College of Management and Social Sciences

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Board Expertise and Sustainability Reporting in Listed Banks in Nigeria
(2019) Umukoro O. E.; Uwuigbe O. R.; Uwuigbe U.; Adegboye Alex; Ajetunmobi O.; Nwaze C.
Despite the growing evidence on the determinants of sustainability reporting, there exist limited and inconclusive studies on the impact of board expertise on sustainability reporting. This study investigates the influence of environmentally sensitive, certified or educated board members on the disclosure of sustainability report. Based on the static panel data regression estimators for 10 Nigerian Deposit Money Banks over the period of 2014- 2016, the study revealed that highly educated directors have an altogether constructive influence on the sustainability report disclosure while controlling for corporate administration and firm-level qualities. In addition, we find that the executive and non-executive directors have low experience in environmental issues resulting in an insignificant effect on the disclosure of sustainability reporting. This paper suggests that firms should allow more directors with environmental background, who have a lower motivation to boost transient returns since they are likely to influence environmental performance
BUSINESS PROCESS REENGINEERING AND SUSTAINABILITY OF OUTSOURCING ORGANISATION IN LAGOS STATE, NIGERIA. A STUDY OF HUGO INC
(Covenant University Ota, 2025-03) OKWARAOGOMA REGAN OGADINMA; Covenant University Dissertation
This research focused on the influence of business process reengineering on outsourcing organization: A study of Hugo Inc. Companies need to survive the test of time in business practices and having operational efficiency, so process reengineering can help them in achieving this. Business process reengineering is typically used to boost business agility, responsiveness, and customer satisfaction with improved goods and services. Sustainability is connected to the ability to run a production process over a period of time. Some of the problems BPR is trying to address are client satisfaction, process implementation, operational and resource management. The purpose of this study is to know how process reengineering can lead to sustainability for outsourcing organization. Organization understands the importance of profit and having customer base, and must understand that it is important to design operation to ensure both factors are not affected. The key variables in the study are value creation, process ownership and customer focus connected to business process reengineering, while economic, environmental and social variables are connected to sustainability, these are explored in relation to each other and their connection to the problem. The theory utilized in the study are the triple bottom line and stakeholders’ theory was used in this study to provide the theoretical foundation to this study. A quantitative survey method was adopted for this study. The population of the study comprised of 850 employees and questionnaires was administered to a sample size of 272 employees using purposive and simple random sampling technique. Results showed there is a positive relationship between process reengineering and sustainability. The study is to push outsourcing organizations to review their system of operation to constantly overcome challenges and be productive in their operation. Therefore, there is need to constantly review, update, recommend and adjust the process of operation.
Chief financial officer roles and enterprise risk management: An empirical based study
(Heliyon, 2019) Ojeka Stephen A.; Adegboye Alex; Adegboye Kofo; Alabi Oluwaseyi; Afolabi Mosinmileoluwa; Iyoha Francis
This study investigates the influence of CFO roles on the implementation of ERM initiatives in a sample of Nigerian financial institutions (between 2013-2017). We develop three distinct factors representing the CFO roles namely CFO power, CFO experience and CFO knowledge using principal component factoring. Like prior work, we measure ERM components simultaneously to capture the extent of sophisticated ERM system. Our findings pose that the CFO involvement in ERM implementation remains minimal while the CRO is solely responsible for ERM implementation, which could undermine cost-benefit effectiveness. Our empirical evidence reports that the sophisticated ERM only promote the market evaluation while the accounting performance is undermined. The result then contravenes the expectation that effective ERM enhances accounting performance by mitigating risk exposure. While the sophisticated ERM is significantly positive with leverage, which reveals that ERM implementation does not necessarily reduce the firm risk. This indicates that the ERM implementation remains ineffective to mitigate risks, where the CFO involvement in the ERM initiative is limited. We then advocate that CFOs should be allowed to contribute strongly on some specific aspects of ERM initiatives namely identification and analysis of key risk indicators, the financial implication of risks and integration of ERM into traditional finance activities.
