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We analyse the optimal regulation of a Microfinance Institution (MFI) that has private information on the intrinsic quality of its loan portfolio (adverse selection) and where the MFI’s choice of effort to improve this quality cannot be observed by the regulator (moral hazard). In designing optimal contracts, the regulator faces a trade-off between inducing proper incentives for efficient MFI and costs of regulation in terms of leaving an informational rent for a high-quality MFI. We identify conditions for the optimal incentive contract and show that, not surprisingly, these contracts depend on the accuracy of the supervisor’s signal, the likelihood of facing a high-quality MFI, and the cost of supervision. However, since improving the accuracy of supervision is costly, even in the optimal monitoring scheme, a positive probability of MFI failure generally exists. The optimal monitoring scheme characterizes the content of information disclosure.

Keywords : Microfinance institution, adverse selection, moral hazard, regulation, supervision, optimal incentive contracts, developing countries.

This study’s main goal is to determine the effect that specific macroeconomic factors have on the amount of foreign direct investment (FDI) flowing into Nigeria. This study adopted the ex-post facto research design. Exchange rate, inflation rate, monetary policy rate, and gross domestic product growth rate are the macroeconomic variables used in this study. The repressors were these variables. The quantity of inflow between 1986 and 2020 was made up of FDI. The dependent variable chosen was FDI. Because the model variables were integrated in a mixed order of both level and first difference, this study used the Autoregressive Distributed Lag (ARDL) technique. The selected macroeconomic variables and FDI were bound by a long-run connection, according to the results of the ARDL bounds test for cointegration. The calculated short-run coefficients showed that GDP growth rate and monetary policy rate were the primary macroeconomic variables that considerably increased FDI inflow in Nigeria, whereas inflation and exchange rate were the major macroeconomic variables that significantly decreased FDI inflow. Long-term, the GDP growth rate and exchange rate had a beneficial influence on FDI influx whereas the monetary policy rate had a large and negative effect. According to these empirical findings, the researcher advises Nigeria’s monetary authorities to support strong GDP growth, exchange rate stability, and efficient monetary policy rates in order to draw FDI into the country and create efficient foreign exchange policies that will draw in foreign investors.

Keywords: FDI, macroeconomic variables, economic size, exchange rate, inflation, monetary policy rate

The study examined how liquidity interacts with profitability to influence dividend policy of listed healthcare firms in Nigeria. The researcher adopted ex-post facto research design, taken into consideration the nature of the data for the study which is time series data. All listed companies in the healthcare sector of Nigeria economy as at 31st December 2022 constituted study population. Then, based on data availability, five companies were selected from the study population as sample size. However, the data obtained were analyzed with descriptive statistics, correlation and regression analysis. Results indicate that profitability has a positive and significant influence on dividend policy at 0.1 level of significance. Meanwhile, interaction of liquidity with profitability does not have any significant influence on dividend policy among the studied healthcare firms. Based on the findings of the study, it is concluded that increase in profitability will possibly increase dividend payment substantially among the studied firms. The study also concludes that liquidity can positively influence dividend payment, although the influence is very small and not significant. However, it is concluded that interaction of profitability and liquidity does not have any positive and significant influence on dividend payment among the studied sample. The study recommends that firms in the Nigerian health sector should find a way to cut down their operating costs and improve their marketing strategies in order to increase their profit as most of the studied firms reported losses consecutively during the period of the study.

Keywords: Profitability, Liquidity, Dividend Policy, Nigeria

The study aims at examining the relationship between electronic banking and performance of small and medium scale enterprises in Uyo Local Government Area Akwa Ibom State. The study adopted survey research design. The convenience sampling technique was adopted for the study. Data for this research were obtained from primary and secondary sources. The research instrument used in the collection of data in this study is the questionnaire. The findings of the research revealed that transition to a cashless economy has a perceived impact on the performance of small business operators. However, significant challenges were identified, including the lack of access to electronic payment infrastructure and low levels of awareness and education on the benefits of cashless transactions. Furthermore, government policies and initiatives aimed at promoting a cashless economy have not been fully effective in supporting the growth of small business operators in Uyo
Local Government Area Akwa Ibom State to benefit from the transition to cashless economy, including increased efficiency, cost savings and access to new markets. The study recommended that there is significant need for public education and awareness on the benefits of automated teller machine to enhance the adoption of cashless policy for business purpose in Nigeria. The banks must improve service quality and customer responsiveness in cases of lost or stolen cards, frauds, and other customer complaints in relation to point of sale and performance of Deposit money Banks in Nigeria.

Keywords: Automated Teller Machine, Bank performance, Mobile Banking, Point of Sale, Sustainable Economic Growth.

The study investigated influence of service quality delivery on customer satisfaction among customers of Deposit Money Banks in South-Western Nigeria. The study adopted cross-sectional survey research design and gathered data from one
thousand, five hundred and five (1,505) bank customers in South-Western Nigeria. Both descriptive and inferential statistics were used in analyzing the data. T-test for independent samples was used in testing the influence of perceived service quality delivery on customer satisfaction. It was found that perceived service quality delivery had significant influence on tangible dimension of customer satisfaction [t (1503) = 30.32; P<.01], reliability [t (1503) = 12.90; P<.01], assurance [t (1503) = 2.17; P<.05], empathy [t (1503) = 4.94; P<.01] and customer satisfaction [t (1503) = 18.97; P<.01]. From the findings, it was recommended that bank management should think outside the box to create more services for the customers with cost consideration at a reduced rate to enhance customer expectation and bank performance.

Keywords: Service Quality Delivery, Customer Expectation, Customer Perception, Bank Services, Deposit Money Banks, Bank Management