THE IMPACT OF EMPLOYEE COMMITMENT ON ORGANIZATIONAL EFFECTIVENESS IN NIGERIA BANKING INDUSTRY

CHAPTER ONE: 

INTRODUCTION

1. Background of the Study                

Employee is a paid worker in an organization under certain terms and conditions of service. Based on contractual obligation, the employee is expected to demonstrate his/her willingness to give time, energy and work hard to receive pay. The point of emphasis is that to what extent employee commitment enhances organizational effectiveness in banking industry. Reichers (1985) remarked that no organization can perform at its peak level unless each employee is committed towards the organization’s goal and work as an effective member of the team. Commitment is a process of identification with the goals of an organization.         

An organization is effective when set goals are achieved. Drucker (1977) explained that effectiveness is the extent to which the desired result is realized. It is possible to improve the organizational effectiveness through operational procedures, which are always mediated by the interactions of employees. Thus, the organization can never escape employees’ commitment. The fact is that organizational effectiveness is critical to the success of any business. In order to achieve increased and sustainable business results, organizations need to develop a strategy and engage employees usefully. The same is applicable to organizations that render banking services such as Commercial, Investment, Merchant, Mortgage banks and so forth.

Bank is an organization that provides various financial services of keeping or lending money to customers. Kock and Macdonald (2003:6) emphasized that “The average consumer needs a checking account, ATM services, small savings account, some brokerage services, an auto loan, insurance, and a home mortgage. Almost every financial firm can offer most of these services and the competition is fierce. Banks are finding it difficult to compete in the market for these products because the intense competition is driving the price for services to the bare minimum.” In view of intense competition and high technological development in the banking industry, employee commitment to achieve bank organizational goals is paramount.

To have impact on performance management, it is important to understand employees’ perception of effective management, since the process requires high involvement of employees’ commitment. Banks’ ability to perform efficiently means to obtain accurate information concerning its customers’ financial prospects, write effective contracts and to enforce them. This depends in part on the property rights, legal, regulatory, and contracting environments in which banks operate. Such an environment includes accounting practices, chartering rules, government regulations, and the market conditions. Differences in these features across political jurisdictions can lead to differences in the efficiency of banks across jurisdictions (Demirgüç-Kunt, Kane, and Laeven, 2007).

Bank business requires serious minded employees who are fully committed with honesty, loyalty and faithfulness to work towards the achievement of organizational set objectives/goals.  Sometimes, there are cases of customers being robbed after withdrawal of cash from bank. Disgruntled employees might give information to robbers to rob customers who may withdraw huge amount of cash. This may be rare cases; however occurrence of situations like this can damage the image of the particular bank. No committed bank employee can betray its customer. Besides, employee commitment to support the banking activities will also avoid shady deals that can cause bank distress. Therefore, employee commitment to bank organization is important if the bank will make headway among competitors. Hence, the researcher examines the extent of employee commitment and effectiveness of bank organizations in Nigeria. Sometimes the operating efficiency of a commercial bank is self-advertising based on attention given to customers and other enterprising aspects of bank services.        

Some banks commenced operations as a private limited liability company. During the commencement period of operation, there is no seat for customers to sit and wait like that of Diamond bank back in March 1991. That is, customers were attended to as soon as possible. But is there still that kind of quick attention giving to customers with fewer queues in present days? Employee commitment means different approaches to different people, which depends on the type of organization. Some talk about affective, normative and continuance commitments while others concerned with internalization, identification and compliance commitments. It all depends on the organization policies and objectives based on which employees are motivated with sense of direction to work hard to job expectation. George and Jones (1996:85) remarked that “Committed employees give a big contribution to organizations because they perform and behave on achieving organization’s goals.

Furthermore, workers who are committed to their organization are happy to be members of it, believe in and feel good about the organization and what it stands for, and intend to do what is good for the organization.” Besides, employee commitment reduces withdrawal behaviour, such as lateness, absenteeism and enhances organizational performance. Lo et. al. (2009) noted that employees with sense of commitment are less likely to engage in withdrawal behaviour and more willing to accept change. Thus, employees who maintained high level of commitment have job satisfaction and self-fulfillment.

1. Statement of the Problem                                                                                          

It is not clear if bank employees are fully committed to organizational success or to enhance personal affluence. Does it mean that some key officials are somehow insensitive to avert financial risks by carrying out bank operations with little or no caution to maintain effective internal control? If this is true, does it mean money laundering activities and other similar organized financial crimes occur as a result of employee inefficiency or lack of commitment? Is this situation responsible for setback on employee job performance and lack of strict adherence to bank regulating laws?

It is based on this puzzled situation that this study intends to examine the attitude of managers, financial rewards, personal ambitions and supervision as possible challenges against employee commitment in banking industry.  According to Madigan, Norton and Testa (1999:03), committed employees would work diligently, conscientiously, provide value, promote the organization’s services or products and seek continuous improvement. In return, they expect a work environment that fosters growth and empowerment, allows for a better balance of personal and work life, provides the necessary resources to satisfy the needs of customers and provides for their education and training as well as that of their co-workers. The challenges of employee commitment can cause bank distress. Ajayi and Ojo (1981) remarked that 21 out of the 25 indigenous banks that were established collapsed in quick succession due to bad management, inadequate capital, inexperienced personnel, excessive branch expansion, lack of banking regulation and unfair competition from foreign banks. Others included outright fraud, lack of acceptable prudential guideline and lack of right banking orientation among the operators. Most of the bank failures were resolved mainly. . .

1. Purpose of the Study                               

The prime objective of this study is to assess the impact of employee commitment on organizational effectiveness in Nigeria banking industry. This includes, among other things, the behavioural pattern that is equitable for effective banking organization; the impact of employee commitment on organizational effectiveness in banks; and the influence of human resource practices on the employees’ behaviour in the banking system. Hence, the researcher carried out a survey of selected banks in Yenagoa metropolis to collect usable data to analyze the compounding issues surrounding employee commitment in the banking industry.

To provide empirical evidence from the selected banks, the following specific objectives serve as the focus of this study: To determine how the behavioural pattern is equitable for effective banking system in Nigeria.

PROBLEMS AND PROSPECTS OF CORPORATE SOCIAL RESPONSIBILITY OF NIGERIAN MANUFACTURING INDUSTRY.

CHAPTER ONE

INTRODUCTION

1.1       BACKGROUND TO THE STUDY

            Academics and practitioners have been striving to establish and agreed upon definitions of the concept of corporate social responsibility for over 30 years. Davis (1960) suggested that social responsibility refers to businesses’ “decisions and actions taken for reasons at least partially beyond the firm’s direct economic or technical interest.”

Eells and Walton (1961) also argued that corporate social responsibility refers to the “problems that arise when corporate enterprise casts its shadow on the social scene, and the ethical principles that ought to govern the relationship between the corporation and the society” (p.5).

            In today’s dynamic business environment, corporate organisations are faced with the needs to impact positively on the host communities, by taking upon themselves certain responsibilities in order to increase their societal and environment influence. Organisations also included social and environmental concerns in business operations rather than focusing on profit making only. Organisations have developed a variety of strategies for dealing with this intersection of societal needs, the natural environment, and corresponding business imperatives with respect to how deeply and how well they are integrating social responsibility approaches into both strategy and daily operations worldwide.

            Many organisations such as banks and some manufacturing companies in Nigeria are driven by the need to make more and more profits and that is the sole aim of every business. In a bid to meet this target, some companies do not adequately respond to the needs of host communities, employees’ welfare (cheap labour often preferred), environmental protection and community development. Research has shown that corporate social responsibility can increase profitability, sustainability, integrity and reputation of any business that includes it in its policy.

            Nkanga (2007) posited that corporate social responsibility involves the commitment shown by companies to contribute to the economic development of a local community and the society at large. The adoption of corporate social responsibility policy should not be driven or motivated by increased profit. Rather, giving back to the society that gave to the business first should be the motivating factor. It is a common practice by Nigerian organisations to put as one of their mission statements the provision of corporate social responsibility. The organisations must have realised that stating corporate social responsibility as one of their mission statements hold special appeal to the stakeholders. Hence, there is an increasing awareness and recognition accorded corporate social responsibility by corporations.

            Some critics according to Carpenter, et al. (2010) have argued that corporate social responsibility as implemented by some organisations is mere facade. It is widely believed by many that corporate social responsibility efforts are mere campaigns by organisations to promote corporate brands. Many Nigerians are ignorant of corporate social responsibility; hence, whenever an organisation does something ‘supposedly big’ for the society, such a company and its management are eulogized for being caring and philanthropic.Manufacturing companies in Nigeria are expected to manage the impacts of their operations by adopting corporate social responsibility (corporate social responsibility) programme.  Onwuegbuchi (2009) in his studies on corporate social responsibility among manufacturing firms reported that most manufacturing companies in Nigeria embarked on corporate social responsibility programme for the purpose philanthropic gesture and for government and public appraisal. He further stated that some manufacturing companies applied environmental and labour standards that suit them to satisfy basic requirements of the laws of the country.

            The Nigerian government should ensure that manufacturing companies’ corporate social responsibility policy entails self-regulation, adherence to rules and regulations, ethical standards, environmental responsibility and sustainability, consumers’ satisfaction, employee welfare, communities and stakeholders benefits.

1.2       STATEMENT OF THE PROBLEM Despite the huge attention recently given to corporate social responsibility (CSR) in Nigeria, an area of concern still remain organisations in the manufacturing sector. Most. . . .

1.3       OBJECTIVES OF THE STUDY

The broad objective of this study is to examine the problems and prospects of corporate social responsibility in the Nigerian manufacturing industry. Specifically, the study is designed to:

1. Investigate how corporate social responsibility (corporate social responsibility) influences organisational reputation in the Nigerian manufacturing industry. . . .

ISOLATION AND IDENTIFICATION OF FUNGI ASSOCIATED WITH SOYA BEANS (Glycine max) CAKE IN IREE AND ITS ENVIRON

CHAPTER ONE

INTRODUCTION

Foods are excellent sources of nutrients and hence excellent environments for the growth of microorganisms. Microbial growth is controlled by factors related to the food itself (intrinsic factors) and also to the environment where the food is being stored (extrinsic factors). Food composition is a critical intrinsic factor that influences microbial growth. If a food consists primarily of carbohydrates, spoilage does not result in major odours (Adegoke et al., 2002).

Food products are a rich nutrient source that can attract both bacterial and fungal colonizers (Pitt et al., 2009.) As such, the food product can be regarded as an ecological resource. In some cases, colonization with a number of food-borne microorganisms is beneficial with respect to nutritional value and prolonged storage of the food product, which is known as food fermentation. After successful colonization of the product, its nutritional properties are altered (Dijksterhuis and Samson, 2006).When the nutritional value, structure, and taste of the product are negatively influenced, this colonization is then called food spoilage. It can be accompanied by the production of toxic secondary metabolites which may result in serious medical problems (Dijksterhuis et al., 2007). Food spoilage is a major threat for our food stock and is responsible for enormous losses (Pitt et al., 2009).

