Ayodeji Aluko and Mahmood Bagheri
Money laundering is indeed a global phenomenon which undermines the economic and political stabilities of States. However, as much as money laundering is a global phenomenon, over…
Abstract
Purpose
Money laundering is indeed a global phenomenon which undermines the economic and political stabilities of States. However, as much as money laundering is a global phenomenon, over the last decade, it has been apparent that development countries have been more exposed and vulnerable to its exploits. Thus, the purpose of this paper is to evaluate, specifically, the impact of money laundering on economic development, financial stability and also political development of “developing countries”. Hence, the aim and purpose of the paper is to deeply analyse the immense scale, concise effect and impact of the phenomenon of money laundering that hinders economic and political growth in developing countries in contrast to the developed countries. The paper also intends to examine the above issues in the context of Nigeria as a developing country.
Design/methodology/approach
In developing this paper, emphasis was placed on primary sources of information and references to secondary sources of information where relevant. Therefore, the methodology employed in this paper is analytical and based on the facts reflected in the secondary sources and also legal and socio‐economic analyses of money laundering phenomenon.
Findings
The phenomenon of money laundering, amongst other economic and financial crimes have had better success in infiltrating into the economic and political structures of most developing countries therefore resulting to economic digression and political instability. Although, developing countries have responded and continue to respond, through legislative measures, to the menace of money laundering, at national level, however, money launderers, have exploited the lax regulatory environment, vulnerable financial systems along with persistence civil and political unrest of most the developing countries. The findings of the paper also highlight the relationship between corruption and money laundering in developing countries.
Originality/value
The paper is very unique in its approach as it combines legal analyses with social philosophy or combating money laundering and from a perspective of law of development both at the national and international levels, it focuses on the negative impacts of money laundering on the development of developing countries such as Nigeria.
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Adedayo Ayodeji Odebode, Timothy Tunde Oladokun, Oyeronke Toyin Ogunbayo and Joseph Bamidele Oyedele
The upward rise of the prolonged payback period and the inability of the project to generate estimated income that has been linked with the irregular rent payments has been a…
Abstract
Purpose
The upward rise of the prolonged payback period and the inability of the project to generate estimated income that has been linked with the irregular rent payments has been a major problem confronting real estate investment. Given the fact that real estate investment is a risky investment venture with a highly uncertain future stream of income, this paper examines the effectiveness of rent recovery strategies in the emerging Nigeria residential real estate practice.
Design/methodology/approach
The study employed an exploratory research design. The study identified the five recovery strategies adopted by the estate surveying and valuation firms in Ibadan Metropolis, Nigeria. The study adopts a purposive sampling method to select 52 registered estate firms in the study area and a questionnaire using a five-point Likert scale was used to elicit information. The data obtained were analyzed using descriptive and inferential statistics.
Findings
The result showed that the rent recovery strategies adopted by the respondents include email approach, rent reminder notice, adequate maintenance, eviction notice and dialogue approach. The perceived top-rated strategies that could influence estimated income were dialogue and rent reminder notice. Also, the findings showed the factors that influence the choice of strategy are property type, company policy and the proportion of rent to the tenant's income.
Practical implications
The study has an implication for real estate investors and property practitioners regarding the willingness of the investors to invest in real estate investment.
Originality/value
This paper is relevant given the fact that the rental property market is prone to risk that could impede the regular streamflow of income. This serves as a need for examination of the effectiveness of adopted rent recovery strategies as it relates to real estate property management practice and investment viability.
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Richard Adeleke, Opeyemi Alabede, Tolulope Osayomi and Ayodeji Iyanda
Globally, corruption has been identified as a major problem. Even though corruption is widespread, it varies in magnitude, types and consequences. In Nigeria, corruption is…
Abstract
Purpose
Globally, corruption has been identified as a major problem. Even though corruption is widespread, it varies in magnitude, types and consequences. In Nigeria, corruption is endemic, and it is responsible for the many socioeconomic problems in the country. Hence, the study aims to determine the patterns and state level correlations of corruption in Nigeria.
Design/methodology/approach
Data for this study were sourced from the National Bureau of Statistics and other official sources and were analyzed with Global Moran’s I, Local Moran’s I and multivariate step-wise regression.