Chief financial officer roles and enterprise risk management: An empirical based study
(Heliyon, 2019) Ojeka Stephen A.; Adegboye Alex; Adegboye Kofo; Alabi Oluwaseyi; Afolabi Mosinmileoluwa; Iyoha Francis
This study investigates the influence of CFO roles on the implementation of ERM initiatives in a sample of Nigerian financial institutions (between 2013-2017). We develop three distinct factors representing the CFO roles namely CFO power, CFO experience and CFO knowledge using principal component factoring. Like prior work, we measure ERM components simultaneously to capture the extent of sophisticated ERM system. Our findings pose that the CFO involvement in ERM implementation remains minimal while the CRO is solely responsible for ERM implementation, which could undermine cost-benefit effectiveness. Our empirical evidence reports that the sophisticated ERM only promote the market evaluation while the accounting performance is undermined. The result then contravenes the expectation that effective ERM enhances accounting performance by mitigating risk exposure. While the sophisticated ERM is significantly positive with leverage, which reveals that ERM implementation does not necessarily reduce the firm risk. This indicates that the ERM implementation remains ineffective to mitigate risks, where the CFO involvement in the ERM initiative is limited. We then advocate that CFOs should be allowed to contribute strongly on some specific aspects of ERM initiatives namely identification and analysis of key risk indicators, the financial implication of risks and integration of ERM into traditional finance activities.
Corporate governance and sustainability reporting quality: evidence from Nigeria
(2021) Erin Olayinka; Adegboye Alex; Bamigboye Omololu Adex
Purpose This study aims to examine the association between corporate governance and sustainability reporting quality of listed firms in Nigeria. Design/methodology/approach The authors measure corporate governance using board governance variables (board size, board independence, board gender diversity and board expertise) and audit committee attributes (audit committee size, audit expertise and audit meeting). The authors measured sustainability reporting quality using a scoring system, which ranges between 0 and 4. The highest score is achieved when sustainability reporting is independently assured by an audit firm. The lowest score refers to the absence of sustainability reporting. The study emphasizes 120 listed firms on Nigeria Stock Exchange using the ordered logistic regression technique. Findings The results indicate that board governance variables (board size, board gender diversity and board expertise) and audit committee attributes (audit committee size, audit expertise and audit meeting) are significantly associated with sustainability reporting quality. Additional analysis reveals that external assurance contributes to the quality of sustainability reporting through corporate governance characteristics. Research limitations/implications This study is restricted to a single country. Future studies should consider a cross-country study, which may help to establish a comparative analysis. Likewise, the future study could consider other regression techniques using a continuous measurement of the global reporting initiative in measuring sustainability reporting quality. Practical implications This study’s findings have important implications for policymakers and practitioners, especially the corporate executives and top management. Companies are encouraged to restructure their board to enhance better monitoring and support towards better sustainability reporting. Social implications Disclosure on sustainability reporting helps corporate organizations advance the issues of sustainability both nationally and globally. Originality/value This current study adds to accounting literature by examining how corporate governance contributes to sustainability reporting practices within the Nigerian context. Drawing from the result, the study provides strong interconnectivity between the corporate board and audit committee in driving sustainability reporting quality within an organizational context.
Do corporate attributes impact integrated reporting quality? An empirical evidence
(Journal of Financial Reporting and Accounting Vol. 20 No. 3/4, pp. 416-445(Emerald Publishing Limited), 2021-06-10) Erin Olayinka; Adegboye Alex
Purpose This study aims to examine the impact of corporate attributes on integrated reporting quality of top 100 listed firms in South Africa. Design/methodology/approach With a sample of the top 100 listed firms in South Africa, this paper drew insights from the legitimacy and stakeholder theory to examine the impact of corporate attributes on integrated reporting quality. This paper measured integrated reporting quality based on the International Integrated Reporting Council framework of 2013. Corporate attributes were determined taking into consideration three broad perspectives (board committee attributes, firm attributes and audit committee attributes). This paper analyzed the data using content analysis, ordered probit regression and logistic regression method. Findings Results indicate that board committee attributes, firm attributes and audit committee attributes have a positive and significant relationship with integrated reporting quality. Additional analysis reveals that external assurance contributes to the quality of integrated reporting. The findings empirically revealed that most South African firms have intensified efforts toward the quality and full disclosure of integrated reporting framework. Research limitations/implications The study was limited to a sample size of 100 firms, which is country-specific, however, it sets the tone for future empirical research on the subject matter. This study provides an avenue for future research in the area of corporate attributes and integrated reporting quality in other emerging countries, especially other African countries. Practical implications The result of this study provides practical implications in the areas of good corporate governance, corporate reporting and integrated reporting. The empirical approach used in this study emphasizes the need for corporate organizations to introduce integrated reporting practices into their reporting cycle. The finding implies that non-compliance with integrated reporting by corporate organizations may have an adverse effect on corporate growth, corporate sustainability and corporate reputation in the long run. Originality/value The work extends prior research on the subject of integrated reporting in South Africa. Also, this study broadens the application of legitimacy and stakeholder theory in influencing corporate organizations to disclose relevant information that could aids stakeholders’ interest.
