ACCOUNTING EDUCATION TOPIC: EFFECT OF RECRUITMENT AND SELECTION PROCEDURE ON ORGANISATIONAL PRODUCTIVITY (A CASE STUDY OF NIGERIA BREWERIES PLC)

EFFECT OF RECRUITMENT AND SELECTION PROCEDURE ON ORGANISATIONAL PRODUCTIVITY

(A CASE STUDY OF NIGERIA BREWERIES PLC)

                                                  BY

                                   HASSAN MORUF ADIO

                           MATRIC NO: EKSU/EPE/12/0066

A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING FACULTY OF EDUCATION, EKITI STATE UNIVERSITY, ADO-EKITI

IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF SCIENCE (ED) IN ACCOUNTING

                                           DECEMBER 2017

         CERTIFICATION

This is to certify that this project was carried out under my supervision by Hassan Moruf Adio with matric number EKSU/EPE/12/0066 and has been approved as meeting the requirement of the faculty of education, Department of Accounting education, Ekiti state university, Ado Ekiti Nigeria.

________________                                                                _______________

   Mr. Ola E.O                                                                                  Date

   Supervisor

_______________                                                                            _______________

 Mr. Adebosin W.G                                                                         Date

 Head of department

________________                                                                _______________

Dr. O.A. Viatonu                                                                                       Date

Directorate of Degree Programme                                        

________________                                                                _______________

External Examiner                                                                          Date

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                                          DEDICATION

This project is dedicated to Almighty Allah, the beneficent, the merciful, the Holy, the forgiver, the protector, who has kept me alive till this time and has been wonderful to me.

It is also dedicated to my parents Mr and Mrs Hassan for their moral, spiritual support and their understanding and co-operation toward the completion of this project.

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                               ACKNOWLEDGEMENT

I express enormous appreciation to Almighty Allah, the protector for spearing my life and made my degree programme a successful one, glory be to him. Am very grateful and appreciative to those who contributed in no small measure either directly or indirectly to the successful completion of the research project.

Firstly, I thank my supervisor, Mr. Ola E.O for his support and good suggestion, fatherly advice, and kindness in reading this paper before final presentation. Kudos to you sir, Heaven is your reward.

Heartily, I appreciate my parents, Mr and Mrs Hassan for their full support for the success of my education, an enormous thanks to you (mum and dad). I pray insha Allah you will eat the fruit of your labour.

My sincere appreciation goes to my Udthaz, Sulaimon Akanbi Muhammad Awwal, a great thanks to you sir for your moral advice and correction toward my educational career.

My special thanks goes to Mr and Mrs Oduola for their support and assistance toward my education.

I will not forget to appreciate your effort on me sir, Mr Ajao Ibrahim akanbi for your fatherly advice, support, to the success of my educational career.

I also appreciate some of my departmental lecturers Mr Adebosin, Mr Ayanwole, Mr Oyewole, Mr Oluwo, Mr Adeyemi etc for their love, reasonable advice, sound academic, moral teaching and assistance. I would love to express more of my gratitude to my mother, my backbone, my adviser, Mrs Hassan Balikis Adeola

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Abake who has always be there for me even when all hope is lost, she trust me, taught me the meaning of perseverance. You are indeed an epitome of love and virtuous woman.

I would like to convey my heartfelt to my brothers, my sisters, my cousins (nephew and nieces) and all my relatives, for their support and silent prayers. I am grateful to you all.

My appreciation also goes to Omotoprecious Ventures for the typesetting of this work and to my friends; Azeez Adamoh, Miss Wosilat (Mummy Qudus), Ibitomi Titilope, Sulaimon Aishat Oluwatosin for their support through out my education. Heaven is your reward.

I cannot but appreciate my school mates. Firstly, the (SRC president) Adeyemo Omolara, (SRC vice president) Adenuga Oluwaseun, Azeez Misturat, Tijani Suliat (my school mother), Olaniyan Adesola, Fatoyinbo Gbemisola, Yussuf Ruqayat, Openaike Damilola, my humble friend Oguntola Olumide Olufemi, , Rasheed Kazeem Oluwaseun (my HOC of department) , Abdul hameed Ishaq, Shanusi Lawrence and host of others, you are all special. Thank you so much.

