According to Jensen (2006), an agency relationship is a contract under which one or more persons (principal) engages another person (the agent) to perform some services on their behalf which involves delegating some decision-making authority to the agent. The cornerstone of agency theory is the assumption that the interests of principals and agent diverge. According to agency theory, the principal can limit divergence from his/her interest by establishing appropriate incentives for the agent, an... read more

In the 60’s especially before the civil war in Nigeria cash crops from Agricultural sectors mining and a few others provide much of the foreign exchange earnings. In this period 70 percent (70%) of the nation’s labour price was on agriculture and this contributed to about 70 percent of the gross domestic product (GDP) this contribution of agriculture to GSP saw a decline in the agricultural sector led the nation into important of food this means a compete reverse in trend of averts. Howe... read more

The growth and development of international trade along west African coast played a major role in extending the medium of exchange beyond trade by barter in the nineteenth century. The ‘’native currency’’ system which relied on item such as manila, cowries, brass and copper rods had to accommodate foreign currencies such as Maria Theresa dollar and British silver coins increased trade motivated the setting up of the Bank of British West African [BWA] in 1894, thereby drastica... read more

One major function of the government especially in the developing country such as Nigeria is the provision of infrastructure service such as electricity, pipe born water, hospital, school and access roads and also ensure a rise in the per capital income, poverty alleviation to mention but few. For this service to be adequately provided, government should have enough revenue to finance them. The task of financing the enormous responsibility is one of the major problems facing the government. Givi... read more

Insurance industry is a very vital aspect of Nigeria economy, and its importance and roles can not be overemphasized, in this project work the researcher want to identify the history of insurance industry in the Nigerian economy and also the actual roles and the importance of insurance industry to the common man and the society at large, such roles and importance includes in every sector of the economy, like, the banking sector, Agricultural sector, aviation sector, Business sector etc. ... read more

History, the commonest enemy of the people of rural communities in all races or cultures is the tax collectors. In the Bible, they were regarded as sinners just for the sake of their freely chosen and legitimately recognized occupation. In the biblical context, it was even offensive to dine with tax collectors since that meant contaminating oneself. Imagine the degree of hatred. The history of cultures depict the same picture of hatred for both the tax (tribute) collectors and their employee... read more

The inter-bank market in foreign exchange is used for trading in foreign currencies – main vehicle for generating autonomous inflow of foreign exchange into the banking system. La licensed banks, development banks and the central bank are active traders the market. These banks intermediate for their corporate and individual customers that engage in international trade and investment. The are always prepared to buy form or sell foreign currencies to their customers in both the spot and forwa... read more

Value added tax is a concept in Nigeria introduction in January 1994.It antecedent contract to 1987 when structural adjustment programme [SAP]was introduced in the country. The architects of (SAP) which include the world bank and international monetary fund (IMF) had advised on total review of tax system in the country as a panacea for economic recovery. The federal military government responded by setting up several committee in succession, which culminated in the introduction of VAT in 1... read more

The economy of any county regardless of its structure is normally regulated by certain policies developed by the government of such a country. Among these policies there are economic policies, social policies etc. However, the economic policies are more fundamental in that it serves as a foundation for the success of other policies of the government. The constituent elements of these economic policies need to be manipulated, and most of them simultaneously for the desired result. One of the e... read more

economic development is the first priority of every developing nation, Nigeria being a developing nation is no exception. The concept of economic development is closely related to economic growth, these two concept are more often than not used interchangeably. Even among the economist, consensus had not yet been reached as to the difference between the two concepts. While one school of thought see the two as the same, the other school of thought differentiate economic development from increas... read more

In the past Nigerians solely depended on the exportation of agricultural product for their source of income,. This continued until the discovery of the presences of the presence of oil in our country, especially in part Harcourt. This made them (Nigerians) to divert form Agriculture to the exportation of oil to other countries, which was actually fetching them much money even till this present time. There are many subsidiary oil companies scattered all over the country but the bigg... read more

A money market is a market fro short term securities, it provides service that are essential to modern economy. According to professor G.O. Nwankwo “it offers access to variety of financial instruments that enables economic agent to pool price and exchange risk, through assets with attractive yields liquidity and risk characteristic, it encourage saving in financial firm”. This is very important for government and other institutions in need of short-term funds and to supplies of... read more

It is generally believed that man is a political being. In his effort to organize his society in ordering manner man evolved system or government. The problem o a workable system of government is the pivot of human political activities. Nigeria as a sovereign nation operates a federal system of government. In its federal character Nigeria is divided into three levels of government viz: - the federal government, state government and the local government councils. These three levels of gover... read more

A policy is a statement of basic principles that provides a framework in which performance is measured. One of the principal responsibilities of the central bank of Nigeria (CBN) is the formulation, monitoring and execution of monetary stability and economic development as well as ensuring sound financial system. The central bank of Nigeria employs various instruments in caring out these responsibilities. Before 1992, the CBN was under the federal ministry of finance. This has change presentl... read more

Growth is necessary to determine the performance and continual of any business organization. Without growth, a business can hardly attract good management to itself. The use of merger and acquisition as a growth and survival strategy in a depressed economy like ours appears to be on the increase in recent times. This is not surprising, considering the large number of business failures and foul-ups as result of advise micro and macro economic climate. In the face of such hostile bus... read more

Budgeting is essentially concerned with planning and its implementation of expected income and expenditure for a special period of time. There is need for good planning of the budget in every organization because any organization that does not plan and implement its budget is expected to encounter a lot of problems. These problem range from mismanagement of limited research to reckless management habit of not adhering to budgetary control measure. Budget and budgetary control are two accou... read more

The term low productivity refers to the inability of our public organization to produce up to installed capacity. It is when the organization produces up to installed capacity or something nearer that one can say that such organization is doing well. Nigeria is blessed with fiscal and human resources necessary for industrial development and buoyant economy. It has a large and e3xpanding consumption market as well as an emerging and aggressive group capable of exploiting opportunitie4is in bot... read more

Ever since the introduction given by Good to man to “Be fruitful and multiply” replenish and subdue the earth” man has alone a lot to pursue this injunction of subduing the earth. By this it entails among other things the development of the world as a macro society for the overall good of man- economically politically socially and otherwise. The wheel of change has been rolling on through the entire world transforming virgin lands deserts oceans and seas to the economic... read more

Small and medium scale enterprises play a crucial role in providing a solid base for a country’s socio-economy development. According to Nwankwu (1992) in a speech delivered on the financing opportunities of small and medium scale enterprises. It is estimated that probably up to 90% (ninety percent) of all registered categories of business organization in Nigeria are in the category of small and medium scale (SMSE). The small and medium scale enterprises produce goods and services for both ... read more

The concept of workers recruitment is the same in all firms. This is because organizations cannot operate without employees who would put other resources into useful outputs. Although the idea of recruitment differs in different firms, unlike small organization or firms. Other methods and strategies would be adopted since in some place due to the nature of the business, very few numbers of staff would be needed based on their available resources. It is obvious that firms recruits new e... read more