DOES CEOs POWER MODERATE THE EFFECT OF AUDIT COMMITTEE OBJECTIVITY ON FINANCIAL REPORTING QUALITY IN THE NIGERIAN BANKING SECTOR?
(Academy of Strategic Management Journal, 2019) Ojeka Stephen A.; Fakile Fakile; Iyoha Francis O.; Adegboye Alex; Olokoyo Felicia
This study empirically examined the impact of audit committee objectivity (contingent on CEO Power) on the quality of financial reporting in the Nigerian Banking Sector. The study adopted a survey research approach and secondary data extracted from financial statement. The OLS and LSDV analysis were used to investigate the impact of Audit Committee objectivity on the quality of financial reporting with or without CEO power and influence. The findings showed, that, while audit committee independence impact positively on the relevance and reliability of financial report, the same cannot be said when there was CEO power. CEO power in the audit committee mitigated the benefits of independence and caused its overall effects on financial reporting quality of no significant in terms of relevance and reliability. The study therefore recommended that having a majority of independent directors would increase the quality of board oversight, lessen the possibility of damaging conflicts of interest and helps to repose inventors’ confidence especially foreign investors that would invariably draft in FDI. This will align boards’ decisions with the interests of shareholders they represent. This will reduce significantly the ability of the CEO overbearing influence on the committee activities in ensuring financial reporting quality.
Driving information communication technology for tax revenue mobilization in Sub-Saharan Africa
(Telecommunications Policy Volume 46, Issue 7, 2022) Adegboye Alex; Uwuigbe U.; Ojeka Stephen A.; Uwuigbe Olubukunola; Dahunsi Olajide; Adegboye Kofo
This study explores whether increasing Information and Technology Communication (ICT) boosts government revenue mobilization for sustainable development in 48 Sub-Saharan African countries from 2004 to 2020. While total tax revenue non-resource as a percentage of GDP and tax revenue as a percentage of GDP are used to proxy for tax revenue mobilization, three ICT measures are used, namely; the telephone penetration rate, the mobile phone penetration rate and internet penetration rate. To perform the analysis, we adopt the Generalized Method of Moments (GMM). The empirical findings are as follows. First, while the calculated net impacts are substantially positive, the corresponding marginal ICT effects utilized for calculating net effects are extremely negative. Second, an extensive study is carried out to determine complementing policy thresholds. These thresholds include: 21.959 (per 100 people) telephone penetration for total income from tax revenue; 16.333 (per 100 people) internet penetration for total income from tax; 21.125 internet penetration (per 100 people) for the income from the tax on non-resource income. This study has policy relevance, and implications as the penetration of the ICT rate can be influenced by policies to mobilize government revenue effectively
Economic Restrictions and Currency Performance: Evidence of African Countries
(Research Square, 2021) Adegboye Alex; Ikpefan Ochei; Ojeka Stephen A.; Adeyanju Ibukunoluwa
This study explores the impact of diverse economic restrictions on currency performance. We assess a panel dataset of 30 African countries for the period 1990–2010. Our empirical evidence is based on the fixed effect regression and the Quantile regression approach. We find that the United States, European Union, economic and intensity sanctions weaken the real exchange rates. However, we establish that the U.N. sanctions are insignificant. As for the policy implication, sanctioned countries should implement a policy that could mitigate the adverse consequences of economic restrictions on currency performance.