Findings
This study’s findings revealed significant clustering of corruption in the country with Rivers States as the only hotspot (I = 0.068; z = 2.524; p < 0.05), while domestic debt and market size were the state level significant predictors.
Research limitations/implications
Only bribery as a form of corruption was examined in this study, more studies are needed on the predictors of other forms of corruption.
Practical implications
This study recommends increased market competition through investment grants, subsidies and tax incentives to facilitate trade interactions among Nigerians, which can lead to exchange of cultural norms that discourage corruption. It is also advocated that domestic debt must be effectively and efficiently channelled towards economic development which in the long run will have a positive impact on the socio-economic well-being of the citizens as well as drive down corrupt practices.
Originality/value
Although the causes of corruption have received considerable attention in the literature, little is known on the geographical distribution and the effect of market size and domestic debt on corruption in Nigeria.
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Ijaz Hussain Shah and Kinza Aish
Many studies of corruption and money laundering (ML) have been conducted throughout the previous few decades. The impact of corruption and ML on economic growth, banking…
Abstract
Purpose
Many studies of corruption and money laundering (ML) have been conducted throughout the previous few decades. The impact of corruption and ML on economic growth, banking performance and corporate financial performance has been the focus of various research. The present study aims to investigate the relationship between ML, corruption and inflation.
Design/methodology/approach
This study used the panel data of five South Asian countries from 2013 to 2019 (Pakistan, India, Bangladesh, Sri Lanka and Nepal). Further, fixed effect (FE) and random effect (RE) econometric regression models are used to analyze the data. Additionally, generalized methods of moment (GMM) technique is used to check the results robustness.
Findings
This study discovered that corruption and ML have a significant and positive link with inflation in five South Asian nations using the corruption perception index and the anti-money laundering (AML) index.
Practical implications
This research advises that government authorities strengthen anti-corruption and AML laws enforcement.
Originality/value
To the best of the authors’ knowledge, this is the first paper that explains the linkage between corruption, ML and inflation in five south Asian nations.
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John Aliu, Doyin Hellen Agbaje, Ayodeji Emmanuel Oke and Andrew Ebekozien
The main objective of this study is to evaluate the driving forces behind the adoption of indoor environmental quality (IEQ) principles in building designs from the perspectives…
Abstract
Purpose
The main objective of this study is to evaluate the driving forces behind the adoption of indoor environmental quality (IEQ) principles in building designs from the perspectives of Nigerian quantity surveying firms.
Design/methodology/approach
A quantitative approach was used which involved administering a well-structured questionnaire to a sample of 114 quantity surveyors. The collected data were analyzed using various statistical methods, including frequencies, percentages, mean item scores, Kruskal–Wallis test and exploratory factor analysis.
Findings
The top five ranked drivers were climate change mitigation, conservation of natural resources, reduction of waste and pollution, use of sustainable building materials and development of new materials and building systems. Based on the factor analysis, the study identified five clusters of drivers: (1) health and well-being drivers (2) economic drivers (3) environmental drivers (4) innovation and technology drivers and (5) regulatory drivers.
Practical implications
The findings from this study suggest that to effectively integrate IEQ principles, quantity surveying firms should consider developing comprehensive guidelines and checklists that align with the identified drivers and clustered categories. These resources can serve as practical tools for project teams, facilitating a structured and holistic approach to the incorporation of IEQ factors throughout the project lifecycle.
Originality/value
The study’s identification of the top drivers and the subsequent clustering of these drivers into five distinct categories contributes to the existing body of knowledge on IEQ. This approach provides a structured framework for comprehensively understanding the factors influencing IEQ adoption, offering a valuable tool for researchers, policymakers and industry practitioners.
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The ability of construction contractors to engage in construction bond agreement with guarantors depends on capital, experience, capacity and continuity. Using these criteria, the…
Abstract
Purpose
The ability of construction contractors to engage in construction bond agreement with guarantors depends on capital, experience, capacity and continuity. Using these criteria, the purpose of this paper is to provide insights into the bonding capacity of Nigerian contractors.
Design/methodology/approach
Factors required for bonding were examined based on a set of questions addressed to managers of contracting firms and personnel involved in issuing bonds and guarantees in commercial banks and insurance companies. The scorecard approach was employed to determine the bonding capability of the contractors.