I must specially thank all the members (planet 57 and dream team) which are Kudex, Yusbet, Juddy mic, Boko, Jaido BOB, Locadia, Lumi, Kaydee, Annie, Toyosi, Sir Matto, Baddo, Illy temple, udthaz sodiq, Toyo baby, Oreoluwa, Omolara, Portable, Aunty Opeyemi, Debbie, Gudlock omo Akodu, Kudirat akodu (AKA iya Khaleed) and baby of the house, Khaleed Akodu (AKA Willian). A big shout out to you all, may Almighty Allah be with every one of you. Finally, I also appreciate my heart seal, Olayemi Olawunmi Rofiat who have been helpful to me towards my educational career and life. Heaven is your reward

I love you all and may Almighty Allah bless you all (Amin).

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                                                ABSTRACT

The most valuable asset of any organization is its human resources. The acquisition of the relevant labour force centres on recruitment and selection process. The ways and method of recruitment and selection of employees however are now challenging today more than ever before by a changing and more demanding labour force that has high expectations about the work place. Simultaneously, rapidly advancing technologies and outside influences are changing the nature of the jobs. It is therefore pertinent to investigate the impact of recruitment and selection on organizational productivity which we took (The Nigeria Breweries Company Plc) as a case study. The hypothesis earlier derived help to guide the study. Therefore it is recommended that adequate attention should be paid to the recruitment and selection of workers in order to promote organization productivity and also to enhance the standard of the product to be produced, because the efficiency and intellectual of the employees been employed will surely boost the level of productivity. This means the right people should be employed at the right time, for the right-job and to the right position.

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                                      TABLE OF CONTENT

Title page

Certification

Dedication

Acknowledgement

Abstract

Table of content

CHAPTER ONE: INTRODUCTION

1.1   Background Of The Study

1.2   Statement Of Problem

1.3   Objective Of The Study

1.4   Research Question

1.5   Research Hypothesis

1.6   Significance Of The Study

1.7   Scope And Limitation Of The Study

1.8   Definition Of Terms

1.9   History Of Nigeria Breweries Plc

CHAPTER TWO: LITERATURE REVIEW

2.1 Introduction

2.2 Conceptual Framework

2.3 Personnel Recruitment Defined

2.4 Recruitment Consideration

2.5 Labour Concept

2.6 Personnel Selection

2.7 The Selection Process

2.8 Procedures for Selection Process

2.9 Personnel Procurement

2.10 Orientation Program

2.11 Staff Training and Development

2.12 Compensation

2.13 Motivation

2.14 Evaluation

CHAPTER THREE: METHODOLOGY

3.1 Preamble

3.2 Research Design

3.3 Population of the Study

3.4 Sampling Size and Sampling Procedure

3.5 Source of Data Collection

3.6 Data Collection Instrument

3.7 Standardization of Data Collection Instrument

3.8 Analysis of Data Method

3.9 Limitations

CHAPTER FOUR: DATA ANALYSIS AND PRESENTATION

4.1 Introduction

4.2 Respondent Characteristics and Classification

4.3 Presentation and Analysis of Data

4.4 Testing Of Hypothesis

4.5 Discussion of Findings

CHAPTER FIVE: SUMMARY, CONCLUSION, AND RECOMMENDATION

5.1 Summary of Findings

5.2 Conclusions

5.3 Recommendations

5.4 Suggestion for Further Studies

      Reference

      Questionnaire

                                                            CHAPTER ONE

                                                     INTRODUCTION

1.1   Background Of The Study

Today, there is a general believe that management decision should be based on the best information that is available at the time. This means that, so far as possible that there should be relevant, objective and adequate in both quality and quantity human beings are the life blood of any enterprises. They are literally company most vital assets. The profitability and the survival of enterprises usually depend upon the members of the work force. Since recruitment process opens the company’s door to the world of breakthrough and objective realization, the manner in which employee process is conducted is of crucial importance.

Recruitment is not only concerned with engaging number of people, it is also concerned with measuring their quality. It is not a matter of satisfying a company future but rather it is accumulative result that predetermines the future health of an enterprise. The efficient recruitment and selection pattern leads to the development of an efficient work force. The need to make accurate decision is in the hand of selection of human qualities and traits which depends on good and objective method of getting them. The study is therefore, concerned with future goal of the organization as to make a concrete evaluation and selection of people for a particular job in an organization and also to asset the individual formulating and developing his future plans and goals.

