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This study investigated the effect of financial literacy on the improvement of financial inclusion in Nigeria (study of selected small and medium enterprises in Abakaliki metropolis. The specific objectives were: examine the effect of financial knowledge on financial inclusion in small and medium enterprises in Abakaliki metropolis; to investigate the effect of financial experience on financial inclusion in small and medium enterprises in Abakaliki metropolis; and to find out the effect of financial skill on financial inclusion in small and medium enterprises in Abakaliki metropolis. The ordinary least squares (OLS) technique was employed to estimate the parameters. The findings indicate that Southeast Nigeria: there is significant effect of financial knowledge on the improvement of financial inclusion in Small and medium enterprises in Southeast Nigeria; financial experience has significant positive effect on the improvement of financial inclusion in Small and medium enterprises in Abakaliki metropoli; and financial skills have significant positive effect on the improvement of financial inclusion in Small and medium enterprises in. Based on the outcome of the various tests carried out and the hypothesis evaluated, the study makes the following recommendations: Banks should develop a mechanism (expansion of financial education facilities) to educate to expand the financial knowledge of their SME customers; Banks in Southeast should conduct account opening programme specifically for small and medium holder business to expand their experience of financial products and improve their financial inclusion; and there is need for banks to develop synergy that will produce in-bank or in-business skill training for small holder businesses on financial account reporting and budgeting.

Keywords: Financial Inclusion, Financial Skill, Financial Knowledge, Financial Experience

The development growth in the Nigerian insurance industry as a financial safety-net within the last few decades brought about included debates among scholars on various aspect of its development which has contributed to economic growth. This study examined the interrelationship effect of financial institution on economic growth in Nigeria: Insurance industry perspective from 1986 to 2020. The study proposed that the insurance investment income and insurance penetration rate have no significant relationship with the economic growth of Nigeria. Ex-post facto research design was used and Data were sourced from the Central Bank of Nigeria statistical bulletin and Nigeria Insurers Digest. Using Ordinary Least Square (OLS) regression techniques, the work established that there exists a statistically significant relationship between insurance investment income and economic growth in Nigeria but no statistical significant relationship between insurance penetration rate and economic growth of Nigeria. It was recommended that the Nigerian insurance industry key players should intensify insurance awareness by promoting group insurance schemes through product development innovation strategies especially among the rural populace and market associations such as Microinsurance, Takarful insurance and strict implementation of compulsory insurances, among others with direct impact on economic growth through increase in insurance investment income and penetration.

Keywords: Investment income, Insurance premium income, Insurance penetration rate, Economic growth, financial institution,

This study examined the relationship between macroeconomic factors and financing decision of industrial goods manufacturing firms in Nigeria. The study modelled debt to equity ratio as the function of inflation rate, nominal interest rate and real interest rate. Panel data were sourced from central bank of Nigeria statistical bulletin and financial statement and annual reports of the industrial goods firms from 2012-2021. Panel regression models were formulated to analyze the relationship between inflation and capital structure. The study found from the fixed effect model that 45 percent variation on debt equity ratio of Nigeria quoted industrial goods manufacturing firms can be explain by variation on macroeconomic factor. The regression coefficient indicated that there is no statistically significant relationship between inflation rates and debt equity ratios of the listed companies in Nigeria; there is no statistical evidence that there is an effect of the consumer price index on the debt equity ratio, and also no statistical evidence that there is a significant effect on the debt equity ratio from the nominal interest rate. However, the debt equity ratio increases with the changes in the nominal interest rate when the industry performance improves. The study concludes that it is advantageous for a company to reduce its debt portfolio and increase its equity holdings to improve its financial condition and its long-term growth when the economy is doing well. For this to happen, however, the company’s management must recognize that there are risks when it decides to go the equity route, and therefore it requires them to take a disciplined approach to managing its balance sheet. We recommend that company with high debt levels should consider reducing its debt in order to reduce its borrowing costs and improve its financial strength and it is in the best interest of a company to increase its level of equity financing in order to take advantage of the higher returns that an adequately funded balance sheet can offer.

Keywords: Inflation, Fisher effect, Capital structure, Debt equity ratio, Nominal interest rate and Real interest rate