Findings
Contractors’ financial strength and past performance on previous projects are the two important factors considered by guarantors in granting bond to contractors. However, the condition surrounding the bond, the legal capacity of the guarantor to issue bond and the identity of the guarantor are mostly considered by contractors in approaching a potential guarantor. Using the scorecard approach, about one-third of contractors have the necessary requirements to engage in construction bond agreement with guarantors. This ability of contractors is affected by years of experience of the firm but not by their location nor years of experience of their manager.
Practical implications
It is necessary for contracting firms to increase their capital base through merging, borrowing, etc., and also engage experienced professionals and workers in the execution of construction projects, as this will eventually improve their bonding ability.
Social implications
The study is limited to construction contractors registered with Ondo and Lagos State Governments and guarantors that are banks and insurance companies in Nigeria.
Originality/value
The paper specified various areas of concerns for Nigerian contracting firms in their bid to enhance their bonding ability. This will help them in overcoming various challenges and bottlenecks that may arise in securing bonds and guarantees from guarantors.
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Saheed Adewale Omoniyi, Michael Ayodele Idowu, Abiodun Aderoju Adeola and Adekunle Ayodeji Folorunso
This paper aims to review the chemical composition and industrial benefits of oil extracted from dikanut kernels.
Abstract
Purpose
This paper aims to review the chemical composition and industrial benefits of oil extracted from dikanut kernels.
Design/methodology/approach
Several literatures on chemical composition of dikanut kernels, methods of oil extraction from dikanut kernels and chemical composition of oil extracted from dikanut kernels were critically reviewed.
Findings
The review showed that proximate composition of dikanut kernels ranged from 2.10 to 11.90 per cent, 7.70 to 9.24 per cent, 51.32 to 70.80 per cent, 0.86 to 10.23 per cent, 2.26 to 6.80 per cent and 10.72 to 26.02 per cent for moisture, crude protein, crude fat, crude fibre, ash and carbohydrate contents, respectively. The methods of oil extraction from dikanut kernels include soxhlet extraction method, novel extraction method, enzymatic extraction method and pressing method. The quality attributes of dikanut kernel oil ranged from 1.59 to 4.70 g/100g, 0.50 to 2.67 meq/Kg, 4.30 to 13.40 g/100g, 187.90 to 256.50 mg KOH/g and 3.18 to 12.94 mg KOH/g for free fatty acid, peroxide value, iodine value, saponification value and acid value, respectively. Also, the percentage compositions of oleic, myristic, stearic, linolenic, palmitic, lauric, saturated fatty acids, monosaturated fatty acids and polyunsaturated fatty acids ranging from 0.00 to 6.90, 20.50 to 61.68, 0.80 to 11.40, 0.27 to 6.40, 5.06 to 10.30, 27.63 to 40.70, 97.45 to 98.73, 1.82 to 2.12 and 0.27 to 0.49 respectively. The results showed that dikanut kernels has appreciable amount of protein, carbohydrate and high level of fat content while oil extracted from dikanut kernels have high saponification value, high myristic acid and high lauric acid.
Research limitations/implications
There are scanty information/published works on industrial products made from oil extracted from dikanut kernels.
Practical implications
The review helps in identifying different methods of extraction of oil from dikanut kernels apart from popular soxhlet extraction method (uses of organic solvent). Also, it helps to identify the domestic and industrial benefits of oil extracted from dikanut kernels.
Originality/value
The review showed that oil extracted from dikanut kernels could be useful as food additive, flavour ingredient, coating fresh citrus fruits and in the manufacture of margarine, oil creams, cooking oil, defoaming agent, cosmetics and pharmaceutical products.
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Chebangang Hyacinth, Chi Aloysius Ngong and Josaphat Uchechukwu Joe Onwumere
This research empirically investigates the evidence of the financial development and economic growth nexus in sub-Saharan Africa from 1995 to 2022.
Abstract
Purpose
This research empirically investigates the evidence of the financial development and economic growth nexus in sub-Saharan Africa from 1995 to 2022.
Design/methodology/approach
A series of preliminary tests are conducted before using the two-stage estimated generalized least squares and robust least squares methods for the analysis. Two indices are constructed to measure financial development: one for the banking sector indicators and another for the market-based indicators (Ustarz and Fanta, 2021).
