IOSR-JEF   Volume-5 ~ Issue-4

Abstract: Oil as the mainstay of the Nigerian economy, accounts for over 95 percent of its foreign earnings and about 83 percent of its budgetary allocation, to this end, changes in oil prices has implications for the Nigerian economy and, in particular, exchange rate movements. The latter is mostly important due to the double dilemma of being an oil exporting and oil-importing country, a situation that emerged in the last decade. The study examined the effects of oil price, external reserves and interest rate on exchange rate volatility in Nigeria using annual data covering the period 1970 to 2011. The long run relationship among the variables was determined using the Johansen Co-integration technique while the vector correction mechanism was used to examine the speed of adjustment of the variables from the short run dynamics to the long run equilibrium. It was observed that a proportionate change in oil price leads to a more than proportionate change in exchange rate volatility in Nigeria; which implies that exchange rate is susceptible to changes in oil price. The study therefore recommend that the Nigeria government should diversify from the oil sector to other sectors of the economy hereby dwindling the impact of crude oil as the mainstay of the economy and overcome the effect of incessant changes in crude oil prices which often culminate into macroeconomic instability.

Keywords: Oil Price, Exchange rate volatility, Johansen Co-integration, Vector Error Correction Model Jel Classification: O24 C22 F41

Abstract: The purpose of this study is to identify and understand the accountability in financial management in a religious organization items, namely mosque. The research was conducted in Abu Dhar Al-Ghifary mosque normally functioned as the center of religious and social as well as business activities. Interviews with the managements of the mosque were conducted. Transcendental phenomenology was employed in this study to analyze the qualitative data. The findings of the study reveal that, first, accounting is defined as the financial management in mosque. Second, accountability is a spiritual calling defined as the mandate on the dimension of the relationship between human being and God (Allah), as well as trust among human beings. In addition, accountability is also defined as the reflection of solemn works of mosque management shown through physical evidence to the jama'at (congregations)

Keywords: accounting, accountability, mosque, phenomenology

Abstract: The growing rate of trade brings about improvement in the payment system from the trade by barter system era to the unit of weight system of payment, coins and notes to the present electronic payment system. As a result of high cost of cash management among others the government through the Central Bank of Nigeria, implement the cashless policy for the betterment of the economy, but the question remains; do we have the e-payment infrastructure for the efficiency of cashless society?The study aim to access e-payment infrastructure towards an efficient cashless policy in Nigeria. Two hundred and fifty (250) questionnaires were distributed to bank customers and two hundred and twenty nine (nine) where returned, tables and percentages where used to make analyses while chi-square statistical method was used to test the hypothesis. It was concluded that effective e-payment infrastructure is an essential tool to achieve an efficient cashless policy in Nigeria. More PoSterminals should be deployed; ATM should properly be managed while government agencies should ensure efficient telecommunication service delivery.

Keywords: cashless policy, e-payment, e-payment infrastructure, Point-of-Sale terminals