Recent Submissions

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Open Access
History and Society
(University of Lagos Press, 2004-12-07) Ade Ajayi, J.F.
My aim in this lecture, is to urge that we take a moment to analyse what is really wrong with our society and to suggest what we can and should be doing about it. The degree of violence and instability in our society is intolerable. It is no longer strange to hear that a number of students have used matchets to kill fellow students of the same institution on campus. There are always rumours that some people sacrifice their children in the search for wealth. And the number of corpses that turn up at shrines may be proof of this. Armed robbery and political assassinations are rampant. Business enterprises collapse because no one trusts any other, not even his brother or sister, to play fair. There is such instability and unpredictability that it becomes very difficult to initiate policies that could be sustained for a year or two before "unforeseen circumstances" necessitate a revision, if not reversion. The IMF prescribed Structural Adjustment. We tried it and the present regime goes from one reform agenda to another, but we remain ill at ease
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Open Access
Global Diffusion of Chinese Culture: The Case of Confucius Institute in Africa (Nigeria)
(Peking University, 2021-05) Oni, D.
For a rising power, China’s soft power diplomacy has assumed an unprecedented momentum. As a projection of its soft power diplomacy, the Chinese government has promoted the noble ideas of Confucius as well as the establishment of Confucius Institutes across the world. Obviously, the specter of soft power diplomacy is relatively large. It includes culture, language, public diplomacy, education systems, organization and promotion of various festivals and other related events. These are all geared towards the ability to attract and co-opt rather than coerce or use force to win international partners. In several African countries, the Chinese government and other relevant authorities have established a number of Confucius Institutes. This is done through mutual understanding and collaborative efforts with authorities of Chinese and African universities. In Nigeria, the desire to embrace the institute started around 2006, culminating in two CIs; Nnamdi Azikiwe University and University of Lagos. The CI at the University of Lagos has been designed to stimulate the study of Chinese language and culture. Since its establishment, the institute has recorded outstanding success in the promotion of Chinese language and culture across the Lagos metropolis and its environs especially through the Bridge program. In addition, the institute has organized several events to celebrate the Chinese New Year or Chinese Spring Festival, the Chinese Autumn Festival, the Chinese Independence Day celebration, among others. Similarly, the CI has also served as an avenue for the introduction of African cultures to Chinese scholars. Despite this important role, no scholarly study has been devoted to analyzing the role of the Confucius Institute in Africa with special focus on the University of Lagos. This gap in knowledge has undermined our understanding of the Confucius Institute as an instrument for the projection of Chinese culture and global diplomacy. The study aims to investigate the critical areas of intervention of the Institute in the promotion of Chinese culture and language. It adopts the narrative and analytical methodology to analyze the activities of the institute vis-à-vis the impact of the Institute on Africa. It recommends that effective management of the Confucius Institute is a sine qua non for the projection of China’s soft power diplomacy.
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Open Access
Exploring Alternative Approaches to Achieving Voluntary Tax Compliance in the Informal Economy of Nigeria
(2018) Ogunleye, O.J,; Iredele, O. O.; Ogunmeru, O.A.
Facilitating voluntary tax compliance especially in the informal sector is the goal of most developing countries but, the challenges of tax administration as well as the nature of businesses in the informal economy has hampered the revenue drive of many countries. This study aimed to determine if new models for tax collection would be beneficial for improving voluntary tax compliance and consequently tax revenue generated from the informal economy. The study investigated the level of voluntary tax compliance among taxpayers in the informal sector as well as the factors that influence tax compliance. A sample of 100 business owners comprising traders, artisans, shop owners and 17 tax officials from IfakoIjaiye Local Government Area (LGA) of Lagos State, Nigeria were selected using convenience sampling. Primary data elicited through a structured questionnaire was used to test the hypothesis that the level of tax compliance among informal sector operators would be significantly improved if taxes were collected through trade unions and trade associations or if a presumptive tax system was introduced. Findings from a descriptive analysis showed that the level of voluntary tax compliance in the informal economy was low and tax payers were not willing to voluntarily comply with tax laws because of the perception of high tax rates and misuse of tax revenue by the government. Results from a regression analysis showed that the introduction of a presumptive tax system would not significantly improve the level of tax compliance. Furthermore, the study found that tax compliance would be negatively affected if tax was collected through trade unions and associations. It is therefore recommended that government should be more accountable to the citizenry as regards utilisation of revenues to foster trust and tax rate for businesses in the informal sector should be reasonable. Also, a partial or full formalisation of businesses in the informal sector is recommended to enhance tax administration as well as ensuring voluntary tax compliance.
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Open Access
Transfer Pricing Regulations and Tax Compliance among Nigerian Companies
(2022) Adeyeye, G.B.; Bale, K.A.; Iredele, O.O.; Adeyeye, A.M.
This study investigates the effectiveness of transfer pricing regulations of 2018 and tax compliance among Nigerian companies. The main objective of the study is to examine how effective is transfer pricing regulations in curbing tax evasion through transfer pricing scheme. The population of the study is the staff of Federal Inland Revenue service in Lagos State who are involved in the operation and implementation of transfer pricing regulations. The sample of the study was 151 staff of Federal Inland Revenue service in Lagos randomly selected from the population. The study adopted survey research design, using a structured questionnaire to obtain primary data. The data were analysed using descriptive and inferential statistical techniques. The descriptive statistics used include percentages, mean, minimum, maximum values and standard deviation. The inferential statistical technique used was One sample t-test. A 5-point measurement scale was used to gauge the effectiveness of the transfer pricing regulations. Inferences were deduced at 5% level of significance. The result of the analysis indicates that transfer pricing regulations is effective in curbing tax evasion perpetrated through transfer pricing scheme. By way of recommendation, it was suggested that tax authorities should continue to reinvigorate their strategies in checkmating loopholes exploited by the taxpayers to perpetrate tax fraud through transfer pricing. Tax authorities must be trained appropriately from time to time on the various dimensions of the strategies used by unscrupulous taxpayers to evade and avoid tax; and how the impact of such strategies could be reduced to the barest minimum.
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Open Access
Creative Accounting and Shareholders Wealth Maximization in Listed Consumer Goods Companies in Nigeria
(Copernican Journal of Finance & Accounting, 2022) Iredele, O.O.; Adeyeye, G.B.; Owoyomi, E.B.
This study examines the effect of creative accounting practices on the share￾holders wealth of 90 firm-year observations of ten (10) consumer goods companies list￾ed on the Nigerian Stock Exchange (NSE). Ex post facto research design was adopted us￾ing dataset for the period 2011–2019 which were collated from the annual reports and financial statements of the listed consumer goods companies. Four hypotheses were proposed and tested using pooled panel data regression. Findings revealed that fre quent changes in inventory valuation method and assets valuation methods respective ly have significant effect on shareholders wealth, while frequent changes in deprecia tion methods and liabilities valuation methods do not significantly affect shareholders’ wealth. The study recommends that external auditors should pay attention to discre tionary items in the financial statements in order to ensure that the assumptions used by managers are fair. Regulators should also evaluate the adequacy of policies around inventory and assets valuation while financial analysts and shareholders should note the application and consistency of accounting policies on inventory and assets.