Educational quality, social media and public accountability: a global perspective
(2021) Adegboye Alex; Asongu Simplice A.; Tchamyou Vanessa S.; Osinubi Tolulope T.; Adeyanju Ibukunoluwa
This inquiry relates to the empirical linkages between educational quality, Facebook penetration and accountability dynamics. The empirical investigation is based on the Ordinary Least Squares (OLS) technique and Quantile regression for the conditional linkages which articulate low, middle, and high initial levels of public accountability. It explores a cross-section of 168 countries. The main finding is that there is an overwhelming positive connection between Facebook penetration and accountability dynamics. The established positive nexus is apparent in all quantiles of public accountability. In addition, tertiary and secondary school enrollment positively influence public accountability. By utilizing a novel dataset in analyzing the established nexuses, this study adds to the existing literature on social media and governance (i.e., educational quality, Facebook penetration and accountability dynamics). Similarly, the posture addresses contemporary policy concerns regarding a lack of documentation on the impacts of social media.
EFFECT OF TOTAL QUALITY MANAGEMENT ON CUSTOMER SATISFACTION. A STUDY OF COCA-COLA PLC, LAGOS STATE
(Covenant University Ota, 2025-03) BABALOLA OMONIYI SAMUEL; Covenant University Thesis
This study investigates the impact of Total Quality Management (TQM) on customer satisfaction within the Nigerian soft drink production sector, focusing on Coca-Cola Plc in Lagos State. The research assesses how TQM practices influence product quality consistency, customer perceptions of value for money, employee performance, and overall organizational success. Using a descriptive research design, quantitative data were collected through surveys from employees, consumers, suppliers, and distributors. Findings reveal that continuous improvement initiatives significantly enhance product quality and consistency, leading to higher customer satisfaction. TQM practices positively influence pricing strategies and production efficiency, improving customer perceptions of value for money. The study also highlights the critical role of employee training and development in enhancing customer service interactions, correlating with increased satisfaction levels. Additionally, the research underscores the importance of a customer-centric culture and the strategic use of technology and innovation in fostering long-term customer loyalty and organizational success. Despite limitations such as the geographical focus on Lagos State alone and reliance on self-reported data, the study provides robust evidence supporting the effectiveness of TQM in the Nigerian soft drink industry. The research offers actionable recommendations for industry practitioners, including strengthening continuous improvement processes, enhancing employee training, improving customer feedback mechanisms, fostering supplier and distributor collaboration, leveraging technology, and promoting a customer-centric culture. The study concludes that adopting and continuously refining TQM practices can significantly enhance customer satisfaction and provide a competitive advantage in the Nigerian soft drink production sector.
ETHICAL LEADERSHIP AND EMPLOYEES’ ENGAGEMENT IN ADO/ODO OTA LOCAL GOVERNMENT COUNCIL, OGUN STATE, NIGERIA
(Covenant University Ota, 2025-03) DAVID OLUWABIMPE OMOLAYO; Covenant University Dissertation
Ethical leadership is considered one of the critical determinants of Employees’ engagement, especially within the public sector, where the manifestation of unethical practices erodes trust, reduces motivation, and, in essence, undermines the performance of such organisations. This study explored ethical leadership and Employees’ engagement within Ado/Odo Ota Local Government Council, Ogun State, Nigeria, as it relates to impediments to ethical leadership, strategies for strengthening Employees’ engagement, and environmental drivers that influence ethical leadership adoption. Quantitative data from 189 employees were collected through structured questionnaire, while qualitative insights were gathered from seven key informants who were department heads and senior administrators. Quantitative data analysis was done using SPSS 27, and thematic analysis of qualitative data was performed using ATLAS.ti 25. The results indicate that ethical leadership is significantly and positively related to Employees’ engagement, as evidenced by a correlation coefficient of 0.245, p = 0.001. The study considered political interference, resource constraints, and socio-cultural norms as critical impediments to ethical leadership in Nigerian local governance. In addition, this study identified the need for clearly defined ethics policies, ongoing leadership training, incentive structures, and enhanced transparency mechanisms necessary to establish an ethical organisational culture. This study adds much value to the theory by pushing forward the discussion of ethical leadership in public administration and governance. It thus gave empirical evidence that ethical leadership enhances Employees’ engagement by instilling employee trust, accountability, and professionalism. The findings have implications for policymakers and human resource managers in formulating targeted interventions to mitigate leadership challenges and promote a more engaged workforce in local government settings. This study has established ethical leadership as influencing Employees’ engagement in Ado/Odo Ota LGC. However, considering the geographical focus, the study concludes that future research should be expanded to broader contexts to enhance the generalisability of findings and further explore the nuanced relationship between ethical leadership and Employees’ engagement across diverse institutional settings.
