EFFECT OF EXCHANGE RATE VOLATILITY ON THE PERFORMANCE OF INSURANCE SECTOR IN NIGERIA

Raji, Oladeinde Akeem&Adejuwon, EmmanuelOlatunji

Department of Insurance

Federal Polytechnic Ilaro, Ogun State

Email:akeemraji02@yahoo.com&adejuwonolatunji95@gmail.com

ABSTRACT

This study was undertaken to complement the recent unprecedented global focus on Micro, Small and Medium Enterprises (MSMEs) as key agents of socio-economic development, by examining the impact of the natureand quality of the recordkeeping practices of micro enterprises (MEs) on their performance,via a survey of 127 firms in Jos metropolis. The resulting data, collected through a structured set of questionnaires, were analysed using Pearson Correlation Coefficient and Regression Analysis, with the outcome of a strong relationship between the nature and quality of records kept by this category of firms and their performance in terms of growth in sales, profit and capital. However, subjecting the data to regression analysis shows only quality of record keeping significantly impacting performance, hence the recommendations for improved quality of record-keeping for ease of assessment of their profitability, access to funding and aiding  informed business decision making that will enhance performance.

Keywords: Bookkeeping, Micro enterprises, Performance,Recordkeeping, Small and medium enterprises.

THE IMPACT OF FINANCIAL RECORDKEEPING ON PERFORMANCE OF MICRO ENTERPRISES IN JOS METROPOLIS, NIGERIA

Mbwa Williams Adiak,

Department of Management Studies,

Plateau State University, Bokkos, Nigeria.Email: mwadiak1@gmail.com

ABSTRACT

This study was undertaken to complement the recent unprecedented global focus on Micro, Small and Medium Enterprises (MSMEs) as key agents of socio-economic development, by examining the impact of the natureand quality of the recordkeeping practices of micro enterprises (MEs) on their performance,via a survey of 127 firms in Jos metropolis. The resulting data, collected through a structured set of questionnaires, were analysed using Pearson Correlation Coefficient and Regression Analysis, with the outcome of a strong relationship between the nature and quality of records kept by this category of firms and their performance in terms of growth in sales, profit and capital. However, subjecting the data to regression analysis shows only quality of record keeping significantly impacting performance, hence the recommendations for improved quality of record-keeping for ease of assessment of their profitability, access to funding and aiding  informed business decision making that will enhance performance.

Keywords: Bookkeeping, Micro enterprises, Performance,Recordkeeping, Small and medium enterprises.

EFFECT OF SKILL ACQUISITION PROGRAMMES ON ENTREPRENEURIAL DEVELOPMENT

AdesolaOluremi Babalola-Emmanuel¹&OdebiyiItunu Iyabo²

¹Department of Business Administration and Management,

Federal Polytechnic, Bida, Nigeria

E-mails: dessybjay@yahoo.com&itunuodebiyi@gmail.com

ABSTRACT     

The reason why many technicians earn fat incomes than some university graduates in advanced countries is because the technicians acquired more practical skills than the graduates who acquired theoretical knowledge while in the universities. Skills development is very crucial to Nigeria’s economic growth and development and this necessitated the establishment of the Industrial Training Fund (ITF) to develop positive mind-set among the youths towards self-employment after graduation. To this end, the major objective of this study is to examine the relationship between skill acquisition programmes undertaken by the ITF and entrepreneurial development in Nigeria. The study’s population consisted of 250 trainee entrepreneurs undergoing training at ITF training facility in Abuja. Descriptive design was adopted with administration of questionnaire to beneficiaries of ITF training programmes. Analytical tools include the use of percentages, tabular presentation and chi-square (X²) for hypothesis testing. The findings indicate that some entrepreneurs have acquired technical, marketingand managerial skills, which have impacted on increased entrepreneurship development in Nigeria. Based on the findings, the study recommends that ITF should increase its efforts in promoting entrepreneurship education by offering more skill-oriented training programmes that will benefit Nigerian economic growth and development. In conclusion, the researchers submit that adequate entrepreneurial skills are necessary for effective and efficient running of entrepreneurial business in Nigeria.

Keywords:employment generation, skill acquisition, entrepreneurship development and economic growth.

EVALUATION OF FINANCIAL PERFORMANCE USING ALTMA Z-SCORE INDEX: EVIDENCE FROM SENIOR STAFF MULTIPURPOSE CO-OPERATIVE SOCIETY, FEDERAL POLYTECHNIC, BIDA FROM 2013-2019

Ibrahim AbubakarMikugi&HauwaDaniyan- Bagudu

Department of Business Administration and Management, Federal Polytechnic, Bida,

Department of Banking and Finance, Federal Polytechnic, P.M.B. 55 Bida, Niger State

Email:tatafoundation@hotmail.com&hauwadaniyan77@gmail.com

ABSTRACT

Most investors, stakeholders, customers and financial institutions develop perception about a firm’s financial performance due to the insufficient analysis of the firm in terms of financial performance. Focusing on only one indicators of financial performance and ignoring others may lead information users to wrong financial decisions, whileanalysing financial performance of companies based on only asset criteria size may be misleading. The objective of this paper was to evaluate the financial performance of Senior Staff Multipurpose Society, Federal Polytechnic Bida. The methodology used was through secondary data collection. Through this method the researchers made use of the annual financial statement of Senior Staff Multipurpose Co-operative Society, Federal Polytechnic Bida from 2013-2019.  Analysis was done using Altman Z-Score index which predicts corporate financial performance, bankruptcy and distress. Findings revealed that Senior Staff Multipurpose Co-operative Society financial performance using Z-Score Index stood at 2.37, 2.19, 2.14, 2.36, 2.33, 2.34 and 2.24 for 2013, 2014, 2015, 2016, 2017, 2018 and 2019 respectively. It can be concluded based on the study that Senstaf Co-operative Society financial evaluation result compared to Z-score decision criteria is in grey zone but needs to do more by our evaluation. The Altman index decision criteria is given as Z-Score higher than 2.99 means good performance, Z-Score between 1.89-2.99 as in good condition but needs to do more & Z-Score less than 1.89 as the firm financial performance is poor. We therefore recommended that Senstaf Co-operative Society should put more effort to improve in its Sales to Total Asset Value, this would help drive more investment.

Keyword:Financial Performance, Bankruptcy, Financial Distress Co-operative Society, Altman Z-Score.