ABARI-OGUNSONA TITILOLA ATINUKE

Economics

At the Economics department office

Appointment on Visitation important

Topic: Financial And Development Economics

Description:

The important role that finance plays in an economy can neither be undermined nor overemphasized.

Issues such as Availability of Funds, Cost of Capital, Interaction of demand and supply of funds,Monetary policy instruments which includes the Monetary Policy Rate is crucial in determining achievement of set macro economic goals or objectives of the government which would lead to development of a nation's economy or otherwise.

The development of the financial structure, money markets , capital markets, Banking and other Financial Institutions is pertinent to achieve real development especially in developing economies like Nigeria.

#	Certificate	School	Year
1.	M.Sc (Finance)	Bells University of Science and Technology	2016

Effects of Islamic Banking and Insurance on Consumer Goods Sector in Nigeria

The study investigated then effect of Islamic banking sector and Insurance sector on consumer goods sector in Nigeria.

Data from Nigerian Stock Exchange was used covering a period of 5 years from May 2011 - February 2015. Islamic banking was measured as Stock Market Capitalization in Lotus Islamic Index, Insurance measures as Insurance Index and Consumer sector measured as Stock Market Capitalization of Consumer Index. Augumented Dickey Fuller test (ADF) was carried out to test for existence of unit root, Johansen cointegration test was employed to test for long run relationship among the variables and error Corection test was carried out to determine the effect of Islamic banking and insurance sectors on consumer Foods sector.

This Study revealed that Islamic banking and Insurance sectors has positive and statistically positive effect on Consumer Goods sector. Furthermore, results from the Johansen Co-Integration test showed clearly the existence of long-run relationship among Islamic banking, Insurance and Consumer goods sectors in Nigeria.

This study recommends an improvement in Legislative framework for Islamic banking in Nigeria in order to optimize the impact of the sector on the consumer goods sector, Massive investment in ICT to help redeem waning image by ensuring prompt settlement of verified claims. This can be effectively done through the adoption of a creation of a single customer data base.

In addition, massive public and private investment should be done in the area of Human Capital development to ensure increase in productivity in all sectors,

ABARI-OGUNSONA TITILOLA is a Assistant Lecturer at the Department of Economics

ABARI-OGUNSONA has a M.Sc in Finance from Bells University of Science and Technology