Consequences of the Treasury Single Account Policy on the Wealth of Nigerian Commercial Banks’ Shareholders

Moses, Olayinka; Ehalaiye, Dimu; Maimako, Sebastian Seddi; Fasua, Kayode

doi:10.1080/1540496x.2017.1356715

Cited by 6 publications

(6 citation statements)

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“…Quite a number of studies such as Tamoi et al (2013), Urama et al (2014), Adeyemi and Ayanlola (2015), Erin et al (2016), Li and Mckernan (2016), Moses et al (2018) have shown that the conventional corporate report is insufficient to capture stakeholders' needs. In recent times, advocates from various interest groups such as civil societies, regulators, international organization, non-governmental organization (NGO) and environmentalists have demanded more extensive reporting from corporate organizations.…”

Section: Examination Of Sdg Reporting 761mentioning

confidence: 99%

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Sustainable development goals (SDG) reporting: an analysis of disclosure

Erin¹,

Bamigboye

Oyewo

2022

JAEE

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PurposeThe global agenda of sustainable development goals (SDGs) has posed a major challenge to corporate organizations by addressing sustainability issues within their business model and strategy. Based on this premise, this study provides empirical examination of SDG reporting of the top fifty (50) listed companies in Nigeria for the period of 2016–2018.Design/methodology/approachThe study adopts survey method and content analysis technique to analyze corporate SDG reporting of the selected firms. The study examines the top-50 listed firms in Nigeria based on their market capitalization. Questionnaires were distributed to financial managers of the top-50 listed firms and staffs of the big four audit firms from the governance and sustainability department. The fifty (50) firms selected are as follows: 17 firms from the financial sector, 13 firms from the consumer goods sector, 5 firms from the healthcare sector, 6 firms from the oil and gas sector, 5 firms from the industrial goods sector and 4 firms from the information technology sector. The content analysis was utilized through the PwC framework, Global Reporting Initiative (GRI) framework and International Integrated Reporting Council (IIRC) framework to gage the extent of firms' compliance regarding corporate SDG reporting. Also, the business reporting indicators for each SDG developed by GRI was employed to determine the compliance level of the selected firms with respect to corporate SDG reporting.FindingsThe empirical evidence shows that corporate organizations in Nigeria have performed poorly in corporate SDG reporting. The result of the survey reveals that lack of regulatory framework and voluntary disclosure are the major factors that contributes to low level of SDG reporting by Nigerian firms. Also, the result of the content analysis shows poor reporting on SDG activities. The result of the research survey indicates that voluntary disclosure, lack of management commitment and lack of regulatory enforcement accounts for low SDG disclosure by the selected Nigerian firms.Practical implicationsThis study's findings call for clear responsibility and a strong drive for SDG performance from corporate institutions in Nigeria. Whilst the overall responsibility rests on the government, the actualization of SDG cannot be achieved without support from corporate organizations. The empirical approach used in this study emphasizes the need for corporate organizations to embrace sustainable practices and to integrate SDG information into their reporting cycle.Originality/valueThis study contributes to growing literature in the area of corporate reporting and SDG research in Nigeria and other emerging economies.

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Section: Examination Of Sdg Reporting 761mentioning

confidence: 99%

“…(2014), Adeyemi and Ayanlola (2015), Erin et al . (2016), Li and Mckernan (2016), Moses et al . (2018) have shown that the conventional corporate report is insufficient to capture stakeholders' needs.…”

Section: Introductionmentioning

confidence: 99%

Sustainable development goals (SDG) reporting: an analysis of disclosure

Erin¹,

Bamigboye

Oyewo

2022

JAEE

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“…Similarly, a descriptive and paired sample t-test of the TSA and liquidity of 15 listed banks in Nigeria revealed that TSA hurt the liquidity base of banks in Nigeria and a considerable impact on their profit after tax (Ajetunmobi, Adesina, Faboyede, & Adejana, 2017). A similar study also argued that the announcement and subsequent implementation of TSA negatively impacted shareholders "wealth in commercial banks in Nigeria (Moses, Ehalaiye, Maimako, & Fasua, 2018). However, for financial institutions that sincerely seek financial gain, it has been argued that TSA has opened windows of opportunity for unexplored and uncontested huge goldmine which offers an inexpensive and steady source of funds for lucrative growth (Ikya, 2019) Correlation analysis of data collected from 100 M.sc class of Business Education, River State University, Nigeria, on business environment characteristics and new venture creation revealed that TSA promotes trust and strengthens business practices and transparency (Ikpesu, 2018).…”