Financial Inclusion and Information Communication Technology on Tax Performance in Sub-Saharan Africa
(International Journal of Professional Business Review Vol. 8, Nº. 12, 2023, 2023) Adeyemo Kingsley Aderemi; Adeyanju Ibukunoluwa Temiloluwa; Ekundayo Gbenga; Adegboye Alex; Ali Shahnawaz
Fostering Integrated Governance Quality through Technology Penetration: Thresholds of Democracy in Sub- Saharan Africa
(Africa. J Knowl Econ 15, 9142–9173 (Springer Nature), 2024-02) Ejemeyovwi Jeremiah O.; Adegboye Alex; Umukoro O. E.; Asongu Simplice A.
In the quest for the attainment of democracy with its fully unleased potential, the role of information and communication technology (ICT) is integral within this current knowledge economy disposition. The study explores the effect of mobile technology penetration on governance quality from the unconditional and marginal effects of mobile phones and diverse democracy indicators. The analysis is carried out by applying the instrumental variables (IV) Tobit regression to the data to examine the relationship among the variables of interest with a view to handling possible endogeneity issues in the empirical model. The study finds that weak democracy is detrimental to the effect of mobile phone penetration on integrated governance quality and that the higher the mobile phone penetration, the lower the weak democracy quality in SSA. The study concludes by recommending efforts and policies to be enacted and implemented such as the enhancement of mobile technology for concise quality governance.
Governance Quality and Sustainable Development: Insights from the United Nations Sustainable Development Goals in Africa
(2024) Adebayo Adeyemi; Ackers Barry; Erin Olayinka; Adegboye Alex
We examine the effect of governance quality on sustainable development in Africa. We focus on 48 African countries for the period of 2010 to 2022 using the Generalized Method of Moments framework to analyze the data. We measured sustainable development through three key variables: sustainable economic development, sustainable social development and sustainable environmental development. The findings of this study provides a strong evidence that governance quality plays a critical role in promoting sustainable development. Thus, the empirical evidence in this study largely proves a strong and robust link between the governance quality and sustainable development in Africa.
Liquidity Management on The Performance of Listed Insurance Companies in Nigeria*
(Communications of International Proceedings (IBIMA Publishing), 2022) Oluwatobi Fasheyitan David; Ikpefan Ochei Ailemen; Adegboye Alex
A business's viability and success is largely influenced by its liquidity management style and control. This is because either inadequate or excess liquidity may impair the smooth operation of the business. This apparent problem has sparked considerable interest in issues of the management of liquidity in the context of significant financial outlays. However, diagnosis has been scarce in the insurance industry. Thus, the article's objective is to investigate how liquidity impacts the entire performance that results in financial efficiency. The research is based on a sample of ten insurance companies that were publicly traded on the Nigerian Stock Exchange from 2013 to 2019. Using a random effect panel regression model, this research discovered that liquidity management had a strong negative correlation with financial performance metrics in Nigeria's insurance industry. However, just a single positive coefficient was observed with current ratio affects performance in relation to ROA, while ROE was automatically insignificant when the same variables were used. Additionally, what set this investigation apart was the inclusion of economic factors that had no impact on the research. The study concludes, among other things, that given the volatility or risk level connected with insurance companies' services, it is critical for them to constantly invest in accessible assets regardless of the associated cost of payment or in meeting their commitments.