Soya beans is common legume in northern Nigeria. It is an indigenous tropical legume which serves as a dietary protein sources for a large number of people especially children (Aletor and Ojelabi, 2007). People who follow a vegetarian diet use soya beans to replace meat as a meat- analogue recipes in the form of soya flour, soya protein concentrate, and soya protein isolate. Soya ingredients are the most commonly used in meat analogues

because of their characteristic functional properties, such as water-holding, gelling, fat- absorbing, and emulsifying capacities. Soya flour is the least-processed of soybean protein products. In the market, there are several types of flours available such as full-fat, defatted, toasted flour, etc. (Geerts et al., 2018; Goot et al., 2016). Soya bean is an excellent source of protein (35-40%). The soya bean seed is the richest in food value of all plant foods consumed in the world (Kure et al., 1998). It is used in the production of bread as composite flour (Dhingra et al., 2002). Soya bean is used by leading infant food manufacturers in the country because of its high nutritional value. Soya bean is also processed into flour and its oil is used in local paint, cosmetics and soap making industries (Basman et al., 2003). Soya bean is consumed in Nigeria as soya milk, the cake is used for livestock feeding and the flour is added to corn pudding as food for infant and children. Soya bean is a widely used, inexpensive and nutritional source of dietary protein (Basman et al., 2003). Soya beans promote good health and are very rich in protein, giving them nutritional values. Some people can drink them in milk alternatives, take them in the form of supplements, consume them as cake as in Wara. Oil may also be industrially extracted from soya beans and used as an economically friendly fuel, as well as engine lubricants (Geerts et al., 2018). Soya beans is a complete protein. This means that it contains all nine essential amino acids. It is an important source of protein for many people especially those who follow a vegan or vegetarian diet. According to the United States Department of Agriculture (USDA), 100 g of cooked soya beans without salt contains; 141 kilocalorie, 12.35 g of protein, 6.4 g of fat, 11.05 g of carbohydrate and 4.2g of fiber. Soya beans are low in saturated fat and high in protein, vitamin C, and folate. They are also good sources of calcium, potassium and thiamine (Geerts et al., 2018).

Wara is an unfermented soybean product (also known as soybean curd). It is a soft-

cheese -like food produced by curding fresh hot soy milk with either a salt or an acid (Egbo, 2012). Wara also known as Tofu is an important dietary snack food throughout Asia. It is the most important and popular food product from soybean in different part of the country. It is also gaining an increasing popularity in Western countries. Wara was developed some 2000 years ago and has become the world’s most popular soy food product due to its high protein (Egbo, 2012).

Food preservation techniques make the food product a difficult environment to colonize, although it is a rich medium. Only fungi (Adeleke et al., 2000) that can survive certain adverse conditions including high osmolarity and heat can successfully spoil processed food. Dijksterhuis and Samson (2006) provide overviews on the taxonomic description and specificity of food spoilage fungi, Dijksterhuis et al (2007) highlight numerous aspects of the relation between food and fungi including spoilage and fermentation.

The presence of microorganisms in food has always been attributed to contamination through water, soil, processing equipment, contact surfaces and the food handlers (Dashiell et al., 1990). Improper handling of food is responsible for most cases of food borne diseases and cross contamination (Akeem et al., 2001). Pathogenic microorganisms are microorganisms capable of causing disease, although they represent only a small part in the total microbial world; they receive much attention because they represent a threat to the human or animal health and to agriculture (Gesinde et al., 2008). Pathogenic microorganisms can cause disease of plague dimensions with serious economic and environmental consequences (Farinde et al., 2010). Pathogenicity represents a form of versatility and specialization that enables certain microorganisms to replicate within a specific host (infectivity) and such hosts show a sign of disease or eventually die (Ikeh et al., 2001). The outcome of the infection is dependent on the properties (virulence, invasiveness, toxicity or allergic effects) of the organism but also upon the host’s immune

status (Ikeh et al., 2001). Pathogens fall into two basic types: primary pathogens that cause disease among at least a portion of normal individuals and opportunistic pathogens that cause disease only in individuals who are compromised in either their innate or humoral immune defences (Ash, 2001).

Statement of problem

Soya bean cake (Wara) is a staple food of great nutritional value and pleasant taste commonly found in different part of Nigeria. It is one of the delicacies particularly among poor people including students of higher institutions. Its high protein level has made it so irresistible as an alternative source of plant protein. However, the processing and storage conditions influence the presence or absence of spoilage organism in the soya beans cake where they multiply and cause undesired effects and infections of economic importance..

Justification

Presence of fungi in beans cake in a number exceeding the standard is a threat to the health of the consumer. Little attention is given to the presence of microorganisms in this product. Hence, this study to determine the fungi associated with soya beans cake and provides information on its needs to be critically monitored to avoid transmission of infection to consumers.

Aim and objectives

Assessing Causes, Effects and Control of Brown Envelope Syndrome among Nigerian Journalists

(A study of Osun State Correspondents)

Chapter One

1. Introduction

1.1.      Background to the Study

Journalism is a profession of great mind. Anaeto and Onabajo (2007) said “it is the art of collecting, producing and presenting information and events through the media: radio, television, newspaper, magazine, internet or any appropriate medium, using words, pictures, and graphics”. The hub of this definition is that people need to be informed about happenings within and outside their immediate environment. It beholds on journalist to look around and stick to what many scholars refer to as watchdog role of the journalist. This ideal of watching with keen interest, is not only on the government for making them accountable, it is equally expected of a journalist to monitor public figures and public officials. Leslie (2004) said some individuals, particularly those who hold high-profile political positions or who make their living in show business or sports, are often designated public figures.

For the journalist to carry out this great task successfully, it requires his intellectual quality, he must be widely read, good news judgment, knowing something about everything .These and many other journalistic dexterity will allow the journalist to triumph and discharge his duty efficiently at various identifiable stages in journalism. Indeed, those stages require serious approaches. It all started with news gathering, an area regarded as very sensitive and delicate i.e. identification of sources of news, how to get information from identified sources, safety of such information, the volunteer(newsmaker) of such information and the journalist who hold the information, time frame expected of a news, etc.

Information processing stage is equally an important stage that should not be toyed with rather must be taken with all sense of seriousness. This stage involves ownership, gate-keeping, individual interest, national interest and what is called ‘conflict of interest’, the medium and equipments or technology involve. And the third and last stage is information dissemination stage where information is meant to be delivered to the general public. Such information must be structured and patterned in such a way that it will fulfill the goal of media organization of keeping society inform and at the same time meet the need of the society who is eagerly waiting for the information to gratify their needs.

Journalists consider themselves an important part of contemporary society. Most subscribe to the belief that a well-informed population is of primary importance to the effective functioning of a democracy and to the growth and development of the individuals who support that democracy. Nigerians and other people of the world need news and other sorts of information to make intellectual decisions about their own lives and about the individuals selected to run their government. Rachel Khan (2005) observed that “Journalists should bear in mind that inaccurate or untruth information violates the viewer’s right to truthful information and undermines his freedom. This is because he would not have the tools to make an informed decision; or worse, he would be making a decision based on false information”. The responsibility to provide this news and information invests journalists with considerable power and influence and, for some, great financial rewards.

Meanwhile, journalism all over the world has guidelines and principles upon which to be practiced. Such guidelines cover every stage of journalism practices and an ideal journalist is expected to uphold and abide by that principles. The rules is not meant to lock the mouth of journalists and restrict their actions but it is formulated to keep men of ‘fourth estate of the realm’ in the right path and make them socially responsible to the society who they are really meant to serve in the first place. The guiding principle is known as media ethics in journalism parlance. Muhammad (2003) said “Ethics involves what is right, equitable, fair, just, dutiful and or responsible. Ethical practice is as important in media as it is in any other walk of life with high levels of public impact”. It will not only allow all mass media messages as projected by Uyo (1987:9) to be clean, clear, concise, fair, balance and objective but also reflect and uphold the integrity of practitioners. These mass media messages most especially in print i.e. news reports, features, editorials, columns, letters to the editors, reviews, personality profiles, cartoons, and advertisement etc can easily be manipulated and doctored to serve a specific purpose of the person behind such cruel act.

As important as this ethical rule is to media content(mass media messages) and practitioners, quite number of journalists still engage in some acts that are capable of putting the practice of journalism into disrepute. They keep on toeing the path that will put the profession in total dilemma. Prominent and most disturbing ethical dilemma is what is popularly known as ‘brown envelope’ in media parlance.

Basically, to run media stations require a lot of money, not only for the day to day running of the organization but also to keep the organization alert and above any internal and external threats. The most challenging threat that has been roaring it ugly head in all media organizations is ‘money palaver’. Many media house who fail to make effective and efficient planning as regard the power of money have gone down the memorable lane because of their; inability to pay staff salary, stick to outdated printing machine, low quality newsprint, low or no advertisement, low circulation figure, state of total collapse of most of the organisation physical structures and equipments etc. But those who are enjoying the patronage up till date are majorly relying on their owners and advertisers or through back doors, for their survival (who knows?).

The result of this ugly trend can be perceived in two major ways. One on the part of the workers most especially, journalist who will either be moving from one media station to the other or lead to journalist that will at all cost trying to make ends-meet as a result of organizational financial problem. Such unethical act of the journalist will definitely affect drastically his sense of news judgment. Specifically, this journalistic attitude however could be linked to four types of journalists identified by Akinfeleye (2012) Cocktail Journalism, Journalism of Next of kin or Naira and kobo Journalism, and Journalism of General Order. In the other hand, media house which cannot withstand the challenge posed by the money continue to worship various elements of the money for their survival. Explicitly, many stations are desperate to continue enjoying the patronage of the public thereby result to all forms of unethical acts that will make them relevant and move along with societal trend

This action of men of fourth estate of the realm is indeed barbaric and breach of public trust. They are expected to be a watch word and lead the society to the right path but reverse is the case as many of them are now worship money rather than serving public interest. Those that supposed to be accountable refuse to give account to the masses; they (public officials) have seen their present position as a unique opportunity to amass wealth and continue to oppress the oppressed without any public outcry. This kind of society is made possible as a result of the type of journalists in such milieu. The mouth of the journalists must have been padlocked or their hands and legs must have been chained by the government or individuals with money.

That is why most of mass media messages nowadays are full of concocted stories and many of such editorials have lost taste thereby instead of giving the media station good image in the eyes of the public but now become laughing stock. This is as a result of public perception and understanding of most media organizations. People believe, they are bias, compromise and serving specific political interest. Therefore, whatever comes out of their stations could not be regarded as true picture of the situation. Quoting Adelegan (2008) on, Nigeria union of journalists’ code of conduct said: “it is primary duty of a journalist to tell the truth. It is professional misconduct if during the course of his duty, a journalist corruptly demands and, or receives monetary or material reward in consideration for publishing or suppressing his news or views’’. 

To support this ethical position of men of pen profession is, declaration of principles on the conduct of journalists-Adopted by the Second World Congress of the International Federation of Journalists at Bordeaux on 25-28 April 1954 and amended by the 18th IFJ World Congress in Helsingör on 2-6 June 1986. Among many other things that were stated in the declaration is that, the journalist shall regard as grave professional offences the following:

1. Plagiarism.
2. Malicious misrepresentation.
3. Calumny, slander, libel, unfounded accusations.
4. Acceptance of a bribe in any form in consideration of either publication or suppression. 

