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Godfrey O. OMOJEFE
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Economics, Econometrics & Finance

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The Impact of Revenue from Treasury Looting on The Economic Performance of Nigeria Victor Chibuike EBERECHI; Ebele P. IFIONU; Godfrey O. OMOJEFE
International Journal on Economics, Finance and Sustainable Development (IJEFSD) Vol. 6 No. 1 (2024): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v6i1.5192

Abstract

This study investigates the intricate relationship between revenue from treasury looting and economic performancein Nigeriafrom 1990 to 2021.The study employs secondary data which were gotten from various sources such as the Central Bank of Nigeria Statistical Bulletin and the Nigerian Bureau of Statistics. The findings of the study reveal several key insights. First, corruption through treasury lootingsignificantly negatively impacts Nigeria's economic growth. Higher perceived corruption levels are associated with lower GDPGR, highlighting the adverse effects of corruption on economic development.Second, the study identifies a positive short-term relationship between the growth rate of reported looted funds (TLFN) and GDPGR. However, this effect may not be sustainable in the long run, raising concerns about the sources and implications of such funds on the economy.The practical implications of these findings underscore the imperative of anti-corruption efforts in Nigeria. Strengthening governance, enhancing transparency, and implementing effective anti-corruption measures are essential for promoting sustainable economic growth. While short-term economic boosts from looted funds may occur, they are not a viable strategy for long-term development and can undermine trust in the economy.This study contributes to the ongoing discourse on corruption and economic performance in Nigeria and provides valuable insights for policymakers, stakeholders, and researchers. It emphasizes the need for sustained and comprehensive efforts to combat corruption and foster an environment conducive to economic prosperity in the country.
Unification of Foreign Exchange Markets and Economic Growth Ololade Sikiru ONIYIDE; Ebere P. IFIONU; Godfrey O. OMOJEFE
International Journal on Economics, Finance and Sustainable Development (IJEFSD) Vol. 6 No. 1 (2024): International Journal on Economics, Finance and Sustainable Development (IJEFSD
Publisher : Research Parks Publishers

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31149/ijefsd.v6i1.5194

Abstract

This research study delves into the intricate relationship between exchange rate unification and its implications for economic stability, with a specific focus on the Nigerian context. Exchange rate unification, the process of transitioning from multiple exchange rate systems to a single unified rate, holds the potential to reshape an economy's dynamics, affecting investor confidence, trade balances, and overall macroeconomic stability. Through a comprehensive examination of pre-unification and post-unification exchange rate data and gross domestic product data, this research uncovers patterns in currency valuation, volatility, and investor sentiment. The study employed secondary data gotten from the Central Bank of Nigeria statistical bulletin. The study explores the changes in the mean and variability of exchange rates, highlighting shifts in currency dynamics after the unification process. The study found that there are variations in the pre and post-unification era which has economic effect potentials. Also, the study evaluated the quarterly trend of GDP from the first quarter of 2022 to the first quarter of 2023. The result exhibits a mixed trend across various sectors, with the influence of the exchange rate unification potentially being a key driver in shaping these trends in 2023. The impact of unification on currency stabilization, international trade, and investor confidence may have contributed to the overall growth trend. The study recommends renewed exchange rate management strategies, investor communication approaches, export diversification tactics, fiscal resilience planning, and risk management techniques for businesses.
Co-Authors Ebele P. IFIONU Ebere P. IFIONU Ololade Sikiru ONIYIDE Victor Chibuike EBERECHI