EFFECT OF EXCHANGE RATE VOLATILITY ON THE PERFORMANCE OF INSURANCE SECTOR IN NIGERIA

Raji, Oladeinde Akeem&Adejuwon, EmmanuelOlatunji

Department of Insurance

Federal Polytechnic Ilaro, Ogun State

Email:akeemraji02@yahoo.com&adejuwonolatunji95@gmail.com

ABSTRACT

This study was undertaken to complement the recent unprecedented global focus on Micro, Small and Medium Enterprises (MSMEs) as key agents of socio-economic development, by examining the impact of the natureand quality of the recordkeeping practices of micro enterprises (MEs) on their performance,via a survey of 127 firms in Jos metropolis. The resulting data, collected through a structured set of questionnaires, were analysed using Pearson Correlation Coefficient and Regression Analysis, with the outcome of a strong relationship between the nature and quality of records kept by this category of firms and their performance in terms of growth in sales, profit and capital. However, subjecting the data to regression analysis shows only quality of record keeping significantly impacting performance, hence the recommendations for improved quality of record-keeping for ease of assessment of their profitability, access to funding and aiding  informed business decision making that will enhance performance.

Keywords: Bookkeeping, Micro enterprises, Performance,Recordkeeping, Small and medium enterprises.