In his submission, Harper (2002) said “media practitioners have a responsibility to eliminate any conflict of interest-that is, private interests that might conflict with their inability to do their job. Such conflicts can include business relationships, gifts, money, political activism, or stock ownership. He further said:‘‘most media codes of ethics pay particular attention to the practice of accepting gifts. The SPJ code notes: Gifts, favours, free travel, special treatment, or privileges can compromise the integrity of journalists and their employees. Nothing of value should be accepted” (emphasis is mine). 

This study however will look inward and outward in order to deeply understand the conceptual, empirical and theoretical frameworks of this study. Looking at all these areas will allow the researcher to understand this research work the more, and at the same time, provide resourceful information to many practitioners on their day to day activities. It will equally serve as a reference point to lovers of academic work.

1.2       Statement of the Problem            

This act of collecting brown envelope or gifts is now order of the day and indeed affecting journalism profession, as mass media messages even ‘editorial’ which was formally regarded formal and serious are now being concocted, make-up, fashioned, dented and subjected in order to favour or serve the interest of certain set of people. Besides, Objectivity, as enshrined in the ethics of journalism has been thrown into the wind while money, gifts, individuals, organisations or government are now in the centre stage of dictating the content and context of our newspapers in Nigeria.

This and many other things were adequately examined and studied in this research work.

1.3       Objectives of the Study

The following are the objectives which this study intends to achieve:

1. To ascertain whether Osun State Correspondents Chapel, Osogbo house is objective in its reportage.
2. To determine whether Osun State journalists perceive brown envelope inducement as unethical to their profession and reputation.

Assessing of Brown Envelope Syndrome of the Image and Contents of Broadcasting Station

 (A study of Channel TV, Lagos State)

Chapter One

1. Introduction

1.1       Background to the Study

As important as information and technological resources are to media organisations, so are human resources. Human resource is an important element that forms the crux of the subject matter of brown envelope syndrome (BES). This is very important to our understanding of the major issues that have cropped up in the controversy surrounding where the media syndrome called brown envelope in the Nigerian media context comes from. BES is a result of the gap in human ethical reasoning. It is also a reflection of the moral decadence in the genera system called Nigeria.

 In this regard, we must not see BES as just another media coinage or concept but a problem that arises in the first place because of institutional challenges in the management of peoples’ collective resources, human capital deficiency, and misplaced/misappropriated priorities. These are the core issues this paper hopes to address.

According to Joseph Pulitzer as cited by Charles (2017), the journalist “is there to watch over the safety and welfare of the people who trust him” (p. 225). In the Nigerian perspective, the media, to put it succinctly, have done well in pursuing this noble goal. It is therefore no longer debatable that the media are largely responsible for the actualization of Nigerian’s independence, curbing of neo-colonial excesses and the propagation of the ideals of a modern nation-state.

According to Oseni (2019), the media have been consistent in exposing corrupt and inept leadership, socio-political perfidy and primitive dictatorship. In as much as workers of all sorts are required to perform; financial objectives predominate and there seems to be little scope for ethics, irrespective of the worker’s own personal motives and desires.

Journalism is an industry, a major player in the profit-seeking market economy while journalists are merely workers in that industry, driven by the need to make a living. In another perspective, journalism is a profession, a vocation founded on ethical principles which direct and regulate the conduct of the practitioner. In such an industry, media workers are like any others. They are concerned about getting jobs, job security, working conditions, future prospects, and personal satisfaction. These are predisposing factors that could constitute a reason to engage in BES or other forms of compromise.

Nigerian journalists are members of the society with basic needs and challenges. Some of these needs include the need for security, comfort, and the need to build self-esteem. They also face challenges which are both political and largely economical. In essence, the average Nigerian journalist is struggling to meet his/her or basic needs in an extended family structure with its gargantuan demands on his/her lean wages. The journalist is also struggling to balance the numerous contending political forces and avoid being the battle ground in a game of deceit he/she does not understand. Nevertheless, these challenges should not be a basis for the journalist not to take his/her responsibility to the public unserious.

Adewale (2008), in his “The Rot in Nigerian Journalism Is Much Deeper Than We Thought” cited a controversial statement by Graham Greene to back up his position thus: “A petty reason perhaps why novelists more and more try to keep a distance from journalists is that novelists are trying to write the truth and journalists are trying to write fiction” (http://www.ngex.com/news/public/article.php?. This embarrassing irony aptly describes the state of Nigerian journalism and journalists in particular.

From previous researches, it has been discovered that the age old trust in Nigerian journalism has been seriously eroded. Adewale (2008) explained this fact especially in the clumsy relationship between the former  national soccer coach of Nigeria, Shaibu Amodu and the Vanguard sports editor and columnist, Onochie Anibeze. According to him, “the relationship was such that Amodu once asked one of his players to disembark from the team bus so he could accommodate Mr. Anibeze. The reward for Mr. Amodu is unquantifiable and these symbiotic relationships have worked well for this journalist at the expense of their profession and the Nigerian masses”. Adewale (2008) further noted that the situation is such that we now have journalists who cover a minister for a year or two, only to report nothing but glowing attributes about that minister and the ministry under him.

In the end, the public is isolated from the true picture of happenings in such a ministry (http://www.ngex.com/news/public/article.php? Article10=961 ). The only benefactor is usually the journalist who goes home with all forms of brown envelopes, junkets, free trips and etc. to the detriment of media professionalism and ethical standards.

Media practice is, no doubt, a noble profession. Despite its loftiness and attendant tools of checks and balances namely, Code of Conduct, media practice in Nigeria is faced with the challenge of unwholesome practices by some bad eggs. This ugly development often described as brown envelope syndrome or chequebook journalism constitute a big drawback to the media labelled as the fourth estate of the realm.

With the aid of a theoretical framework, this paper highlights the cost of a bribe in Nigerian media practice from the perspectives of media ethics. It shall as well, posit possible recommendations for a vibrant media practice in Nigeria.

1.2       Statement of the Problem    

This act of collecting brown envelope or gifts is now order of the day and indeed affecting journalism profession, as mass media messages even ‘editorial’ which was formally regarded formal and serious are now being concocted, make-up, fashioned, dented and subjected in order to favour or serve the interest of certain set of people. Besides, Objectivity, as enshrined in the ethics of journalism has been thrown into the wind while money, gifts, individuals, organisations or government are now in the centre stage of dictating the content and information been disseminate on Channel Television, Lagos State.

1.3       Objectives of the Study

1. To ascertain whether journalists perceive as brown envelope syndrome in journalism practice in Nigeria.

IMPACT ASSESSMENT OF THE NEW MEDIA ON THE EFFECTIVENESS OF THE NEWS AGENCY OF NIGERIA

CHAPTER ONE

Introduction

1.1       Background to the Study

Marshall McLuhan, popularized the concept of the “global village” in his books The Gutenberg Galaxy: The Making of Typographic Man (1962) and Understanding Media (1964), in these books, McLuhan describes how the globe has been contracted into a village by electric technology and predicted the Internet as an “extension of consciousness”.

The term global village can be used to describe the Internet and World Wide Web. Physical distance is less of a hindrance to the real-time communicative activities of people through the aid of the Internet, thus, social spheres have been greatly expanded by the openness of the web and the ease at which people can search for online communities and interact with others who share the same interests and concerns.

The Internet have brought about the explosion of the new media and a hyper utilization as well as improvement to the old media thus upgrading them to the status of the new media, the internet also has brought about the social media which now pose a great threat to conventional sources of news, thus questioning the relevance of long existing sources of news.

News agencies provide copy for news media with few reporters which appear to have increased the importance of wire services in the daily news cycle. This stance has been corroborated by Frijters and Velamuri (2009) note that due to economic cut backs, most major newspapers rely on “recycled news” from wire services or from a decreasing number of mobile journalists.

The news agencies also called wire services, news syndicates or news services have been a silent source of news to the public over the years as they have been serving as a reliable source of news to news media for various reasons over time.

However, the use of the Internet and subsequently social media has become widely recognized by people of all ages and geographical dispensations (Kim, 2010). Groneberg,(2007) expresses that people rely on the Internet as a source of information, and as a way of getting fast information.

In this era of new media explosion and social media saturated society, the question now is, do the news media actually have much need for the news agencies now if compared to the past?

Wikipedia (2014) defines news agency as an organization of journalists established to supply news reports to news organizations: newspapers, magazines, and radio and television broadcasters which subscribes to it. Such an agency may also be referred to as a wire service, news syndicate or news service, press agency or press association. It is an organization that gathers, writes, and distributes news from around a nation or the world to newspapers, periodicals, radio and television broadcasters, government agencies, and other users. It does not generally publish news for direct consumption of the readers or listeners or viewers, but supplies news to its subscribers, who, by sharing costs, obtain services they could not otherwise afford. All the mass media depend upon the agencies for the bulk of the news, even including those few that have extensive news-gathering resources of their own (Encyclopedia Britannica, 2014).

The origin of news agencies can be traced to Boston, Massachusetts’ coffeehouse in the early 1800s. There the tavern owner kept a ‘news ledger’ in which he wrote report from merchants who arrived from England in their ships.

The oldest news agency is Agence France-Presse (AFP) originally called Agence Havas founded in 1835 by a Parisian translator and advertising agent, Charles-Louis Havas. Two of his employees, Paul Julius Reuter and Bernhard Wolff, later set up rival news agencies in London and Berlin respectively. In 1853, Guglielmo Stefani founded the Agenzia Stefaniin Turin, that became the most important agency in the Kingdom of Italy, and took international relevance with Manlio Morgagni.

In order to reduce overhead and develope the lucrative advertising side of the business, Havas’s sons, who had succeeded him in 1852, signed agreements with Reuter and Wolff, giving each news agency an exclusive reporting zone in different parts of Europe.

News agencies are corporations that sell news (e.g. Press Association,Thomson Reuters, and AHN). Other agencies work cooperatively with large media companies, generating their news centrally and sharing local news stories the major news agencies may chose to pick up and redistribute (i.e. AP, Agence France-Presse (AFP) or American Press Agency (APA)). Commercial newswire services charge businesses to distribute their news. Government controlled news agencies were also founded in China (Xinhua), Canada, Russia (ITAR-TASS) and other countries also had their government-funded news agencies which also utilized information from other agencies.

The major news agencies generally prepare news stories and feature articles that can be used by other news organizations with little or no modification, and then sell them to other news organizations by subscription. They provide these articles in bulk electronically through wire service (originally they used telegraphy; today they frequently use the Internet). Corporations, individuals, analysts and intelligence agencies may also subscribe.

New media in the present age of information revolution are the modern, technologically sophisticated devices which are dependent on the Internet to function as platforms for media contents of various forms.

Some scholars have made various attempts to define the concept “new media”, but have found it difficult to pin the concept to a single definition because of the dynamic nature of the concept that keeps changing from time to time. It has been in use since 1960s and has kept changing and expanding according to the dictates of technology (McQuail 2010, p.39).

Some authorities have, however, provided some definitions to justify the concept. Odofin (2011, p.80) sees the new media as encompassing all modern media and communication devices that have startlingly redefined, reshaped and restated geographical distances in innovative ways.