1.2   Statement of Problem

In view of the present economy depression and instability, most organizations have ignored important things t be done in selecting and recruiting people to enhance organization productivity. It is obvious that the process of screening and consideration of applications are formalities. Most organizations do not even take into consideration the performances of workers after recruitment and selection. So, this research is meant to assess the effects of connection of quota system as the case may be to verify the process of recruiting and selection on organization productivity.

1.3 Objective of the Study

1.     To evaluate the impact of method of recruitment and selection process on productivity.

2.     To evaluate important qualities and inabilities and abilities workers must possess in order to reach an optimal performance.

3.     To evaluate the impact of recruitment and selection process as regards to measuring of quality and efficiency of employees.

4.     To examine the impact of quality and quantity of individual productivity on an organization.

5.     To make recommendation on how recruitment and selection process can be more effective on productivity.

1.4 Research Question

The following questions shall provide solution to the problems.

1.     What is the productivity of workers regarding recruitment and selection process?

2.     Is there any manner of selection process in which organization productivity can be best maximized?

3.     What is the cost of training and development process on an organization?

4.     How can workers morale affect the way they are recruited and selected?

5.     How can recruitment and selection process be made more effective on productivity?

1.5 Research Hypothesis

The following hypothesis are stated and tested later in the study.

Hypothesis I

HO: There is no direct relationship between company’s recruitment strategy and employee’s productivity.

Hi: There is direct relationship between company’s recruitment strategy and employee’s productivity.

1.6 significance of the Study

organization and non material economic growth and development which depends on effective recruitment and selection process in acquiring its human power contribute immensely to better standard of living, reduce crime rate (organization under study i.e. “Nigeria breweries plc” (NB plc) would be the first beneficiary of this study since it centers on the productivity of its employees. The employees of the organization under investigation will not be left out since the focus of the study is on them and as well as how their performance could be improved upon through training and development programs.

Lastly, Nigerians will not be left out since the Gross Domestic Product (GDP) will be affected positively if productivity and profitability of the organization got increase through increase in employment performance.

1.7 Scope and Limitation of the Study

This study basically process on the impact of the recruitment and selection process adopted by an organization on the performance and profitability of such organization using Nigeria Breweries plc, which has its corporate Head Office at Iganmu, Lagos as a case study.

It should be noted that this research effort was not free from constraints like time and inadequate fund, which have registered its affect on the major findings stated in this report.

Time Constraint: this research contented with the storage on the “part” of respondents used in this study due to their schedule on their job as well as gathering the statistical data limited.

Inadequate Finance: the research also contended with inadequate fund availability, which was majorly revealed in the number of questionnaires printed and the number of visitors made.

1.8 Definition of Terms

·        Recruitment: the act of interviewing job applications with a view of giving the available job to the successful candidate.

·        Selection: the act of making choice from many applicants

·        Labour Exchange: a body that takes the record of employees and locates them where it is necessary.

·        Curriculum Vitae: a document containing basic information about applicants

·        Aptitude test: a test of knowledge

·        Performance: it is measure of input of resources compared to out put of such employee of an organization and its employee.

·        Management: the process of getting things done through others

·        Personality: people perception about an individual

·        Unemployment: the act of not been employed.

·        Advertising: creating awareness

·        Employee: a worker under employer.

·        Process: way or path.

                 

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ACCOUNTING EDUCATION TOPICS: IMPACT OF FOREIGN EXCHANGE CONTROL ON BANK PERFORMANCE IN NIGERIA ( A CASE STUDY OF FIRST BANK OF NIGERIA) BY

IMPACT OF FOREIGN EXCHANGE CONTROL ON BANK PERFORMANCE IN NIGERIA

      ( A CASE STUDY OF FIRST BANK OF NIGERIA)

                                                                        BY

A RESEARCH PROJECT SUBMITTED TO THE DEPARTMENT OF ACCOUNTING FACULTY OF EDUCATION,  EKITI STATE UNIVERSITY, ADO EKITI. IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE OF BACHELOR OF SCIENCE (ED) IN ACCOUNTING

                                                                                                       DECEMBER, 2017

                                             CERTIFICATION

This is to certify that this study was carried out under my supervision by Mr. Akano and has been approved as meeting the requirements of the faculty of Education, Department of Accounting, University of Ado-Ekiti Nigeria.