Promoting female economic inclusion for tax performance in Sub-Saharan Africa
(Economic Analysis and Policy Volume 69 (Published byElsevier), 2020) Asongu A.; Adegboye Alex; Nnanna Joseph
This study explores whether female economic inclusion enhances tax performance in a sample of 48 countries in Sub-Saharan Africa from 2000 to 2018. The study’s empirical evidence is based on the generalized method of moments in order to account for endogeneity concerns. Three tax performance measurements are used, notably, total taxes revenue excluding social contributions, reported tax revenue derived from natural resources sources, and total non-resource tax revenue. Three female inclusion indicators are used, namely, female employment in industry, female labour force participation, and female employment. The following empirical evidences are documented; (i) There is a negative net effect from the enhancement of female employment in the industry on the total tax revenue. (ii) There is a positive net effect of female employment in the industry on the non-resource taxes. An extended threshold analysis is performed to establish the critical masses that could further influence tax performance positively. The following thresholds are established. (i) a minimum of 15.35 “employment in industry, female (% of female employment)” for the total tax revenue and (ii) a maximum of 23.75 “employment in industry, female (% of female employment)” for the non-resource tax revenue. These critical masses are crucial for sustainable development because, below or beyond these thresholds, policymakers should complement the female economic inclusion with other economic measures designed to improve tax performance in Sub-Saharan Africa.
Public sector transparency and sustainable development: A focus on Sub-Saharan Africa
(Journal of Public Affairs (An International Journal) Volume24, Issue1 (Wiley), 2023-06-19) Erin Olayinka; Adegboye Alex; Uwuigbe Uwalomwa
Tax and sustainable development in sub-Saharan Africa
(UNU-WIDER, 2023) Adegboye Alex; Tagem Abrams M.E.
This paper establishes how accountability quality might mediate the effect of tax revenue on sustainable development in 41 sub-Saharan African countries for the period 1990–2019. The empirical evidence is based on three empirical strategies: generalized method of moments, instrumental variable Tobit, and quantile regressions. The following findings are revealed. First, accountability dynamics influence tax revenue in ways that have favourable net effects on sustainable development. Second, the conditional impacts between accountability dynamics and tax revenues are constantly negative, even though the demonstrated net effects are compatible with the paper’s theoretical predictions. Third, the net consequences are decomposed to establish thresholds for further policy. Thresholds are points where there are no net effects and where further intensifying accountability dynamics would produce adverse net impacts. At the stated thresholds, further policy actions must be complemented with accountability dynamics in order to modulate tax revenues for strong sustainability. We conclude that policy makers in sub-Saharan African nations should coordinate measures that improve accountability in view of other complementary policies, because accountability serves as a ‘force multiplier’ enhancing the absorptive capacity of tax mobilization, which in turn promotes strong sustainability.
Tax and sustainable development in sub-Saharan Africa
(WIDER Working Paper 2023/54, 2023-04) Adegboye Alex; Abrams M. L.
Abstract: This paper establishes how accountability quality might mediate the effect of tax revenue on sustainable development in 41 sub-Saharan African countries for the period 1990–2019. The empirical evidence is based on three empirical strategies: generalized method of moments, instrumental variable Tobit, and quantile regressions. The following findings are revealed. First, accountability dynamics influence tax revenue in ways that have favourable net effects on sustainable development. Second, the conditional impacts between accountability dynamics and tax revenues are constantly negative, even though the demonstrated net effects are compatible with the paper’s theoretical predictions. Third, the net consequences are decomposed to establish thresholds for further policy. Thresholds are points where there are no net effects and where further intensifying accountability dynamics would produce adverse net impacts. At the stated thresholds, further policy actions must be complemented with accountability dynamics in order to modulate tax revenues for strong sustainability. We conclude that policy makers in sub-Saharan African nations should coordinate measures that improve accountability in view of other complementary policies, because accountability serves as a ‘force multiplier’ enhancing the absorptive capacity of tax mobilization, which in turn promotes strong sustainability.