According to him, they include cyber culture, ranging from blogging to social networks to online multiplayer gaming. On his part, Salau (2012, p.25) citing Otufodunrin states that new media are “interactive forms of communication that use the Internet”. Included as examples are podcasts, Rich Site Summary (RSS) leads, social networks, text messaging, blogs, Wikis, virtual words etc. McQuail (2010, p.136) opines that the new media are Internet-based activities especially the public use of the Internet which includes online news, advertising, broadcasting, the World Wide Web, forums etc.

New media are web- based /digital computer technologies which can be interactive and networkable such as; the internet, website and so on. According to Croteau and Hoynes (2003), new media, “radically break the connection between physical place and social place, making physical location much less significant for our social relationships”.

Moreover, Logan (2010) sees new media as a term that will in general refer to those digital media that are interactive, incorporate two-way communication, and involve some form of computing as opposed to “old media” such as the telephone, radio, and TV.

With the coming of the new media, people who have long been on the receiving end of one-way mass communication are now increasingly likely to become producers and transmitters. From Indymedia to the future BBC, the distinction between information producers and consumers will become increasingly difficult to draw (Creeber and Martin, 2009; Bennett, 2003).

New media are extremely de-centralized, require very low investment, provide greater interactivity and public participation and are much more difficult to control (Banerjee, 2008).

Going by the above postulation, it is evident that since new media require low investment with regards to its news generation potential, the continued relevance of the news sources will be a subject of debate, also the ways in which these news sources have been affected by the new media is also to be considered.

1.2       Statement of the Problem

News agencies have been one of the reliable news sources for media organizations ranging from print to electronic media. They have been a silent reporter who is rarely acknowledged in the actual news report by the media.

The news agencies have remained in business as they have large subscriber bases (media organizations) that pay a prescribed fee to gain access to news copy for their news reports.

New media especially social media have created new possibilities of reaching audiences as well as clients all around the world. This also means that news distribution itself has to face a new environment: Readers, listeners and viewers are not passive consumers any more but actually engage with news sources.

Despite the speed new media and  social media offers to news agencies as regard delivery of copy to their subscriber bases, it also pose a challenge of  continued relevance for the agencies, because the new media especially social media enable citizen journalist to upload news as they break online at no access cost to the media organization.

However, it is important to know that news agencies are still in business today despite this new media explosion. So, how can news agencies use the new media and social media and yet maintain their core business of selling news on a subscription basis.

It is based on the aforementioned that this research work will examine the impact of new media/social media on the effectiveness of news agencies, paying particular attention to the News Agency of Nigeria.

1.3       Objectives of the Study

With the above stated problem of the study, the following objectives would guide the execution of this research work.

1. To establish if news agencies utilize new media/ social media.
2. To know how the news agencies use the new media /social media.

EFFECT OF HATE-SPEECH BILL ON JOURNALISM PRACTICE IN NIGERIA

CHAPTER ONE

1.0       INTRODUCTION

The growing concern over the spate of violence in Nigeria has necessitated the enactment of a bill on hate speech. The International Convention on Civil and Political Rights, Article 20 (2) defines hate speech as any advocacy of national, racial or religious hatred that constitutes incitement to discrimination, hostility or violence. A new bill on hate speech is being enacted by the Nigerian Senate. The bill proposes that any person found guilty of any form of hate speech that results in the death of another shall die by hanging upon conviction. The bill though yet to be passed into law, sponsored by, Senator Aliyu Sabi Abdullahi (APC, Niger) arguably seeks the establishment of an ‘Independent National Commission for Hate Speeches’, to enforce hate speech laws across the country. The bill states: “A person who uses, publishes, presents, produces, plays, provides, distributes and/or directs the performance of any material, written and/or visual, which is threatening, abusive or insulting or involves the use of threatening, abusive or insulting words or behaviour, commits an offence…’’

In addition to the various avenues for the propagation of conflict and hate speech in the Nigerian society, the social media had in recent times taken the center stage by making conflict situations more personalized, reactive and ravaging unlike the conventional media. Social war which exists on the social media among users interpersonally had also become conspicuous; this instigates conflict in the larger society given the peculiarity of the social media at allowing the spread of very provocative information. Indeed, the prevalence of hate speech and foul language on social media bordering on political and national issues, and even social interaction in Nigeria, especially on Facebook, Twitter, YouTube and LinkedIn is becoming worrisome. Apart from undermining the ethics of journalism profession, it contributes in bringing disaffection among tribes, political class, and religion or even among friends in the society (Alakali, Faga & Mbursa, 2016).

With the increased diffusion and use of the social media among people, it is common these days to find hateful messages that attack a person or a group because of their nationality, race, religion or gender on the internet (Taylor, Peignon & Chen, 2018). This is because the social media profoundly allows for free flow and exchange of all kinds of information. Although the terms of service for the social media platforms sometimes provide guidelines on what content is prohibited, which should shape the automatic filtering tools of these platforms (Taylor, Peignon & Chen, 2018), users continually abuse the platform. Hence, one of the major bane of the social media has been the propagation of hate speech and abusive content which creates an uncomfortable atmosphere that can inflict a damaging financial and social cost on both the social network and the victims alike.

The Nigerian public can rightly be said to have been inundated with negative media usage such as character assassination and negative political campaigns given that citizens become content providers and journalists or editors are not just supporters of particular political beliefs but play a fundamental part in setting national agendas which leaves much to be desired (Alakali, Faga & Mbursa, 2016). In Nigeria, the quest for power and the desire of politicians to win elections at all cost is overwhelmingly strong and these issues converge in shaping societal discourse by ardent users of the mainstream media and social media networks, thereby influencing the exchange of abusive content on the social media. This work therefore looks at the connection between the social media, conflict and hate speech to determine the extent to which the social media either enhances or fuels the display and propagation of hate speech and conflict.

1. BACKGROUND TO THE STUDY

From primordial epoch, man has instinctively displayed a desire to express himself in matters that concern his general welfare and the development of the society he finds himself. Although, as societies develop, this inner most desire has more often been met with repressive tendencies in form of draconian laws, banishment, physical torture, etc. meted out by the ruling class, man, nevertheless has remained dauntless in the quest for free expression of thoughts (Layefa and Johnson, 2016). Oloyede (2008) opined that regardless of the peerless usefulness and unique indispensability of free speech and press freedom to the proper and progressive functioning of society, many repressive and fascist governments and numerous nefarious groups and institutions and diabolical individuals still assault the noble institutions by harassing, maltreating, victimising, terrorising, imprisoning and even murdering journalists, critical writers and social critics the world over for daring to express the dictates of their heart-felt beliefs and conscientious convictions. Indeed, in the face of ominous dangling and the lashing of the sword of repression, torture and dead, etc. against free speech and free press, man remains undaunted in the quest for same to the chagrin of opponent of free speech.

Democracy is adjudged as the most popular system of government in the world. It is popularly seen as the government of the people, by the people and for the people. As a concept, according to Obasanjo and Mabgunje (1992) cited in Ogah and Ogeyni (2014), democracy as an ideology is the philosophy of governance which sets a high premium on the basic freedom or fundamental human rights of the citizens, rule of law, the right to property, the free flow of information and the right of choice between alternative political positions. Simply put, democracy is that system of politics in which sovereignty is vested on the people rather than in a small clique or an oligarchy, where the rule of law, majority rule and constitutionalism are basic guiding principles of governance. It is in this context that Ramaswamy (2007) posited that democracy means the rule by the people as contrasted with the rule by one person or a group. He went further to say that it is the people who are both rulers and rule unlike other systems like monarchy, dictatorship or oligarchy where a distinction between the ruler and the ruled exists.

Nigeria joined the league of democratic nations in 1999. One of the cardinal points of a true democracy is freedom. The ability to be free is most expressed in one‘s capacity to express himself freely without any physical or psychological threats (by the government or otherwise). The limits of the freedom of expression can be said to have become elastic. This could be attributed to globalization which has physically removed all borders and is principally engineered by the internet. The internet has transformed the freedom of speech and expression which was previously limited to the confines of television, radio and print media etc. Today we have the social media which permits individuals or groups to sit in the comfort of their bedrooms or offices and with a click on the mouse or a tap on a screen express themselves freely to millions of other users who are not restricted by the physically defined borders and boundaries of countries or regions (Joel, 2013).

However, the freedom of expression and the press means the liberty to say what one wishes to say, subject to the consequences under the law as the case maybe; which laws must be fair, and reasonably justiciable in a constitutional democracy. Thus, the liberty or freedom of expression and the press means two broad things. These are – putting on no prior restraint on publication and the liberty of the press; this means putting no prior limit on what to publish or not to publish. There should be no prior censure of publication. Every person has the right to lay what sentiments, facts, information or publication he has before the public. To forbid this right is to destroy the freedom of expression and the press (Joel, 2013).

While still countering hate speeches in the traditional media, the emergence of new media has broadened the battlefield in combating the hate speech saga. The new media offers an ideal platform to adapt and spread various speeches and foul language easily because of its decentralised, anonymous and interactive structure. The prevalence of negative speech and foul language on social media bordering on political and national issues, and even social interaction in Nigeria, especially on Facebook, Twitter, YouTube and LinkedIn is becoming worrisome. This is because it is contributing to disaffection among tribes, political class, and religion or even among friends in the society(Alakali, Faga and Mbursa, 2017).

While some people are claiming that the intention to classify hate speech as a criminal act infringe on the rights of citizens to freedom of expression as guaranteed in the Constitution, others hold the view that, hate speech is not free speech and its criminalization would not in any way, infringe on citizens right to freedom of expression. Instead, criminalization of hate speech is more like holding citizens accountable to their freely expressed views, thereby encouraging responsibility in expression(Alakali, Faga and Mbursa, 2017). This study therefore examines the perception of Nigerians on the Hate Speech Bill and its effect on journalism practice in Nigeria.

1.2 STATEMENT OF THE PROBLEM

The freedom of the general public, anyone and everyone including the press and civil society organizations to receive and to impart ideas and information by speech, printed word, and other media is guaranteed by the Nigerian Constitution both in sections 22 and 39 of the Constitution. Section 39 of the 1999 Constitution provides as follows: ―Every person shall be entitled to freedom of expression; including freedom to hold opinions and to receive and impart ideas and information without interference.

However, since the introduction of Hate Speech Bill recently, the debate about what constitutes hate speech, particularly on social media has become the new national discuss. Critical sections of the society — the mass media, civil society, pressure groups, the academia, writers and creative/performing artistes — that may bear the main brunt of the obnoxious law have been curiously and dangerously indifferent, as only a few voices have raised the alarm. This study therefore examines the perception of Nigerians on the Hate Speech Bill and its effect on journalism practice in Nigeria.

1.3 OBJECTIVES OF THE STUDY

This study aims to achieve the following objectives:

1. To examine the level of Hate Speech Bill awareness in Nigeria journalism practice

• To determine the notion they have about the Hate Speech Bill
• To determine their views on the relationship between the Hate Speech Bill and freedom of speech
• To determine the effect of Hate Speech Bill on journalism practice in Nigeria

1.4 RESEARCH QUESTIONS

1. To what extent is the awareness of Hate Speech Bill among citizens of Nigeria

What are the notions journalists have about the Hate Speech Bill?

