The velalive insufficiency of fund for capital investment is a common factor in every economy especially in developing counties of the world. In developing counties like Nigeria; the low level of capital investment manifest in high unemployment rates; low productivity and corresponding low standard of living for greater majority of the population. Finding a solution to this problem of providing fund for capital investment has been a major pre-occupation of financial institutions in Nig... 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

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

The Commercial Bank System shares a very important characteristic with other members of the financial sector and the rest of the business community; the desire to maximize profits and expand its share of the market. Commercial banks are profit-making enterprises and as such they share with other businesses the same set of expectations concerning the health of the economy. Banks act as financial intermediaries collecting deposits from one group and lending it out to another group. In this rol... 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

activities of the commercial banks. That single era produced many banks, which did not meet up the specifications and dictates of modern banking. And from 1957 to 2005, remainable changes have been provoked and witnessed in the Nigeria financial environment. It is in 1952 that the first Banking ordinance was introduces, vesting the control of banking in the financial secreting the colonialist. Consequently the Central Bank of Nigeria was established on March 17th 1958 by the central bank ord... 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

Fraud is whenever form is limitless in classification. This is the more reason why courts and writers on fraud haven / ways sly away from giving it a particular definition last discuss it under whatever form it prevent itself, so here, there has never been a single definition of term fraud. Not with standing the varied meaning accepted to the concept of financial fraud the concept of financial fraud the author address the subject with following working condition. Oxford and charison... read more

In the past, when audit or auditing is not well known, many account used the opportunity to look public companies because there was no one to examine and give evidence to what they have done, but this has changed since everybody has know known the importance of audit department. So this chapter examines the regulatory framework for enforcing accountability in the ministry of fiancé Enugu state and Infact in the entire civil service. In finance management, this is to ac... 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

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

Every society is made up of individuals, who agree to come under one unit and to be governed as an entity for the society to function effectively, some individual must manage its affairs as it affects the society over all good, be it financial goal, social goal or political goal. Against this background of managing the affairs of the society funds must be raised and used to achieve some of the goal of the society. The funds must rest in the hands of the people’s representatives, to be administ... read more

“Business without auditing stifles public confidence and auditing without law is force” (Emile wolf) Auditing occupies a very critical position in the business life of any society both industrialized and non industrialized countries like Nigeria and other west African countries. This implies that auditing plays a critical and improtant role in the economic development of any nation. This is more importance as business, which is the mainstay/ bedrock of the economy is fast growing.... read more

The first of through of introduction manufacturing companies into various human endeavours was first mulled by the early English scientist. The aim was to ascertain productivity and quality of goods and services. Manufacturing may be expressed as a system of changing/converting raw materials into a finished product suitable for consumption. It involves activities in changing the reverse formation of raw materials to the formation through the use of machines. In addition, manufacturing is... read more

Accounting is important not because it is a product of its environment, but rather because it shape its environment and plays a significant role in the conduct of economic, social, political legal and organizational decision and action. In the colonial days, most Nigeria was engaged in agriculture at subsistence level. Industrial activities were carried out by the very few number of British companies then available. There were therefore hardly any organized major econom... read more

The concept of internal control system is becoming increasingly useful in the practice of modern audit that it will be worth while understanding the subject matter and the role it plays in the effective management of a business enterprise. The existence of internal control system in an organization is of great assistance to both the management and the auditions of such an organization. Not only does it aid the management in the process of decision making, it also provide a base upon... 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 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

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

Small scale industries, although has no consensus definition, has been known to assume various dimension in different country. In L.L Ahukannah and his college text titled commerce for senior secondary school classified retail shop into: small – scale traders and large – scale trader which means that small scale trade is under retail trade. In addition. The parameter could equally be the size of human, sales, capital invested and other resources. Finance on other ha... read more