`

________________                                                                _______________

Mr. Akano K.                                                                                          Date

Supervisor

________________                                                                _______________

Mr. Adebosin W.G                                                                          Date

________________                                                                _______________

Dr. O.A. Viatonu                                                                                       Date

Directorate of Degree Programmes

________________                                                                _______________

External Examiner                                                                          Date

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                                                DEDICATION

This research work is dedicated to God the Almighty for His grace, strength, the ability and most importantly the direction during my period of study.

          Also, in memory of my late father, Mr. Ekpe. May his soul rest in perfect peace (Amen).

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                                       ACKNOWLEDGEMENTS

I express enormous appreciation to Almighty God, the protector for spearing my life and making my degree programme a successful one. Am very grateful and appreciative of those who contributed in no small measure either directly or indirectly to the successful completion of the research project.

Firstly, I thank my supervisor, Mr. Akano for his support and good suggestion, fatherly advice, and kindness in reading this paper before final presentation. Kudos to you sir, Heaven is your reward.

I also appreciate my departmental lecturers Mr Adebosin W.G, Mr Ayanwole A.A, Mr Oyewole, Mr Oluwo, Mr Adeyemi A.P etc for their love, reasonable advice, sound academic, moral teaching and assistance.

Heartily, I appreciate my parent, Mrs Ekpe Rosemary Ginka for her full support in the success of my education, an enormous thanks to you (mum). I pray you will eat the fruit of your labour.

My sincere appreciation goes to my elder brother, Adebola Ogunlana, a great thanks to you sir for your moral advice and correction and unending support toward my educational career.

My special thanks goes to my closest friends; David Eucharia, Alelamole Precious, Tunde, Ebunu Blessing for their support and assistance toward my education.

I will not forget to appreciate my hostel mates; Akpan Nsikak, Oguntunwase Oluwabunmi, Adigun, Kemi, Wunmi, Dami, Lolade, Tilewa and Biggy,

I also appreciate the efforts of Omotoprecious Ventures in the typesetting of this research study.

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                                                ABSTRACT

The objective of this study was to establish the control and implication of foreign exchange transaction on bank performance in Nigeria using First Bank Plc as a case study. To achieve this, the study was analyzed in five chapters. It made use of both primary and secondary data obtained from articles, journals, magazines of First Bank Plc. To data was analyzed using both descriptive inferential statistics such as questionnaires. The study revealed that most of the banks in the Nigeria have related problem in control which has heavy implications on foreign exchange transaction. The study provided empirical evidence to support that foreign exchange transaction has impact on banks net earnings in Nigeria.

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                                                TABLE OF CONTENT

TITLE PAGE

CERTIFICATION

DEDICATION

ACKNOWLEDGEMENT

ABSTRACT

TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

1.1  background to the study                                                              1

1.2  statement of the problem                                                             5

1.3  Scope and Limitation of the Study                                                       5

1.4  Research Questions                                                                     6

1.5  research Hypotheses                                                                             6

1.6  significance of the study                                                              7

1.7  Definition of Terms                                                                     7

CHAPTER TWO: LITERATURE REVIEW

2.1     Introduction                                                                                      9

2.2     Capital Market and Economic Growth                                   19

2.3     Conceptual Framework                                                           31

2.4     Empirical Framework                                                             35

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2.5     The measure and Types of Banking Risk                                41

2.6     Exchange Rates                                                                       44

2.7     empirical framework                                                               25

CHAPTER THREE: RESEARCH METHODOLOGY

3.1     Research design                                                                       48

3.2     Population of the Study                                                                   48

3.3     Sample and sampling techniques                                            49

3.4     Sources of Data Collected                                                       49

3.5     Research Instrument                                                                50

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS

4.1     Returns of Questionnaire                                                                  51

4.2     Data Presentation                                                                    51

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATION

5.1     summary of Findings                                                              65

5.2     conclusions                                                                              65

5.3     recommendations                                                                    66

REFERENCES                                                                                 68

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APPENDIX          I                                                                                    72

APPENDIX II                                                                                   74                                                                       

                                                           CHAPTER ONE

                                                          INTRODUCTION

1.1     BACKGROUND OF THE STUDY

          Foreign can be defined as the means of payment for international transaction. Foreign exchange is a monetary asset used on a daily basis to settle international transaction and to finance deficit in a country’s balance of payments. It is therefore a very important of a country’s stock of external reserves.