THE COMPARATIVE STUDY OF THE EFFECTIVENESS OF PIDGIN ENGLISH IN ADVERTISING (A CASE STUDY OF OSPOLY IREE, STUDENTS)

 

ABSTRACT

The Nigerian Pidgin English is a type of English used and understood by so many people in Nigeria regardless of ethnic, cultural, and socio- economic background. Even though some people now use it in social communication, pidgin English is not only used in places like market local community and so on, but also Nigerian secondary and tertiary institutions’ students now use pidgin English to communicate with each other. The continued use of Pidgin English in Nigeria made the number of interest of its speakers to continue to expand and this encouraged the growth of Nigerian pidgin. Therefore, this project attempts to study the role of Nigerian Pidgin English especially in Army Day Tertiary institutions, Sokoto.

CHAPTER ONE

1.0           INTRODUCTION

1.1           BACKGROUND TO THE STUDY

The Nigerian Pidgin English (Henceforth NPE, NP or Naija) has so permeated the various social strata of the Nigerian society that it is today viewed as one of the most convenient forms of communication in reaching heterogeneous target audiences. The language is extensively employed in the dissemination of information aimed at mass communication (mass mobilization/orientation). A plausible evidence of this assertion is the fact that, Nigerian Pidgin English is used in radio and television programs, as well as in drama presentation (films), entertainment and advertising of all sorts. As Mokwenye rightly puts it, the language has virtually attracted unofficial recognition from private enterprises and business outfits‖ that amply use it for the purpose of advertising and promotion of their respective business/products through both electronic and print media (Mokwenye, 2017). It has even been observed that the language Nigerian Pidgin English is used more than vernacular tongues and Standard English language (SE) in audio-visual advertising in Nigeria (Balogun, 2013).

The use of Nigerian Pidgin English in advertising messaging – like in other types of (mass) communication contexts – is aimed, at practical, functional and pragmatic goals. Balogun notes that the  language  has  a  ―rhythmic  value‖  that  gives  it  ―a  poetic form‖ and makes it very appropriate for persuasive discourses of which advertising is one (Balogun, 2013). In most political and advertising campaigns for instance, Nigerian Pidgin English (NPE) is instrumental in reaching and catching the attention of a vast number of people. The language is, in this respect, viewed as having the potential of facilitating the dissemination of advertising messages to both literate and semi/non literate consumers (Dada, 2012 & Oluwole, 2012)

          Balogun further notes that Nigerian Pidgin English (NPE) tends to capture people’s audience better than other languages. This is so as ―it is down to earth and as such, many people are motivated and carried along (Balogun, 2013). Furthermore, Nigerian Pidgin English is a very rich language which remarkably enjoys variability and can be used by virtually all categories of people, elite, illiterate, educated or uneducated to communicate.

Despite the fact that it enjoys the patronage of most people in Nigeria, Nigerian Pidgin English is a predominantly oral language as it does not enjoy a generally acceptable orthography (Ugot, Mercy.  2009). The language orthography seems to vary with respect to individual users. In effect, the language has a multiform spelling system which somehow renders its use – in written communication in general and print advertising in particular – very complex. The recent development by the Naija Languej Akademi (NLA) of a standard orthography to be used in writing NPE seems to have instead worsened the situation (Esizimetor, 2009). In view of this complex situation, advertising copywriters tend to ignore the so called standard orthography and largely borrow the English spelling system in their composition of the advertising messages. They use writing approaches (orthographies) that are principally based on modern European languages and personalized linguistic creativity techniques. These advertising copywriters equally resort to inter-sentential and tag (NPE/SE) code switching/mixing as a dominant and practical paradigm.

         Pidgin English is a language which was developed in a situation where speakers of different languages have a need to communicate but do not share a common or specific language. It is generally learned as a second language and used for communication among people who speak different languages.

Language is the most creative and unlimited instrument for communication and it helps us to understand and communicate with people of the same and different backgrounds. Having said this, we can agree that pidgin is a language of its own and not just a supplementary tongue as some people consider, since it serves as an instrument of social communication, especially in a multilingual environment.

According to Linton (2012), he stated that “the culture of a society is the way of life of its people, the collection of ideas and habits which they learn, share and transmit from generation to generation.” These cultures, ideas and habits can only be transmitted from generation to generation through language. In linguistics, every language is considered adequate to represent the communicative needs of its people and as such should not be made to suffer any biases.

Nigerian Pidgin English has brought the people of Nigeria together despite their differences in culture and language by creating a local culture and language for itself which blends ideas from different cultures. The paper equally seeks to evaluate the comparative study of the effectiveness of Pidgin English in advertising.

1.2           Statement of the Problem

As an undergraduate student of Osun State Polytechnic, Iree, I have observed that students use pidgin English in different situations as a means of communication, most especially advertising. It is very interesting to note that what actually started as an “emergency language” between the white merchants who later  turned  traders has  now become  an  elitist language  in all areas of Nigeria  spoken  among  the  Nigerian  students  especially  in tertiary institution. This research therefore, intends to examine the effectiveness of Pidgin English in advertising as well as examine the reason why Pidgin English is popular among the Nigerian students in tertiary institutions based on sociolinguistic principle.

1.3           Objectives of the Study

The main objective of this study is to examine the effectiveness of pidgin English in advertising. The specific objectives are:

1. To examine the effectiveness of pidgin English in advertising among Osun State Polytechnic Iree, students.
2. To assess the extent of its popularity and the communicative situation within which it is used.
3. To examine the factors that promote the adoption of Pidgin English among students in Osun State Polytechnic, Iree.
4. To determine the extent and frequency of usage of the Pidgin English in advertising  among Osun State Polytechnic, Iree students.
5. To determine the effect of adoption of Pidgin English in advertising among students in Osun State Polytechnic, Iree.

1.4       Research Questions

1. Does pidgin English is effective in advertising among Osun State Polytechnic Iree, students.
   1. To what extent does its popularity and the communicative situation within which it is used.
   1. What are the factors that promote the adoption of Pidgin English in advertising among students in Osun State Polytechnic, Iree?

Comparative Analysis of Brown Envelope Syndrome among Broadcast and Print Journalists in Osun State

Abstract

THE COMPARATIVE STUDY OF THE EFFECTIVENESS OF PIDGIN ENGLISH IN ADVERTISING

(A CASE STUDY OF OSPOLY IREE, STUDENTS)

 

ABSTRACT

The Nigerian Pidgin English is a type of English used and understood by so many people in Nigeria regardless of ethnic, cultural, and socio- economic background. Even though some people now use it in social communication, pidgin English is not only used in places like market local community and so on, but also Nigerian secondary and tertiary institutions’ students now use pidgin English to communicate with each other. The continued use of Pidgin English in Nigeria made the number of interest of its speakers to continue to expand and this encouraged the growth of Nigerian pidgin. Therefore, this project attempts to study the role of Nigerian Pidgin English especially in Army Day Tertiary institutions, Sokoto.

CHAPTER ONE

1.0           INTRODUCTION

1.1           BACKGROUND TO THE STUDY

The Nigerian Pidgin English (Henceforth NPE, NP or Naija) has so permeated the various social strata of the Nigerian society that it is today viewed as one of the most convenient forms of communication in reaching heterogeneous target audiences. The language is extensively employed in the dissemination of information aimed at mass communication (mass mobilization/orientation). A plausible evidence of this assertion is the fact that, Nigerian Pidgin English is used in radio and television programs, as well as in drama presentation (films), entertainment and advertising of all sorts. As Mokwenye rightly puts it, the language has virtually attracted unofficial recognition from private enterprises and business outfits‖ that amply use it for the purpose of advertising and promotion of their respective business/products through both electronic and print media (Mokwenye, 2017). It has even been observed that the language Nigerian Pidgin English is used more than vernacular tongues and Standard English language (SE) in audio-visual advertising in Nigeria (Balogun, 2013).

The use of Nigerian Pidgin English in advertising messaging – like in other types of (mass) communication contexts – is aimed, at practical, functional and pragmatic goals. Balogun notes that the  language  has  a  ―rhythmic  value‖  that  gives  it  ―a  poetic form‖ and makes it very appropriate for persuasive discourses of which advertising is one (Balogun, 2013). In most political and advertising campaigns for instance, Nigerian Pidgin English (NPE) is instrumental in reaching and catching the attention of a vast number of people. The language is, in this respect, viewed as having the potential of facilitating the dissemination of advertising messages to both literate and semi/non literate consumers (Dada, 2012 & Oluwole, 2012)

          Balogun further notes that Nigerian Pidgin English (NPE) tends to capture people’s audience better than other languages. This is so as ―it is down to earth and as such, many people are motivated and carried along (Balogun, 2013). Furthermore, Nigerian Pidgin English is a very rich language which remarkably enjoys variability and can be used by virtually all categories of people, elite, illiterate, educated or uneducated to communicate.

Despite the fact that it enjoys the patronage of most people in Nigeria, Nigerian Pidgin English is a predominantly oral language as it does not enjoy a generally acceptable orthography (Ugot, Mercy.  2009). The language orthography seems to vary with respect to individual users. In effect, the language has a multiform spelling system which somehow renders its use – in written communication in general and print advertising in particular – very complex. The recent development by the Naija Languej Akademi (NLA) of a standard orthography to be used in writing NPE seems to have instead worsened the situation (Esizimetor, 2009). In view of this complex situation, advertising copywriters tend to ignore the so called standard orthography and largely borrow the English spelling system in their composition of the advertising messages. They use writing approaches (orthographies) that are principally based on modern European languages and personalized linguistic creativity techniques. These advertising copywriters equally resort to inter-sentential and tag (NPE/SE) code switching/mixing as a dominant and practical paradigm.

         Pidgin English is a language which was developed in a situation where speakers of different languages have a need to communicate but do not share a common or specific language. It is generally learned as a second language and used for communication among people who speak different languages.

Language is the most creative and unlimited instrument for communication and it helps us to understand and communicate with people of the same and different backgrounds. Having said this, we can agree that pidgin is a language of its own and not just a supplementary tongue as some people consider, since it serves as an instrument of social communication, especially in a multilingual environment.

According to Linton (2012), he stated that “the culture of a society is the way of life of its people, the collection of ideas and habits which they learn, share and transmit from generation to generation.” These cultures, ideas and habits can only be transmitted from generation to generation through language. In linguistics, every language is considered adequate to represent the communicative needs of its people and as such should not be made to suffer any biases.

Nigerian Pidgin English has brought the people of Nigeria together despite their differences in culture and language by creating a local culture and language for itself which blends ideas from different cultures. The paper equally seeks to evaluate the comparative study of the effectiveness of Pidgin English in advertising.

1.2           Statement of the Problem

As an undergraduate student of Osun State Polytechnic, Iree, I have observed that students use pidgin English in different situations as a means of communication, most especially advertising. It is very interesting to note that what actually started as an “emergency language” between the white merchants who later  turned  traders has  now become  an  elitist language  in all areas of Nigeria  spoken  among  the  Nigerian  students  especially  in tertiary institution. This research therefore, intends to examine the effectiveness of Pidgin English in advertising as well as examine the reason why Pidgin English is popular among the Nigerian students in tertiary institutions based on sociolinguistic principle.