Findings
The results indicate that the banking sector index significantly impacts the gross domestic product (GDP) per capita positively. The market sector index has a negatively significant effect on the GDP per capita. Government expenditure has a positive impact on the GDP per capita.
Research limitations/implications
Policymakers in sub-Saharan Africa should improve and implement finance–growth inclusive strategies that promote financial reforms and development to efficiently impact all population sectors. Policymakers should take stringent measures to ensure that the banking sector's development is sustainable to lead economic growth. The governments should strategize and promote capital market development using favorable listing rules for companies in the stock markets. Global stock market integration should be encouraged to diversify risks, increase public awareness, raise investors' confidence level and reduce stock market impediments like high taxes and regulatory barriers.
Originality/value
Previous study findings on the financial development and economic growth nexus are inconclusive and debatable. This study employs the financial development index approach.
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Prince Agwu, Ifunanya Agu, Nkoli Ezumah, Chinyere Mbachu and Obinna Onwujekwe
Sexual and reproductive health (SRH) interventions demand diverse services, encompassing medical, social and psychological care to ensure the overall wellbeing of service users…
Abstract
Purpose
Sexual and reproductive health (SRH) interventions demand diverse services, encompassing medical, social and psychological care to ensure the overall wellbeing of service users. In the absence of multidisciplinary response to SRH interventions, service users could be deprived of crucial SRH services, which could undermine their safety and wellbeing. Based on this knowledge, our study was designed to map the interprofessional space in primary healthcare (PHC) facilities in Ebonyi State, Nigeria that deliver SRH services.
Design/methodology/approach
Interviews with 20 health workers and group discussions with 72 young people aged 15–24 years provided the data for the study. We analyzed data deductively, focusing on the assessments of the presence or absence of specific professionals that are typically expected to provide different aspects of SRH services.
Findings
We found conspicuous absence of laboratory diagnostic, social care, psycho-cognitive and some medical services expected of primary care. These absences necessitated unnecessary referrals, encouraged breaches in confidentiality, undermined social care and justice, increased cost of care and discouraged young clients from utilizing SRH services provided in PHCs. Our study, therefore, emphasizes the need for integrated care in the delivery of SRH services, which would involve relevant diverse professionals contributing their expertise toward comprehensive care for SRH service users.
Originality/value
The study provides human resource insights toward strengthening primary healthcare in Nigeria vis-à-vis efficient delivery of SRH services to guarantee the health security of service users.
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Samuel Kotey and Shanmugapriya T.
This paper aims to investigate the factors influencing trade artisans’ choice of skills selection as apprentice’s trainee in the Ghanaian construction sector and to identify and…
Abstract
Purpose
This paper aims to investigate the factors influencing trade artisans’ choice of skills selection as apprentice’s trainee in the Ghanaian construction sector and to identify and address the challenges associated with traditional apprenticeship. Trade artisans with technical know-how in construction and general workplace skills from the traditional apprenticeship training (TAT) in the area of construction were selected from selected sites and training centers.
Design/methodology/approach
This paper adopted the purposive sampling technique with the aim of gathering knowledge from individuals with expertise in the research area, particularly trade craftsmen who have been trained through the TAT system and are directly involved in construction-related works. Partial least square structure equation modelling (PLS-SEM) analytical approach and principal component analysis were used to reduce the dimensionality of the data set and preserve as much information as possible.
Findings
Three major components, namely, personal and social interest, job assessment and stability and family and faith were identified as the variables that influence an artisan's choice of a skill trade. These influenced the choice of apprenticeship training by young trainees in choosing apprenticeship as a mode of training. Personal interest, living situation of artisans and parents’ educational attainment are the most influencing factors that determine artisans’ choice of selected trades. Moreover, the study also shed light on the challenges inherent in traditional apprenticeship systems, such as the lack of formal technical education, limited access to modern technology and information and poor working conditions.
Practical implications
The study underscores the imperative for stakeholders to enhance apprenticeship programmes within the construction sector. This involves providing more stable job opportunities, improving working conditions and offering access to modern technology and information. Such enhancements not only attract more young individuals to apprenticeship training but also ensure the sustainability and relevance of the workforce in meeting industry demands.
Originality/value
The study finally developed a model that could be used as a foundation for future PLS-SEM evaluation and identified the factors that influence the selection of apprenticeship training by trade artisans.