          Foreign exchange market is the medium of interaction between the sellers and the buyers of foreign exchange in a bid to negotiate a mutually acceptable \price for the settlement of international transactions. It is made up of obligation lawfully entered into. Since currencies include those of the group of seven industrialized countries comprising the United States (Dollars), British (Pounds Sterling), Deutsche (Mark), Japanese (Yen), French (Franc), Italian (Lira), and Canadian (Dollar). The role of banking industry towards the economic growth and development of a particular country cannot be overemphasized. This is obviously reflected in its functions as an asset of financial intermediation between savers and borrowers of investible fund. Banking in Nigeria is more than a century old now, with the earliest indigenous bank being the First Bank of Nigeria PLC established in 1984. One major function that has greatly contributed to the relative importance of the notable industry is its ability to make investible fund available to the customers. In Dr. Herber Hurt’s book, law of banking, he defined bank as a person or company carrying on the business of receiving monies and collecting draft from time to time by customers to the extent of the amount available in their current account. The Nigeria Banking Act of 1969 (herein after referred to in the Chapter as the Act) adopted the same approach when in its section 41, it defined a bank as any person who carries on banking business and include commercial bank, discount houses and merchant banks. The same section include the receiving of monies from outside sources as deposit irrespective of the payment of interest of thr granting of money loans securities for account and others of the incurring of the obligation to acquire claims in respects of loans on the assumption of guarantees and other warranties for others or the effecting of transfer and clearing and such other transactions a s commissioner may, on th recommendation of Central Bank by other published in the gazette, designated as banking business.

FIRST Bank of Nigeria Plc, is a full banking group, headquarter in Lagos, Nigeria with the vision to be the premier financial service group of Africa origin. From it early origin in investment banking a at securities limited in 1977, First Bank of Nigeria established in 1980, has emerged as one of the leading financial services institution in Nigeria and one of the top eight leaders in the country with subsidiaries that are market leaders in their respective limited liability company on 20^th April 1983. On 15^th July 2004, the bank changed its status from a private limited liability company to a public limited liability company and was listed on the Nigeria stock exchange. By introduction, on 21^st December 2004, as at assets, 2000 employess over 270 branches in Nigeria had a licensed banking subsidiary in the United Kingdom First Bank of Nigeria UK and a representative office in the republic of South Africa. It was the first Bank to be established in Nigeria without government or foreign support. On 15^th july 2004, First Bank of Nigeria changed its status from a private limited liability company was listed on the Nigeria stock exchange (NSE) by introduction on 21^st December 2004. The bank started as a merchant bank lending among the top two until it converted to a universal bank in 2001. First Bank of Nigeria Plc shares were listed on the Nigeria stock exchange by 2004 and afterwards successfully raised additional capital in excess of 20 billion through private and public offers. First Bank of Nigeria also has subsidiary called First Bank of Nigeria capital markets which is an investment bank with a good history of serving the financial need of the government and other clients. The entity from which the bank was founded city securities limited, which was established in 1977 First Bank of Nigeria PLC was in corporation as a private limited liability company on 20 April 1982 and granted banking license on 11^th of August 1983. It was the first bank to be established in Nigeria without government or foreign support on 15^th July 2004, FBN changed its status from private limited liability company to public limited liability company and was listed on the Nigeria stock exchange (NSE) by introduction on 21^st December 2004. In November 2010, both first bank and first city monument bank announced that First Bank of Nigeria has expressed interest in acquiring shareholding and became the strategic investor in first city monument bank; another Nigerian commercial bank that was undercapitalized in February 2012, following regulatory approval FBN acquired 100% shareholding and began integration of FCMB in its existing operation. FBN is a large financial services provider in Nigeria offering retail banking, corporate banking and investment banking services to large corporations, small and medium scale enterprises, as well as individual. First Bank of Nigeria has a number of active non-bank subsidiaries, which together with the bank, form the first Bank group member of the group. same section include the receiving of monies from outside sources as deposit irrespective of the payment of interest of the granting of money loans, securities for account and others of the incurring of the obligation to acquire claims in respects of loans prior to the assumption of guarantees and other warranties for others or the effecting of transfer and clearing and such other r\transactions as commissioner may, on the recommendation of Central Bank by other published in the Gazette as banking business.