1.3           Objectives of the Study

The main objective of this study is to examine the effectiveness of pidgin English in advertising. The specific objectives are:

1. To examine the effectiveness of pidgin English in advertising among Osun State Polytechnic Iree, students.
2. To assess the extent of its popularity and the communicative situation within which it is used.
3. To examine the factors that promote the adoption of Pidgin English among students in Osun State Polytechnic, Iree.
4. To determine the extent and frequency of usage of the Pidgin English in advertising  among Osun State Polytechnic, Iree students.
5. To determine the effect of adoption of Pidgin English in advertising among students in Osun State Polytechnic, Iree.

1.4       Research Questions

1. Does pidgin English is effective in advertising among Osun State Polytechnic Iree, students.
   1. To what extent does its popularity and the communicative situation within which it is used.
   1. What are the factors that promote the adoption of Pidgin English in advertising among students in Osun State Polytechnic, Iree?

Table of Content

Title page                                                                                                                   i

Certification                                                                                                              ii

Dedication                                                                                                                 iii

Acknowledgement                                                                                                   iv

Abstract                                                                                                                     v

Table of content                                                                                                       vi

Chapter One

1.  Introduction                                                                                                 1

1.1.      Background to the Study                                                                            1

1.2       Brown Envelope and It Implication on Journalists                                 5

1.3.      Statement of the Study                                                                                6

1. Objectives of the Study                                                                                     6

1.5      Research Questions                                                                                      7

1.       Significance of the Study                                                                            7
   1.       Scope of the Study                                                                                       7
   1.       Limitation of the Study                                                                               8

1.9       Operationalization of the Concepts                                                                      8         

Chapter Two

•     Literature Review                                                                                          9

2.1.      Journalism                                                                                                     9

• The Practitioners                                                                                          10
  • Types of Journalism                                                                                                12
  • Nigeria Union of Journalists (NUJ) History                                            15
  • History of Print Media                                                                                17
  • History of Broadcasting Media                                                                  18
  • Journalists and Brown Brown Envelope                                                  20
  • Origin of Brown Envelope                                                                          22
  • Implication of Brown Envelope                                                                 24
  • Ethics Define                                                                                                            25
  • Four Major Approaches of Media Ethics                                                 25
  • Media Ethics and Brown Envelope Syndrome in                                               29
  • Journalistic Ethical Problems                                                                    31
  • Theoretical Frameworks                                                                             32

2.15    Relevance of Theories to Comparative Analysis of Brown Envelope

Syndrome among Broadcast and Print Journalists in Osun State                     32

Chapter Three

3.0       Methodology                                                                                                            33

3.1.      Research Design                                                                                          33

3.2.      Research Method                                                                                         33

3.3.      Study Population                                                                                          34

3.4.      Sample Size                                                                                                  34

3.5.      Sampling Techniques                                                                                 34

3.6.      Data Collection Instrument                                                                                   35

3.7       Data Collection Process                                                                              35

3.8       Validity and Reliability of Research Instrument                                                35

3.9       Data Analysis                                                                                               35

Chapter Four

4.0.    Data Presentation and Discussion of Findings                                         36

4.1.    Data Analysis                                                                                                 36

4.2.    Answers to Research Questions                                                                  45

4.3.   Discussion of Findings                                                                                              46

Chapter Five

5.0    Summary, Conclusion and Recommendations                                          49

5.1    Summary                                                                                                          49

5.2   Conclusion                                                                                                       49

5.3    Recommendations                                                                                          50

 References

            Appendix

CHAPTER ONE

1. Introduction

1.1.      Background to the Study

Journalism is a profession of great mind. Anaeto and Onabajo (2007) said “it is the art of collecting, producing and presenting information and events through the media: radio, television, newspaper, magazine, internet or any appropriate medium, using words, pictures, and graphics”. The hub of this definition is that people need to be informed about happenings within and outside their immediate environment. It beholds on journalist to look around and stick to what many scholars refer to as watchdog role of the journalist. This ideal of watching with keen interest, is not only on the government for making them accountable, it is equally expected of a journalist to monitor public figures and public officials. Leslie (2004) said some individuals, particularly those who hold high-profile political positions or who make their living in show business or sports, are often designated public figures.

For the journalist to carry out this great task successfully, it requires his intellectual quality, he must be widely read, good news judgment, knowing something about everything .These and many other journalistic dexterity will allow the journalist to triumph and discharge his duty efficiently at various identifiable stages in journalism. Indeed, those stages require serious approaches. It all started with news gathering, an area regarded as very sensitive and delicate i.e. identification of sources of news, how to get information from identified sources, safety of such information, the volunteer(newsmaker) of such information and the journalist who hold the information, time frame expected of a news, etc.

Information processing stage is equally an important stage that should not be toyed with rather must be taken with all sense of seriousness. This stage involves ownership, gate-keeping, individual interest, national interest and what is called ‘conflict of interest’, the medium and equipments or technology involve. And the third and last stage is information dissemination stage where information is meant to be delivered to the general public. Such information must be structured and patterned in such a way that it will fulfill the goal of media organization of keeping society inform and at the same time meet the need of the society who is eagerly waiting for the information to gratify their needs.

Journalists consider themselves an important part of contemporary society. Most subscribe to the belief that a well-informed population is of primary importance to the effective functioning of a democracy and to the growth and development of the individuals who support that democracy. Nigerians and other people of the world need news and other sorts of information to make intellectual decisions about their own lives and about the individuals selected to run their government. Rachel Khan (2005) observed that “Journalists should bear in mind that inaccurate or untruth information violates the viewer’s right to truthful information and undermines his freedom. This is because he would not have the tools to make an informed decision; or worse, he would be making a decision based on false information”. The responsibility to provide this news and information invests journalists with considerable power and influence and, for some, great financial rewards.

Meanwhile, journalism all over the world has guidelines and principles upon which to be practiced. Such guidelines cover every stage of journalism practices and an ideal journalist is expected to uphold and abide by that principles. The rules is not meant to lock the mouth of journalists and restrict their actions but it is formulated to keep men of ‘fourth estate of the realm’ in the right path and make them socially responsible to the society who they are really meant to serve in the first place. The guiding principle is known as media ethics in journalism parlance. Muhammad (2003) said “Ethics involves what is right, equitable, fair, just, dutiful and or responsible. Ethical practice is as important in media as it is in any other walk of life with high levels of public impact”. It will not only allow all mass media messages as projected by Uyo (1987:9) to be clean, clear, concise, fair, balance and objective but also reflect and uphold the integrity of practitioners. These mass media messages most especially in print i.e. news reports, features, editorials, columns, letters to the editors, reviews, personality profiles, cartoons, and advertisement etc can easily be manipulated and doctored to serve a specific purpose of the person behind such cruel act.

As important as this ethical rule is to media content(mass media messages) and practitioners, quite number of journalists still engage in some acts that are capable of putting the practice of journalism into disrepute. They keep on toeing the path that will put the profession in total dilemma. Prominent and most disturbing ethical dilemma is what is popularly known as ‘brown envelope’ in media parlance.

Basically, to run media stations require a lot of money, not only for the day to day running of the organization but also to keep the organization alert and above any internal and external threats. The most challenging threat that has been roaring it ugly head in all media organizations is ‘money palaver’. Many media house who fail to make effective and efficient planning as regard the power of money have gone down the memorable lane because of their; inability to pay staff salary, stick to outdated printing machine, low quality newsprint, low or no advertisement, low circulation figure, state of total collapse of most of the organisation physical structures and equipments etc. But those who are enjoying the patronage up till date are majorly relying on their owners and advertisers or through back doors, for their survival (who knows?).

The result of this ugly trend can be perceived in two major ways. One on the part of the workers most especially, journalist who will either be moving from one media station to the other or lead to journalist that will at all cost trying to make ends-meet as a result of organizational financial problem. Such unethical act of the journalist will definitely affect drastically his sense of news judgment. Specifically, this journalistic attitude however could be linked to four types of journalists identified by Akinfeleye (2012) Cocktail Journalism, Journalism of Next of kin or Naira and kobo Journalism, and Journalism of General Order. In the other hand, media house which cannot withstand the challenge posed by the money continue to worship various elements of the money for their survival. Explicitly, many stations are desperate to continue enjoying the patronage of the public thereby result to all forms of unethical acts that will make them relevant and move along with societal trend

This action of men of fourth estate of the realm is indeed barbaric and breach of public trust. They are expected to be a watch word and lead the society to the right path but reverse is the case as many of them are now worship money rather than serving public interest. Those that supposed to be accountable refuse to give account to the masses; they (public officials) have seen their present position as a unique opportunity to amass wealth and continue to oppress the oppressed without any public outcry. This kind of society is made possible as a result of the type of journalists in such milieu. The mouth of the journalists must have been padlocked or their hands and legs must have been chained by the government or individuals with money.

That is why most of mass media messages nowadays are full of concocted stories and many of such editorials have lost taste thereby instead of giving the media station good image in the eyes of the public but now become laughing stock. This is as a result of public perception and understanding of most media organizations. People believe, they are bias, compromise and serving specific political interest. Therefore, whatever comes out of their stations could not be regarded as true picture of the situation. Quoting Adelegan (2008) on, Nigeria union of journalists’ code of conduct said: “it is primary duty of a journalist to tell the truth. It is professional misconduct if during the course of his duty, a journalist corruptly demands and, or receives monetary or material reward in consideration for publishing or suppressing his news or views’’. 

To support this ethical position of men of pen profession is, declaration of principles on the conduct of journalists-Adopted by the Second World Congress of the International Federation of Journalists at Bordeaux on 25-28 April 1954 and amended by the 18th IFJ World Congress in Helsingör on 2-6 June 1986. Among many other things that were stated in the declaration is that, the journalist shall regard as grave professional offences the following:

1. Plagiarism.
2. Malicious misrepresentation.
3. Calumny, slander, libel, unfounded accusations.
4. Acceptance of a bribe in any form in consideration of either publication or suppression. 

In his submission, Harper (2002) said “media practitioners have a responsibility to eliminate any conflict of interest-that is, private interests that might conflict with their inability to do their job. Such conflicts can include business relationships, gifts, money, political activism, or stock ownership. He further said:‘‘most media codes of ethics pay particular attention to the practice of accepting gifts. The SPJ code notes: Gifts, favours, free travel, special treatment, or privileges can compromise the integrity of journalists and their employees. Nothing of value should be accepted” (emphasis is mine). 

This study however will look inward and outward in order to deeply understand the conceptual, empirical and theoretical frameworks of this study. Looking at all these areas will allow the researcher to understand this research work the more, and at the same time, provide resourceful information to many practitioners on their day to day activities. It will equally serve as a reference point to lovers of academic work.

1.2       Brown Envelope and it Implication on Journalists

Reporters also expose that journalist have refused covering certain issue if they were not offered informal payment, thereby putting increased pressure on sources to engage in the practice.

