Browsing by Author "Orbunde, Bemshima Benjamin"

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    IMPACT OF COLLECTIVE INVESTMENT SCHEME ON FINANCIAL MARKET DEVELOPMENT IN NIGERIA
    (Banking and Finance Department, Nasarawa State University, Keffi, 2015-10-01) Orbunde, Bemshima Benjamin
    In any economy there exists a financial system that regulates the financial environment o f that economy. This study thus aims at assessing the impact of Collective Investment Schemes (CIS) to financial market development in Nigeria. The study applied a non-experimental research design using regression analysis (ordinary least square) to address the hypothesis o f the study. The. study identify two financial market variables like Capital Market Investment and Money Market Investment to measure how CIS, investable fund has impacted on the financial market development. Augmented Dickey Furled (ADF) Unit root test was tested to ascertain the stationarity o f the data. Findings from the study showed that CIS were found to have influenced the growth o f financial markets positively and equally significantly. It was observed that CIS lias significant and positive relationship with CMI. The findings further showed that CIS investment in the area o f bonds and equity funds have contributed immensely to the growth of money market (MM) in Nigeria. The study thus recommends that the apex regulators o f the financial market like SEC, NSE and CBN should create more awareness for investors in the financial market to mobilize themselves into institutional investors like CIS firm s to participate fully in the financial market through investment in Capital' Market and Money Market Investments. Collective Investment Schemes are vital vehicle for developing the financial market in both developed and developing economies and as such Nigeria should have to take advantage o f it to develop its financial system.
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    Impact Of Interest Rates On Saving Mobilization In Nigeria
    (Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2016-07-05) Iyere, Samuel Iheonkhan; Orbunde, Bemshima Benjamin
    Before the deregulation of interest rates in Nigeria, the current rates of interest were regulated and controlled by government through the Central Bank of Nigeria (CBN). This was meant to guide the economy lo follow the desired direction. However, it was soon realized that (he low rates of interest that prevailed could not sustain savings mobilization in the country. The study thus seeks to empirical!) examine the impact of interest rales on savings mobilization between 1987 and 2014 using Ordinary Least Square (OLS) regression method. Unit root test was employed to lest the stationary levels of the variables before conducting the regression analysis. The stationary variables were subsequently used for the analysis to avoid spurious regression results. The co-integration results showed that long-run equilibrium relationship exist among the variables used for the analysis. The findings from the study showed that interest rate on savings have positive and significant relationship with saving mobilization in Nigeria. It showed that the higher the interest rates, the higher the savings mobilization in Nigeria. Suggestive from the analysis therefore is that the monetary authorities should embark on routine efforts at bridging the widened gap between interest rates on savings and savings mobilization to foster a moderate rise in nominal interest rates and stabilize inflationary pressure. This would further encourage and generates needed loardable funds for investment in Nigeria.
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    Role Of Nigeria Stock Market On The Mobilization Of Investment Capital
    (Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2017-06-05) Iyere, Samuel Iheonkhan; Orbunde, Bemshima Benjamin; Uwaleke, Uchenna Joseph
    Over the years, there has been misconception on the roles the stock market plays in mobilization of investment capital. These misconceptions arose from the fact that once the investors invest in the stock market their money or investment will be lost and eroded due to certain factors such asunslable and unfavorable regulatory policies that most time affects investment of ■ investorsreducing investors gain or eroding their capital. The study thus examined the role of stock exchange markets towards mobilization of investment capital in Nigeria between 2000 and 2015 using ordinary least square (OLS) regression method of analysis. Pre-estimation diagnostics results showed that the variables were found stationary after first difference and they all have long-run equilibrium relationship among them. Findings from. the study revealed that market Capitalization index, a measure of the growth of the stock exchange market impacted positivelyon gross domestic investment. It showed that market Capitalization has significantly enhanced the growth of Gross domestic investment in Nigeria. More—so, total value of traded stock (TVT) has no significant impact on Gross domestic investment (GDI) in Nigeria, Total value of traded stock was found to have positively enhanced the growth of investment levels in Nigeria. the study thus suggests that there is the need to restore confidence to the market by regulatory authorities through ensuring transparency and fair-trading transaction and dealing in the stock exchange. It must also address the reported case of abuse and sharp practices by some companies in the market.