Strengthening Financial System Regulation: The Nigerian Case

Uddin, Godwin; Monehin, Anthony O.; Osuji, Emeka

doi:10.32327/ijmess/9.4.2020.15

Cited by 5 publications

(5 citation statements)

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“…In addition, FGN in July 2020 announced a post-COVID-19 economic stimulus package to support and relieve private businesses that had been adversely affected by the pandemic. In its Monetary Policy, the Central Bank of Nigeria (CBN) made use of a measure called credit relief to alleviate the severe impacts of the pandemic, ensure the stability of the financial sector and reduce its lending rate during this period [59][60][61].…”

Section: Share In Total Expenditure (%)mentioning

confidence: 99%

Rising Food Prices and Farming Households Food Insecurity during the COVID-19 Pandemic: Policy Implications from SouthWest Nigeria

et al. 2022

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The government’s lockdown and restriction measures on the COVID-19 pandemic adversely altered livelihoods, commodity/food prices as well as food security status in Nigeria, especially for rural farming households. A multistage sampling technique was used to collect data from 480 rural farming households across three selected states of the SouthWest geopolitical zone of Nigeria. This research entailed rapid evaluation of the determining factors of rising food expenditure, implications for food security as well as households’ coping strategies during the COVID-19 pandemic. A structured questionnaire was used to obtain data that were analyzed using the following descriptive and inferential statistics: double-logarithmic analysis, Foster–Greer–Thorbecke (FGT) and probit regression analysis. The results showed that 60% of respondents were married, mean years spent in school was 17, mean age was 49 years, household size was 7 people and monthly income less than $200. The FGT model results for head count ratio showed that 78% of households were food insecure. The depth of food insecurity and severity before COVID-19 were 18.4% and 9.9% respectively, and 27.1% and 13.0% during the pandemic. The double-logarithmic regression revealed that household income, size, age and occupation significantly influenced the household’s food expenditure. Probit regression showed that households’ income, size, amount spent on food, and the household’s head, gender and educational level influenced its food security status. The research concluded that food security was indeed influenced by the COVID-19 pandemic among rural farming households in Nigeria. Intervention policies are needed to promote and enable sustainable livelihoods to eradicate hunger and food insecurity due to high food prices and high household sizes in relation to their low average income to enable rural farming households to economically recover and have the capacity to sustain themselves against future shocks.

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Section: Share In Total Expenditure (%)mentioning

confidence: 99%

Rising Food Prices and Farming Households Food Insecurity during the COVID-19 Pandemic: Policy Implications from SouthWest Nigeria

et al. 2022

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“…However, in Nigeria and in the same aforementioned study 32 , we attest that to recoup these extended facilities to businesses by DMBs on behalf of the CBN (and or in line with the CBN's monetary policy responses), in these times of the COVID-19 pandemic and post COVID-19, entertains the services of AMCON in their follow-up correspondence with DMBs due to the need to ensure repayment of the extended loan facilities by businesses assisted, to ensure the continued profitability of these DMBs, to avoid a repeat of similar findings of the 2009 financial sector-wide DMBs' stress test in Nigeria, and evade a systemic panic/bank runs (Figure 1). Likewise, such concern as of the function of AMCON here raised will also aid the country's DMBs in their recoup of already extended loan facilities pre-COVID-19 (i.e., recovery of overdue loan obligations from defaulting borrowers), following a fruitful implementation of the recently released Global Standing Instruction (GSI) by the CBN (Figure 1).…”

Section: Current Perspectivementioning

confidence: 77%

“…From a previous study, 32 we assert of the Central Bank of Nigeria (CBN)'s responses in the form of varied (economic) stimulus packages to help (or aid) the ailing domestic economy grow, to encourage business re-openings (despite the periodic closure in compliance to state lockdown(s), and risk of non-survival/non-continuity/non-profitability in the interim), to enable economy-wide recovery from the 'pangs' of the COVID-19 pandemic. Although before the COVID-19 pandemic i.e., since mid-2019, the CBN had remarkably maintained a pronounced stance for continued real sector support in the country with accommodative policy decisions 33,34,35,36,37,38 .…”

Section: Current Perspectivementioning

confidence: 99%

Financial System Regulation in a Pandemic: Evidence from Nigeria

Uddin¹

2021

Academia Letters

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Financial system soundness in world economies remains germane, but in the same vein, the COVID-19 outbreak had made governments scampering for any and every solution as experience has shown the need to incentivize businesses to enable economy-wide recovery. In this perspective, consideration of the Nigerian case is made, to re-echo possible collaboration by the Central Bank of Nigeria (CBN) and an operationally-associated agency -the Asset Management Corporation of Nigeria (AMCON). This viewpoint shows the role that AMCON could play to recoup extended facilities, in view to ensure financial system soundness, amidst others. Thus, efforts to leverage on this collaboration could aid going forward a fruitful operational effectiveness of so established policy responses.

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“…Literature that were not already published or not in the process of publication were deliberately excluded from selection to enhance the authenticity of the discussion in this study. For ethical reasons, all cited materials were duly referenced (Uddin et al, 2020;Ufua et al, 2021aUfua et al, , 2021b. The summary of the key criteria for the selection and exclusion of the extant literature is presented in Table 1.…”

Section: Methodsmentioning

confidence: 99%

Section: Methodsmentioning

confidence: 99%

Whistleblowing and interpretation, addressing organizational challenges: a conceptual reflection from Nigeria

Ufua,

Butt,

Al-Faryan

2024

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Purpose This study aims to explore the effect of whistleblowing and interpretation among practitioners in the Nigerian economy. The research puts a premium on understanding the relevance and critical issues in its practices and developing an improved model for the effective practice of whistleblowing and interpretation in Nigeria. Design/methodology/approach This study adopted a conceptual approach, relying on extant literature to understand the management of whistleblowing incidents and identify the managers’ and other stakeholders’ responsibility in the whistleblowing process. It applied systems dynamics conceptual modelling and presented an improvement approach to addressing the complexities associated with whistleblowing and interpretation among Nigerian organizations. Findings This study contributed to the extant literature by developing a model for proper management of whistleblowing in the Nigerian context and enhancing the robust practice of whistleblowing and interpretation in Nigeria. The findings highlighted critical factors such as managers’ skills development, legal system support, institutional stakeholders’ function and ethical balance as key factors to effective whistleblowing management and interpretation. This implies that the act of identifying and developing responses to an emerging case of whistleblowing requires a process of developing underpinning assumptions, engagement and consideration of stakeholders’ interests while driving the sustenance of organizational focus. Originality/value This study emphasized the departure from absolute best practice to developing idea approaches that reflect stakeholders’ interests and the context of whistleblowing and interpretation. While the study acknowledges limitations in the sole focus on the Nigerian private sector and the Nigerian economic background, it recommends further exploration of whistleblowing and its interpretation on a comparative approach, to improving the current understanding of the topic.

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Strengthening Financial System Regulation: The Nigerian Case

Cited by 5 publications

References 0 publications

Rising Food Prices and Farming Households Food Insecurity during the COVID-19 Pandemic: Policy Implications from SouthWest Nigeria

Rising Food Prices and Farming Households Food Insecurity during the COVID-19 Pandemic: Policy Implications from SouthWest Nigeria

Financial System Regulation in a Pandemic: Evidence from Nigeria

Whistleblowing and interpretation, addressing organizational challenges: a conceptual reflection from Nigeria

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