The phenomenon can therefore be said to represent an informal contract where both parties are expected to fulfill certain obligations. N journalistic activity, brown envelopes are related to other types of incentives that may pose a challenge to editorial independence. Freebies is one such incentive, probably known to any practicing journalist across the world. Freebies are small material benefits given to the journalist, for example a free meal or a book.

Addressed by many writes in media ethics, the freebies, although usually small, is seen as being in conflict with journalistic interest because at the end of the day “it boils down to bribery” (Retief, 2002). The basic difference between brown envelope and freebie is thus that the former donotes a cash gifts, while the letter is a material gift.

Brown Envelope Syndrome (BES) has remained a controversial issue in any debate centered on the Nigerian press, media, professionalism and media ethics. It is one of the major setbacks of media growth in Nigeria. BES is a system whereby journalist collect money or other materials gifts from news resources, company executives or event organizers to cover such events and probably give it the widest publicity as the case may be.

It symbolize the rot that has played the Nigerian media industries since the early 1980s to date. This paper therefore builds from an empirical study by the same authors, as well as literature materials to argue that media professionalism are the practical ways to ensure ethical conduct and behavior amongst journalists and other categories of media practitioners, especially in Nigeria where these are missing. This, according to the paper, is the missing link in the quest to rid the media industries in Nigeria from the monster called BES.

Adewale (2008), in his “The Rot Nigeria Journalism Is Much Deeper Than We Thought” cited a controversial statement by Graham Greene to back up his position thus: “A petty reasons perhaps why novelists is that novelist are trying to write the truth and journalist are trying to write fiction (http://www.ngex.com/public/article.phd? Article I.D = 96). This embarrassing irony apply describes the state of Nigerian journalism and journalist in particular.

From previous researches, it has been discovered that the age old trust in Nigerian journalism has been seriously eroded.

Adewale (2008) explained this fact especially in the clumsy relationship between the former national soccer coach of Nigeria, ShaibuAmodu and the vanguard sports editor and columnist, OnochieAnibeze. According to him, “the relationship was such that Amosu once asked one of his players to disembark reward for Mr. Amodu is unqualifiable and these symbiotic relationship have worked well for this journalist at the expense of their profession and the Nigerian masses”. Adewale (2008) further noted that the situation is such that we now have journalist who cover a minister and the ministry under him.

In the end, the public is isolated from the true picture of happening in such a ministry (http://www.ngex.com/news/public/article.php? Article ID = 96). The only benefactor is usually the journalist who goes with all forms of brown enveloped, junkets, free tips and etc. to the detriment of media professionalism and ethical standards.

1.3       Statement of the Problem            

This act of collecting brown envelope or gifts is now order of the day and indeed affecting journalism profession, as mass media messages even ‘editorial’ which was formally regarded formal and serious are now being concocted, make-up, fashioned, dented and subjected in order to favour or serve the interest of certain set of people. Besides, Objectivity, as enshrined in the ethics of journalism has been thrown into the wind while money, gifts, individuals, organisations or government are now in the centre stage of dictating the content and context of our newspapers in Nigeria.

This and many other things were adequately examined and studied in this research work.

1.4       Objectives of the Study

The following are the objectives which this study intends to achieve:

1. To ascertain whether Osun Defender newspaper house is objective in its reportage.
2. To determine whether Osun State journalists perceive brown envelope inducement as unethical to their profession and reputation.
3. To examine ascertain the ‘gift’ options the journalists in Osun State do collect in their course of duties.

1.5       Research Questions

These are agitating questions toward solving the research topic.             

1. How objective is Osun Defender newspaper houses in its reportage?
2. Do journalists in Osun State perceive brown envelope inducement as unethical to their profession and reputation? 

ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENT AS A MANAGERIAL TOOL FOR DECISION MAKING (A CASE STUDY OF NWOKEJI URBAN PLANNING AND ARCHITECTURAL STUDIO [NUPAS]

Abstract

Financial Statement Analysis and Interpretation is a very vital instrument of good management decision-making in business enterprise. Good decisions ensure business survival, profitability and growth. Without financial statement analysis in investment decisions, an enterprise is likely to make decisions, which could spell its doom. Poor or lack of qualitative financial statement analysis could lead to investment returns, low profitability and even inability to identify viable investment opportunities. The main objective of this project is therefore, was to determine how firms could use financial statement analysis and interpretation to aid management decisions and to avert the problems highlighted above. Primary and secondary data are employed to broaden the scope of this study. Primary data are sourced from questionnaire responses. This provided data for the validation of the hypotheses tested with the use of chi-square (X²). The test revealed as follows: (1) Significant difference between the returns of the financial statement in Analysis and Interpretation based on management decision. (2) Organizational profitability has relationship with financial statement analysis and interpretation based management decision but not significantly. The project concludes  that companies should pay great attention to the use of financial statement analysis so as to properly equip themselves with this invaluable tool. The researcher recommends the following: (a) Accountants or financial analysts should not be rushed in collection, preparation, analysis and interpretation off financial statements. (b) Financial statements should be made to reflect current cost accounting to eliminate or reduce the effects to historical cost principle and inflation risk element. (c) A combination of different ratios should be used in analyzing a company’s financial and/or operating performance. Proper use of financial statement analysis should be made not only in investment but also in other areas of decision making.

TABLE OF CONTENT

Title page        –	–           –           –           –           –           –           —	–           i
Approval page	–           –           –           –           –           –           –	–           ii
Dedication –	–           –           –           –           –           –           –	–           iii

Acknowledgement	–	–	–	–	–	–	–	iv
Abstract	–	–	–	–	–	–	–	–	–	v
Table of content	–	–	–	–	–	–	–	–	vi

Chapter One:             INTRODUCTION

1.1       Background of the Study                   –           –           –           –           –	1
1.2       Statement of Problem  –                      –           –           –           –           –	4
1.3       Objectives of the Study-                     –           –           –           –           –	4
1.4       Research Questions                 –           –           –           –           –           –	5
1.5       Hypotheses of the Study                    –           –           –           –           –	6
1.6       Significance of the Study                   –           –           –           –           –	6
1.7       Scope of the Study                 –           –           –           –           –           –	7
1.8       Limitation of the Study –                   –           –           –           –           –	7
1.9       Definition of Terms                –           –           –           –           –           –	8
References-                 –           –           –           –           –           –           –	10

Chapter Two:            LITERATURE REVIEW

1. Introduction                –           –           –           –           –           –           11
   1. What is Financial Statement?-                        –           –           –           12
      1. Objective of a Financial Statement Analysis                          –           13
   1. Uses and Users of Financial Statement  –                               –           14
   1. Classification of Financial Statement                         –           –           15
   1. Relationship among the Statement of Financial Position, Income Statement, Statement of cash

Flows and Statement of Retained Earnings                           –           18

• Techniques and financial Statement Analysis and Interpretation      –    –           –                                    –           –           –           19
  • Horizontal Analysis                –           –           –           –           –           19
  • Trend Analysis            –           –           –           –           –           –           20
  • Vertical Analysis –                  –           –           –           –           –           24
  • Ratio Analysis             –           –           –           –           –           –           24
  • Definition of Ratio                 –           –           –           –           –           24
  • Types and Classification                     —        –           –           –           26
    • Liquidity Ratios           –           –           –           –           –           –           27
    • Leverage Ratios –                   –           –           –           –           –           30
    • Activity Ratios            –           –           –           –           –           –           32
    • Profitability Ratios                  –           –           –           –           –            34
  • Nature of Accounting Ratios –                       —          –           –            37
  • Uses of Ratio in Analyzing Financial Statement                                 39
  • Limitations of Financial Statement Analysis                          –            40
  • Use of Different Accounting Principles                     –           –            40
  • Industry Affiliation                –           –           –           –           –            41
  • Accounting Differences Between Countries                          –            42
  • The Impact of Inflation of Financial Statement

Analysis –        –           –           –           –           –           –           –            42

• Features of a Good Management Decision

Technique –                 –           –           –           –           –           –            44

• Environment of Management Decision Making –                                 45

References –                –           –           –           –           —          –            47

Chapter Three

• Research Design-                    –           –           –           –           –           4
  • Sources and Method of Data Collection  —                          –            48
  • Research Instrument               –           –           –           –           –            49
  • Reliability/Validity of Research Instrument                           –            49

3.5       Population –                –           –           –           —          –           –            50

• Sample size and Technique –                          –           –           –            50
  • Administration of Research Instrument                     –           –            53
  • Method of Data Analysis                   –           –           –           –            53
  • Decision Criteria for Validation of Hypothesis                      –            56

References-                 –           –           –           –           –           —           57

Chapter Four: DATA PRESENTATION AND ANALYSIS –58

4.1       Data Presentation	–           –           –           –           –	60
4.2       Analysis of Question	–           –           –           –           –	61
4.3       Test of Hypothesis	–           –           –           –           –	71

Chapter Five:            SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

• Summary of Findings             –           –           –           –           –            76
  • Conclusion –                –           –           –           –           –           –            77
  • Recommendations                  –           –           –           –           –            77

Bibliography               –           —          –           –           –           –            79

Appendix – –               —          –           –           –           –           –            80

CHAPTER ONE

1. INTRODUCTION

• Background of the Study

The complex nature of today’s business world and the transformation of the entire world into a global village have been of great concerns to manages of all forms of business organizations. According to Ojuigo (2001), the problems of managers are multi:- varied because of inefficiency in management of poor decision outcomes of these organizations. Therefore, the managers are unable to achieve the organizational objective within a period of time.

As diverse as business is, its controllable and uncontrollable factors influence all decisions which ultimately lead to the realization of set objectives. To achieve this, management needs reliable, authentic and relevant information from the financial statements to efficiently facilitate decision making.

It must be noted that every business stores at making at least from investments “sustainable profits” so as to stay afloat and continue in business. Therefore, profit being the concern of every manager is a factor in business. To achieve this, available  information from the financial statements of organizations must be analysed, interpreted and used as a basis for decision making (Needham and Dransfield 1991). Financial statement analysis  is often considered as a vital tool used in evaluating a company’s

performance and ensuring that decisions are based on facts rather than rule of thumb.

A financial analyst needs financial statements of companies to be able to identify operating and financial problems which may affect the companies (Mbat, 2001:60). Thus, any person who analyses the financial statements of firms should be able to identify the cause and effect of financial and operating problems of such firms.

The cause of any financial or operating problem is an event, which produces an effect (the problem). However, in order to identify the cause and effect, the system, which represents an indictor f the problem, should be observed. This process is referred to as interpretation (Pandey, 2005). According to (Mbat, 2001), it is the responsibility of the financial manager or analyst to enable them make better management decisions.

The symptoms could be:

• Declining liquidity
• Declining profit
• External debt recovery period
• Increased volume of inventory
• Declining return on total assets
• Increasing operating expenses etc

The identification of causes should also be important in order to appropriately evolve corrective measures.

Financial analysis and interpretation assist in the:

• Identification of organizational performance through the use of analystical data.
• Identification of empirical relationships between operating results and those items which have influenced the achievement of the results.
• Identification of historical data order to determine which internal or external factors have exerted positive or negative influence on the operating results (Mbat 2001:61).

