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The expansion of a nation’s national economy is significantly influenced by pension businesses. This study looked at the impact of pension fund administrators’ (PFAs’) financial performance on Nigeria’s economic growth from 2009 to 2021. Return on assets (ROA) and return on equity (ROE) serve as the independent variables. Capital sufficiency and company size served as the control variables, and GDP was used as a stand-in for economic growth as the dependent variable. To ascertain the impact of the financial performance of pension fund administrators (PFAs) on economic development in Nigeria, the study used a correlational research approach. When analysing the panel data, the multiple regression technique—more specifically, robust regression (VCE)—was used. As a result, it was discovered that ROA and GDP are positively correlated; however, ROE and economic growth in Nigeria are negatively correlated and statistically significant. The report recommended that PenCom step up efforts to sign up more workers in the formal and informal sectors so that there would be more pension funds (assets) available for PFAs to manage and invest for better financial performance and, as a result, greater economic growth in Nigeria.

Keywords: PenCom, Random Effect, Fixed Effect, Economic Growth, Pension Fund Administrators

This study examines the impact of dividend policy on the market capitalization of consumer goods companies in Nigeria. The design that was employed in this study is an ex-post facto design. The population of the study comprised twenty-one (21) listed consumer goods companies in Nigeria. Indeed, a secondary source of data was used for this study, which consists of annual reports and accounts of the sampled companies that were obtained for the analysis to assess the impact of dividend policy on the market capitalization of listed consumer goods companies. The secondary data came from the company’s ten (10) years of annual financial reports and accounts, from 2012 to 2021. The study’s methods for data analysis included the Ordinary Least Squares (OLS) regression model. According to statistics, the market capitalization of listed consumer goods businesses in Nigeria is favorably but not substantially correlated with the dividend payout ratio. The empirical finding further demonstrates that, at a 1% level of significance, dividend per share is statistically, positively, and substantially correlated with the market capitalization of Nigerian consumer goods companies that are publicly traded. It reveals that dividend yield is statistically negative but significantly associated with the market capitalization of listed consumer goods enterprises in Nigeria at a 5% level of significance. Consumer products businesses’ boards of directors are urged to reassess their dividend policy in a way that would be advantageous to all parties involved, especially the capital suppliers (shareholders).

Keywords: Dividend Per Share, Dividend Policy, Dividend Yield, Market Capitalization, Manufacturing Firm

The declining performance of the Nigerian capital market has increased the demand for research into the capital asset pricing model. Portfolios are typically used to evaluate the capital asset price model. Similar to this, a size premium variant of the concept is predicated on the idea that smaller-sized businesses are intrinsically riskier than larger-sized businesses. However, this study used the individual stock returns of listed companies in the Nigerian capital market to empirically assess the capital asset pricing model. The size assumption made by Frank and Goyal, according to which larger enterprises are riskier than smaller ones, was also used to modify the model. 177 companies that are listed on the Nigerian stock exchange market make up the study’s population. The sample included 106 publicly traded enterprises. The study was conducted between December 2011 and January 2018. The study employed multiple regression, cross-sectional regression, and time series regression. According to the report, market risk premiums significantly affect how much share prices fluctuate in the Nigerian capital market. Additionally, it was discovered that firm-specific variables affect how share values fluctuate on the capital market. The study also discovered that size premiums affect how share prices fluctuate on the stock market. The study’s advice to market participants is to acknowledge the impact of market risk premiums on traded assets and encourage investors to place more money into risky assets and less into safe ones in order to improve the performance of the Nigerian capital market. The report also advised investors to take non-systematic risks, including firm size, into account when making decisions about trading assets on the Nigerian capital market.

Keywords: CAPM, Market Risk Premium, Size Premium.

This study looks into how the NDIC’s forensic investigation safeguarding and securing depositors’ funds is related to dishonest accounting practices in Nigerian banks and other deposit-taking financial entities. Established with the fiduciary responsibility of monitoring and supervisory powers over insured institutions, the Nigerian Deposit Insurance Corporation (NDIC) aims to protect depositor funds from miscreants, fraudsters, and criminals operating in different sectors of the Nigerian banking sector, complementing the CBN’s supervision efforts. The study’s data was taken from the NDIC’s annual reports and accounts from 1991 to 2021 in order to identify the numerous fraudulent accounting practices that took place in Nigerian banks and other deposittaking financial organizations during that time. To examine the relationships between and among the variables, the study used a correlational research design. Using STATA version 14, Cochrane-Orcutt AR ordinary least squares (OLS) regression and the Portmanteau (unit root) test for white noise were used to examine the data. According to the study, there is a positive and significant association between ATM fraud, fraudulent depositor fund transfers and withdrawals, and cheque fraud and NDIC forensic investigations. The suppression of customer deposits has a negative, insignificant relationship with NDIC forensic investigation, whereas the theft of bank cheques has a positive, insignificant relationship. Fraudulent conversion of cheques, cash defalcation, and diverted bank checks all have negative and significant associations with NDIC forensic investigations. Thus, the study draws the conclusion that the NDIC forensic investigation may have an impact on dishonest accounting practices that are carried out in Nigerian banks and other deposit-taking financial organizations. In order to sanitize and stabilize the insured financial institutions in Nigeria, the study suggests that the NDIC forensic
investigation teams be encouraged to devise strategies for containing the threat, particularly cases of fraudulent cheques conversion, cash defalcation, diversion of bank cheques, theft of cheques, and suppression of customer deposits.

Keyword: NDIC Forensic Investigation, Fraudulent Accounting Practice, Insured Financial Institutions.