Artificial Intelligence Adoption and Corporate Operating Activities of Deposit Money Banks (Published)
The deposits money banks (DMBs) in Nigeria that invested artificial intelligence (AI) were considered in this study with the objective to know the effect of AI on employee cost and other operating cost in the banking sector. The study adopted ex-post facto research design. Secondary data were gathered between 2012 and 2022 from the respective financial statements of the DMBs and analyzed using panel regression model. It was gathered that the adoption of AI has negative effects on employee cost while it has positive effects on operating expenses of DMBs in Nigeria. The study concluded that the adoption of AI by DMBs in Nigeria will improve their corporate operating activities which will translate to improve financial performance. Government should regulate the activities of DMBs to forestall any form of laying-off.
Keywords: Artificial Intelligence, Financial System, Operating Cost, employee cost
CASHLESS ECONOMY AND FINANCIAL STATEMENT REPORTING IN NIGERIA (Published)
This article examined development and challenges of cashless policy in Nigerian economy and determined its effect on business transactions and financial reporting. Sample size was drawn from the population in South East of Nigeria. Questionnaire and oral interview were main research instruments; analysis of data and test of hypotheses were carried out using Z – test statistics and Chi-square. Main findings in the study include; Stakeholders in the financial statements of corporate entities place more credence on financial statements emanating from cashless-based economies because of its effect on reduced tax evasion, inflation and revenue leakages, easier to comply with auditing standards and effective performance of business transactions. Challenges on adequate and standard infrastructure, low level of literacy and poor banking habits were revealed. There was also this perceived increased cost on the part of vendors while disposing of their wares which would have been avoided if the transaction was by cash.
Keywords: Business Transaction, Cashless, Economy, Financial Reporting, Financial System