Categorically, there are three forms of financial analysis. These include: multivariate, univariate and ratio analysis (Welsh, 1987). Moreover, ratios are the end results of basis analysis. The ratio requires an interpretation on the basis of their trends and in the lights of what is known of the business as a young concern. It should be noted that financial statements represent the positions of a firm at a particular point in time.

However, the success or failure of a business depends largely on the quality of decisions made by management, which in turn depends on reality of accounting information available on them.

Research into this area is quite relevant given the apparent investment failures experienced by many business organizations.  The collapse of many business either private or public is due to poor decision. The question is whether management has used information provided in the financial statement extensively to enable rational decision making?

                        Statement of the Problem

The principal aim of making investment decision is to get adequate returns from it. According to Needham and Dransfield (1991), “people as a rule will only tie up their money in a business if they are satisfied with the returns they get from it”.

In an attempt to achieve maximum returns from investment in production, services shares or stock and/or other securities outside the firm, a comprehensive analysis of the company which is intended to be invested in should be carried out using the company’s financial statements to ascertain both its explicit and implicit investment opportunities. However, organizations that do not use financial statement analysis in making investment decisions could be ill formed. As a result, the following problems may arise:

• Inability to identify viable investment opportunities
  • Decreasing returns from investments.
  • Decline in organizational overall profitability.
  • Increased         investment         risk:      The      organization          might      not achieve its corporate objective at the end of the period.

If the trend continues, it will likely lead to the failure of the organization. Therefore, there is a great need for organizations to consider and analyse company’s financial statements before investing in that company. These are the focus of this study.

                        Objectives of the Study

On noting that most investments made by firms end in failure, it is the overall objective of this study to determine how firms can use

financial statement analysis and interpretation to aid management decisions. Specifically, the study is designed to:

1. Find out how the use of financial statement analysis assists organizations in identifying investment opportunities.
2. Find out how increasing investment returns can be achieved using financial statement analysis.
3. Find out the extent to which a company’s overall profitability can be hampered if it does not analyse another company’s financial statement before investing in it.
4. Find out how business failures can be curbed or minimized and corporate objective achieved through successful investment.
5. Identify alternative ways of minimizing investment risk.

                        Research Questions

The following questions are put forward for the purpose of the study.

1. Is financial statement analysis important/necessary in every organization?
2. Who are the users of financial statement?
3. How      can       a     financial        statement          of     an      organization          be interpreted?
4. How     can      its     interpretation          be      used       in     making       effective management decisions?

• Hypotheses of the Study

To id the achievement of the desired objectives, the following hypothesis are formulated:

H_O: Represents Null hypothesis

H_I: Represents Alternative hypothesis

Research hypothesis No 1

H_O: There is no significant difference between the returns of a financial statement analysis and interpretation based on management decisions.

H_1: There is a significant difference between the returns of a financial statement analysis and interpretation based on management decisions.

Research hypothesis No 2

H_O: There is no significant relationship between a firms profitability an financial statement analysis and interpretation based management decisions.

H_I: There is a significant relationship between a firms profitability and financial statement analysis and integration based management decision.

• Significance of the Study

The study of the use of financial statement analysis and interpretation in management decision is meant to contribute immensely to sustained business operations in selected firms south south region and general growth in business, be it private or public. The study shall be beneficial in the following ways:

1. It will redirect management on the need for the use of financial statement analysis and interpretation of rational investment decision.

1. It will inform management on the possible and available investment ratio, their functions and uses for a greater evaluation of a company’s capabilities and profitability.
2. The work will also serve as a reference material to other persons who will conduct studies in similar areas both within and outside the university.

                        Scope of the Study

The study is conducted to cover selected firms both in South- South region.

However, this study is conducted to cover the use of financial statement which includes; (Balance sheet, income statement, statement of cash flow and statement of retained earnings) analysis civil interpretation management decision.

                        Limitation of the Study

The research work has some limitations due to some problems encountered from the sources of collecting useful materials also some unforeseen circumstances which posted as a threat during preparation of this research project includes:

• TIME: A research of this kind would require enough time to cover many areas of activity effectively, but since the researcher is a student with other classroom works to do, the time allocated for the study was limited.

• FINANCE: During the course of this research, another stumbling block. Judgment financial resources was encountered. The researcher has to make due with little financial provision available to achieve a qualitative and acceptable research finding.
• Health was also a limiting factor, for instance, the researcher falling ill in the cause of the study, which stopped the research for some time.
• TRANSPORATION: The source of collecting useful material or information is far and the transport logistics expensive, in some cases, the journey was fruitless if the staff was not available.

                        Definition of Terms

CHAPTER ONE

1. INTRODUCTION

• Background of the Study

The complex nature of today’s business world and the transformation of the entire world into a global village have been of great concerns to manages of all forms of business organizations. According to Ojuigo (2001), the problems of managers are multi:- varied because of inefficiency in management of poor decision outcomes of these organizations. Therefore, the managers are unable to achieve the organizational objective within a period of time.

As diverse as business is, its controllable and uncontrollable factors influence all decisions which ultimately lead to the realization of set objectives. To achieve this, management needs reliable, authentic and relevant information from the financial statements to efficiently facilitate decision making.

It must be noted that every business stores at making at least from investments “sustainable profits” so as to stay afloat and continue in business. Therefore, profit being the concern of every manager is a factor in business. To achieve this, available  information from the financial statements of organizations must be analysed, interpreted and used as a basis for decision making (Needham and Dransfield 1991). Financial statement analysis  is often considered as a vital tool used in evaluating a company’s

performance and ensuring that decisions are based on facts rather than rule of thumb.

A financial analyst needs financial statements of companies to be able to identify operating and financial problems which may affect the companies (Mbat, 2001:60). Thus, any person who analyses the financial statements of firms should be able to identify the cause and effect of financial and operating problems of such firms.

The cause of any financial or operating problem is an event, which produces an effect (the problem). However, in order to identify the cause and effect, the system, which represents an indictor f the problem, should be observed. This process is referred to as interpretation (Pandey, 2005). According to (Mbat, 2001), it is the responsibility of the financial manager or analyst to enable them make better management decisions.

The symptoms could be:

• Declining liquidity
• Declining profit
• External debt recovery period
• Increased volume of inventory
• Declining return on total assets
• Increasing operating expenses etc

The identification of causes should also be important in order to appropriately evolve corrective measures.

Financial analysis and interpretation assist in the:

• Identification of organizational performance through the use of analystical data.
• Identification of empirical relationships between operating results and those items which have influenced the achievement of the results.
• Identification of historical data order to determine which internal or external factors have exerted positive or negative influence on the operating results (Mbat 2001:61).

Categorically, there are three forms of financial analysis. These include: multivariate, univariate and ratio analysis (Welsh, 1987). Moreover, ratios are the end results of basis analysis. The ratio requires an interpretation on the basis of their trends and in the lights of what is known of the business as a young concern. It should be noted that financial statements represent the positions of a firm at a particular point in time.

However, the success or failure of a business depends largely on the quality of decisions made by management, which in turn depends on reality of accounting information available on them.

Research into this area is quite relevant given the apparent investment failures experienced by many business organizations.  The collapse of many business either private or public is due to poor decision. The question is whether management has used information provided in the financial statement extensively to enable rational decision making?

                        Statement of the Problem

The principal aim of making investment decision is to get adequate returns from it. According to Needham and Dransfield (1991), “people as a rule will only tie up their money in a business if they are satisfied with the returns they get from it”.

In an attempt to achieve maximum returns from investment in production, services shares or stock and/or other securities outside the firm, a comprehensive analysis of the company which is intended to be invested in should be carried out using the company’s financial statements to ascertain both its explicit and implicit investment opportunities. However, organizations that do not use financial statement analysis in making investment decisions could be ill formed. As a result, the following problems may arise:

• Inability to identify viable investment opportunities
  • Decreasing returns from investments.
  • Decline in organizational overall profitability.
  • Increased         investment         risk:      The      organization          might      not achieve its corporate objective at the end of the period.

If the trend continues, it will likely lead to the failure of the organization. Therefore, there is a great need for organizations to consider and analyse company’s financial statements before investing in that company. These are the focus of this study.

                        Objectives of the Study

On noting that most investments made by firms end in failure, it is the overall objective of this study to determine how firms can use

financial statement analysis and interpretation to aid management decisions. Specifically, the study is designed to:

1. Find out how the use of financial statement analysis assists organizations in identifying investment opportunities.
2. Find out how increasing investment returns can be achieved using financial statement analysis.
3. Find out the extent to which a company’s overall profitability can be hampered if it does not analyse another company’s financial statement before investing in it.
4. Find out how business failures can be curbed or minimized and corporate objective achieved through successful investment.
5. Identify alternative ways of minimizing investment risk.

                        Research Questions

The following questions are put forward for the purpose of the study.

1. Is financial statement analysis important/necessary in every organization?
2. Who are the users of financial statement?
3. How      can       a     financial        statement          of     an      organization          be interpreted?
4. How     can      its     interpretation          be      used       in     making       effective management decisions?

• Hypotheses of the Study

To id the achievement of the desired objectives, the following hypothesis are formulated:

H_O: Represents Null hypothesis

H_I: Represents Alternative hypothesis

Research hypothesis No 1

H_O: There is no significant difference between the returns of a financial statement analysis and interpretation based on management decisions.

H_1: There is a significant difference between the returns of a financial statement analysis and interpretation based on management decisions.

Research hypothesis No 2

H_O: There is no significant relationship between a firms profitability an financial statement analysis and interpretation based management decisions.

H_I: There is a significant relationship between a firms profitability and financial statement analysis and integration based management decision.

• Significance of the Study

The study of the use of financial statement analysis and interpretation in management decision is meant to contribute immensely to sustained business operations in selected firms south south region and general growth in business, be it private or public. The study shall be beneficial in the following ways:

1. It will redirect management on the need for the use of financial statement analysis and interpretation of rational investment decision.

1. It will inform management on the possible and available investment ratio, their functions and uses for a greater evaluation of a company’s capabilities and profitability.
2. The work will also serve as a reference material to other persons who will conduct studies in similar areas both within and outside the university.

                        Scope of the Study

The study is conducted to cover selected firms both in South- South region.

However, this study is conducted to cover the use of financial statement which includes; (Balance sheet, income statement, statement of cash flow and statement of retained earnings) analysis civil interpretation management decision.

                        Limitation of the Study

The research work has some limitations due to some problems encountered from the sources of collecting useful materials also some unforeseen circumstances which posted as a threat during preparation of this research project includes:

• TIME: A research of this kind would require enough time to cover many areas of activity effectively, but since the researcher is a student with other classroom works to do, the time allocated for the study was limited.

• FINANCE: During the course of this research, another stumbling block. Judgment financial resources was encountered. The researcher has to make due with little financial provision available to achieve a qualitative and acceptable research finding.
• Health was also a limiting factor, for instance, the researcher falling ill in the cause of the study, which stopped the research for some time.
• TRANSPORATION: The source of collecting useful material or information is far and the transport logistics expensive, in some cases, the journey was fruitless if the staff was not available.

                        Definition of Terms

* RATIOS: A ratio is the relationship between two amounts that results from dividing one by the other.