EFFECT OF CAPITAL FLIGHT IN THE NIGERIAN ECONOMIC SECTOR (1981-2015)

¹Tony IkechukwuNwanji, ²Wilson Ozuem³Kerry E. Howell, ⁴Sainey Faye, ⁵Adegbola OlubukolaOtekunrin, &⁶Damilola Felix Eluyela

^1,3,5,6Department of Accounting and Finance, Landmark University, Nigeria

²University of Cumbria and University of Warwick UK

³School of Business, Teesside University, UK.

⁴Department of Accounting and Finance, New University, Buckingham, UK

Email:¹nwanji.tony@lmu.edu.ng; ²wilson.ozuem@cumbria.ac.uk

³kerry.howell@northumbria.ac.uk;⁴sainey, faye@bucks.ac.uk,

⁵otekunrin.adegbola@lmu.edu.ng, ⁶eluyela.damilola@lmu.edu.ng

ABSTRACT

This research paper deal with the effect of capital flight(here after referred as KF) in the Nigerian economic sector covering 35 years (1981-2015).The studyrecognized the extent to which KF affects growth in the economic sector of Nigeria. The study identifies the problems Nigeria as a country face as a result of KF and proffers feasible solution which could be adopted by policymakers in Nigeria. We used secondary data from the Central Bank of Nigeria statistical bulletin. Thestatistical bulletin covers the economic indicators including Gross Domestic Product (GDP), External Debt, Foreign Direct Investment (FDI,)KF,Current Account Balance (CAB) and Exchange Rates (EXCHRATE) which are thevariablesfor the study. We also used data from the Annual Abstract of Statistic of the National Bureau of Statistics (here after referred as NBS). We employeda Time Series Quantitative methodfor the analysis. The study found that the number of financial resources transferred out of Nigeria as the KF is significant. Therefore, the government would try as much as possible to curb KF to enable the development of the Nigerian economy. The study adds to the existing literature and empirical knowledge of the impact of KF on the Nigerian economic sector. This study shed light on the current account balance of Nigeria. This study alsofound thatNigerian import outweighs export even with the government agricultural policy. This study identified the KFas one of the significant reasons, or over-import and under-export in Nigeria.

Keywords: Capital Flight, Foreign Direct Investment, Economic Sector, Economic Growth, Financial Resources Nigerian Economic and QuantitativeMethod.

MICROFINANCING AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES

Adesola OluremiBabalola-Emmanuel

Department of Business Administration and Management

Federal Polytechnic, Bida, Nigeria

E-mail: dessybjay@yahoo.com

ABSTRACT

The importance of small and medium enterprises (SMEs) cannot be over-emphasized. Hence, scholars agreed that SMEs are the largest employers of labour in countries around the globe but SMEs are not immune against challenges.  For instance, the conventional financial institutions have not been able to provide the much-needed financial supports to SMEs due to some constraints on the part of SMEs owners. Hence, the federal government is making efforts to support SMEs through microfinance banks. Therefore, the main objective of this study is to examine the impact of microfinancing on the performance of small and medium enterprises. The participants were drawn from some selected small and medium enterprises operating in Abuja metropolis, with a total population of 150 SMEs owner/managers. Simple random probability sampling technique was adopted. The participants returned 130 questionnaires but 110 questionnaires were valid and used for analysis. The researcher employed the statistical package for social sciences (SPSS) for data analysis. Results show a positive relationship between the activities of microfinance banks and SMEs performance in Nigeria. Similarly, result indicates that small and medium scale enterprises improve the economic development of Nigeria. Therefore, supporting agencies are advised to implement programmes that will boost the operations of small and medium enterprises (SMEs) in Abuja and other parts of Nigeria by involving microfinance banks in the promotion of small and medium enterprises. In conclusion, the more support is available to SMEs, the better the performance of SMEs would become.

Keywords: financial services, finance, entrepreneurship, microfinance, small and medium businesses

EFFECT OF HUMAN RESOURCE MANAGEMENT PRACTICES ON TURNOVER INTENTIONS AMONG MEDICAL PRACTITIONERS

Odebiyi Itunu Iyabo

Department of Business Administration and Management

Federal Polytechnic, Bida, Nigeria

E-mail: itunuodebiyi@gmail.com

ABSTRACT

This study aims to examine the effect of human resource management practices on employee turnover intentions among medical practitioners in Nigerian public hospitals. The population of the present study consisted of 1,570 medical practitioners who work in Nigerian public health facilities in Abuja, Niger, and Nasarawa states. Also, simple random probability sampling technique was adopted. The participants returned almost all the distributed questionnaires but 310 questionnaires were valid and used for analysis with statistical package for social sciences (SPSS) used for data analysis. Results demonstrate that employee training is negatively related to turnover intentions. This suggests that a well-trained employee may wish not to leave the hospital. Also, results indicate that a fair and competitive compensation practice may discourage medical practitioners from quitting their employment. This suggests that a well-paid medical practitioner may stay longer than those who are not satisfied with their level of pay. Based on the findings of this study, it is recommended that both federal and state ministries of health need to appraise the HR policies being implemented in various government hospitals to avoid cases of brain-drain. More so, lingering issues bothering on allowances and unpaid salaries in some government-owned hospitals must be attended to. Hence, the researcher concludes that HR policies on employee training and compensation practice are relevant in mitigating turnover intentions among medical practitioners in government hospitals.

Keywords: employee turnover intentions, employee training, compensation practice, and performance appraisal.