Abstract

No abstract

The effect of cashless policy on deposit money banks is expected to increase the profitability of banks; it lowers the operational costs and curbs corruption. As such this study tends to ascertain the effect of cashless policy on deposit money banks profitability in Nigeria from 2009 to 2019. Secondary data from the Statistical bulletin of Central Bank of Nigeria was used in the study and the ARDL Auto-regressive Distributed lag model was used as a method of data analysis. The explanatory variables are Point of Sale (POS) Terminal, Automated Teller Machine, Mobile Banking, and Web Payment while the dependent variable is Profit before Tax. The result from the research indicates that cashless policy has a negative and insignificant effect on profit before tax of deposit money banks in Nigeria within the study period. The study, therefore, makes the following recommendations; banks should educate their customers more on the importance of cashless policy and some of the innovative products they are bringing in the market. They should also improve their financial infrastructure. Power generation and distribution should be improved upon as no electronic banking can take place without adequate power supply. Banks should set up appropriate security processes and use up to date programs to limit the effects of fraud on their products.

The ultimate goal of the study was to determine the asymmetric and dynamic effects of public debt on private investment in Nigeria from 1990 to 2019. Because of the nature of data stationarity, the study then adopted the Nonlinear Autoregressive Distributed Lag (NARDL) modelling technique, which can produce both long-run and short-run parameter estimates of negative and positive decomposed values of domestic and foreign investment. The study used the Augmented Dickey-Fuller (ADF) test to ascertain the true order of integration for the study variables. The findings for the NARDL model showed a stable long-run cointegration among private investment, domestic debt, foreign debt, economic growth, inflation and real exchange rate for the study period. The results show an asymmetric relationship between domestic and foreign debts and private investments in the long run. The estimated results further show that private investment is a significant positive function of positive and negative changes in foreign debt, and a significant negative function of positive and negative changes in domestic debt in the long run, while there were significant instant positive s on impacts on domestic and foreign debt shocks in the short-run.

One of the greatest challenges of the Sub-Saharan African economies today is how to develop the appropriate model that will propel development in the continent. The manufacturing sector instances in China, Malaysia, Taiwan, Korea and Japan are clear models to adopt for Nigeria. The question now is, what has Nigeria been doing to develop the manufacturing sector? To this end, this study set out to examine the effect of fiscal policy and private investment on the performance of the manufacturing sector in Nigeria from 1981 to 2021. The study is time series in nature and made use of the autoregressive distributed lag (ARDL) modelling technique. It was found that domestic private investment and aggregate government spending exert a significant positive influence on the manufacturing sector performance in the long run, while the influence from tax and government revenue was significantly negative. It was then recommended that government should improve on the factors that attract more FDI inflows into the country; boosts requisite educational training skills and financial market depth to drive the influence of domestic private investment on the manufacturing sector; increase government spending on the manufacturing sector development; and that tax revenues be judiciously utilized in the long-run so that they can positively impact the manufacturing sector.