Section: Introductionmentioning

confidence: 79%

Treasury Single Account Policy and Revenue Generation Among Federal Parastatals in Ekiti-State, Nigeria

Ogungbade

Oshatimi

Kolawole

2021

IJFR

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Treasury Single Account (TSA) is a new government policy to fight corruption in the Nigerian public sector. The policy has received a lot of compliments from many Nigerians; however, empirical studies have produced mixed results. The study examined the effects of Treasury Single Accounts (TSA) on the revenue generation of federal government parastatals in Ekiti state. The study specifically examined the effect of TSA on revenue generation of Federal University Oye-Ekiti, Federal Teaching Hospital Ido, Federal Road Safety Commission Ado-Ekiti and Federal Polytechnics Ado-Ekiti. Both Descriptive and inferential statistics were used. The descriptive statistics include mean, standard deviation, minimum and maximum while the study employed paired sample t-test for inferential analysis. The study reveals that TSA has not enhanced the revenue generation among federal government parastatals in Ekiti state. The research further shows that TSA is counterproductive since average revenue generated after the implementation of TSA is lower than the average revenue that the parastatals generated before the implementation of TSA. The study recommends that the federal government of Nigeria should investigate the reasons why the TSA is counterproductive in Ekiti state and adequately monitor its implementation.

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“…Such reforms have led to mergers, acquisitions and liquidation of many banks (Soyemi et al, 2014). Banks that have survived the various reforms continue to rejig their competitive strategies and revise their operating models to align with the present-day realities (Moses et al, 2018). At the core of the reforms and regulatory intervention is ERM as a corporate governance issue.…”

Section: Context and Motivationmentioning

confidence: 99%

Enterprise risk management and sustainability of banks performance

Oyewo

2021

JAEE

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PurposeThis study investigates firm attributes (namely level of capitalisation, scope of operation, organisational structure, organisational lifecycle, systemic importance and size) affecting the robustness of enterprise risk management (ERM) practice, the extent to which ERM affects the performance of banks and the impact of ERM on the long-term sustainability of banks in Nigeria. This was against the backdrop that the 2012 banking reform was a major regulatory intervention that mainstreamed ERM in the Nigerian banking sector.Design/methodology/approachThe study employed a mixed methodology of content, trend and quantitative analyses. Ex post facto research design was deployed to analyse performance differential of banks, with respect to the implementation of ERM, over a 10-year period (2008–2017). A disclosure checklist developed from the COSO ERM integrated framework was used to assess the robustness of ERM by content-analysing divulgence on risk management in published annual reports. The banking reform periods were dichotomised into pre- (2008–2012) and post- (2013–2017) reform periods. Jonckheere–Terpstra test, independent sample t-test and Mann–Whitney test were applied to analyse a total of 1,036 firm-year observations over the period 2008–2017.FindingsResult shows that bank attributes significantly affecting the robustness of risk management practice are level of capitalisation, scope of operation, systemic importance and size. Performance of banks improved slightly during the post-2012 banking reform period. This suggests that as banks consolidate on the gains of ERM, benefits of the regulatory policy on risk management may be realised in the long run. Result also shows that ERM enhances long-term performance, connoting that effective risk management could serve as a competitive strategy for surviving turbulence that typically characterises the banking sector.Practical implicationsThe emergence of level of capitalisation, scope of operation, systemic importance and size as determinants of ERM provides empirical evidence to support the practice of reviewing the capital requirements for banking business from time to time by regulatory authorities (i.e. recapitalisation policy) as a strategy for managing systemic risk. Top management of banks may consider instituting mechanisms that will ensure risk management is given prominence. A proactive approach must be taken to convert risks to opportunities by banks and other financial institutions, going forward, to cope with the vicissitudes of financial intermediation.Originality/valueThe originality of the study stems from the consideration that it provides some new insights into the impact of ERM on banks long-term sustainability in a developing country. The study also contributes to knowledge by exposing the factors determining the robustness of risk management practice. The study developed a checklist for assessing ERM practice from annual reports and other risk management disclosure documents. The paper also adds to the scarce literature on risk governance and risk management.

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Consequences of the Treasury Single Account Policy on the Wealth of Nigerian Commercial Banks’ Shareholders

Cited by 6 publications

References 37 publications

Sustainable development goals (SDG) reporting: an analysis of disclosure

Sustainable development goals (SDG) reporting: an analysis of disclosure

Treasury Single Account Policy and Revenue Generation Among Federal Parastatals in Ekiti-State, Nigeria

Enterprise risk management and sustainability of banks performance

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