1.2     STATEMENT OF THE PROBLEM

          Nigeria suffers from the preliminaries of foreign exchange shortage and a constantly depreciating naira and all sort of share practice by players in the foreign exchange market. Several time the federal government resorted to dipping into the foreign reserve to bridge the gap between demand and supply. Yet government has experimented with different foreign exchange system from the second tier foreign exchange market (SFEM) used during the Babaginda era to the current Dutch Auction system (DAS) being used now.

1.3     SCOPE AND LIMITATION OF THE STUDY

          This study is intended to determine the impact of foreign exchange as a strategy for banks survival in a depressed economy.

          The study covers foreign exchange transaction control on bank performance in Nigeria with a case study of First Bank of Nigeria. The major constraint of this research work is time and finances.

1.4     RESEARCH QUESTION

i.        What are the roles of the foreign exchange market operation in implementing foreign          exchange regulation?

ii.       To what extent has policies on foreign exchange control enhanced the stability of the          Nigerian economy?

1.5     RESEARCH HYPOTHESIS

          Hypotheses are tentative statements that need to be tested for rejection or acceptance and it is divided into null hypothesis (H0) and alternative Hypothesis (H1).

H0₁: Foreign exchange transactions have no significant impact on the earning of Nigerian banks.

Ha₁:   Foreign exchange transaction has significant impact on the earning of Nigerian banks.

Ho₂: Foreign Exchange policy control has no significant effect on the stability of the Nigerian Economy

Ha₂:   Foreign Exchange policy control has significant effect on the stability of the Nigerian Economy

1.6     SIGNIFICANCE OF THE STUDY

          The findings of this study will throw more light into some confusing issues about foreign exchange transaction in the banking industry. The aftermaths of this study will disclose the practicality and the adoptability of foreign exchange transaction and control in Nigeria.

1.7     DEFINITION OF TERMS

I.       Foreign exchange: It is the operation carried out in currency other than the country own base currency.

ii.       Research: It is the systematic investigation and study of material source etc in order to establish facts and reach conclusion.

iii.      Money: It is anything which is generally acceptable in exchange for goods and services or in settlement of debts.

iv.      Exchange Control: It includes Government measure which result in interference with the normal force of supply and demand for foreign exchange.

v.       currency: it is the note and coins issued by the central bank of a country or issued for the country as a legal tender.

vi.      Exchange rate: It is a rate at which a country “A” will thus have to exchange part of his product for part of country “B” services.

vii.     Foreign exchange market: It is a medium of interaction between the sellers and buyers of foreign exchange in a bid to negotiate a multiculinary acceptance price for the settlement of international transactions.

vii.     Black Market: The illegal business of buying and selling of currency in violation of restriction such as price controls or rationing.

viii.    Second tier foreign exchange market: it is the determination of the naira exchange rate and allocation of foreign exchange which is based on market forces.

                  

      Bank: ACCESS BANK PLC

   Account Name: ALELAMOLE PRECIOUS H. 

   Account Number: 0732881883

   Account Type:SAVINGS
   Amount: ₦3,000

INSTRUCTIONS AFTER PAYMENT.

After payment, send the following details to 08133742738 or 08056089202 or e-mail your payment details to omotopreciousventures@yahoo.com

Payment Details We Expect From You.

• Depositor’s name
• ATM location (for ATM transfers)
• Bank used in making the payment (for ATM transfers and Bank deposits)
• Amount paid
• The Requested Project topic
• A functional e-mail address

Projects are sent in MS word format within 30 minutes of payment confirmation.

   For questions and complaints call: +2348133742738 or +2348056089202

                                                          viii