M. Sc. Finance

List of Academic Staff

Name	Status and Qualification	Research Interests
A. A. Abdurraheem	Senior Lecturer & Ag. Head of Department B.Sc. (Ibadan); M.Sc. (Ago- Iwoye); Ph.D. (UUM, Malaysia); FCA	Banking, Risk Management, Financial Management, Islamic Banking and Finance
M. A. Ijaiya	Professor B.Sc., M.Sc. (BUK, Kano); Ph.D. (Ilorin)	Microfinance and Rural Finance Management, International Finance
I. B. Abdullahi	Professor B.Sc. (Ilorin); M.Sc. (BUK, Kano); Ph.D. (Ilorin)	Corporate Finance, Banking Theory and Practice
M. A. Ajayi	Reader B.Sc. (EKSU, Ekiti); MBA, M.Sc., Ph.D. (Ilorin)	Microfinance, Lending and Financial Administration
Rihanat. I. Abdulkadir	Reader B.Sc., MBA (Ilorin); M.Sc. (BUK, Kano); Ph.D. (UUM Malaysia); FCIB	Corporate Finance, Practice of Banking, Financial Market
Oyebola. F. Etudaiye- Muhtar	Senior Lecturer B.Sc., MBA (Ilorin), M.Sc., Ph.D. (Malaya Malaysia); HICB	Corporate Finance, Development Finance, Banking
A. T. Jimoh	Lecturer I B.Sc., M.Sc., Ph.D. (Ilorin)	Islamic Finance and Banking, Corporate Finance
Biliqees. A. Abdulmumin	Lecturer I B.Sc., M.Sc. (Ilorin); Ph.D. (KWASU, Malete); ACIB; ACS	Development Finance, International Finance, Microfinance
*A. Jimoh	Professor B.Sc. (ABU, Zaria); M. A. (Queens, Belfast); Ph.D. (OAU, Ile-Ife)	International Finance, Applied Econometrics, Banking and Finance
*Sidikat L. Adeyemi	Professor B.Sc., MBA (ABU, Zaria); Ph.D. (Ilorin)	Strategic Management, Operations Management
*J. O. Adeoti	Professor B.Sc. (ABU, Zaria); MBA, M.Sc., Ph.D. (Ilorin)	Finance and Marketing
*Umar Gunu	Professor B.Sc. (UDUS, Sokoto); MBA, M.Sc., Ph.D. (Ilorin)	General Management Human Resources Management, Entrepreneurship and Business Policy

*A. S. Kasum	Professor B.Sc. (BUK, Kano); M.Sc., Ph.D. (Ilorin); ACA	Taxation, Management Accounting, Auditing and Public Accounting
*Olubunmi F. Osemene	Professor B.Sc. (OAU,Ile-Ife); MBA (LAUTECH, Ogbomoso); M.Sc., Ph.D. (Ilorin); ACA	Cost Accounting, Tax and Management Accounting, Small Scale Business
*T. A. Olaniyi	Professor B.Sc., M.Sc., Ph. D. (Ilorin); ACA	Management Accounting, Financial Management, Quantitative Techniques
*Khadijat A. Yahaya	Reader B.Sc. (BUK, Kano); M.Sc., PGDE, Ph.D. (Ilorin); ACA	Financial Accounting Auditing and Taxation
*A. A. Kilishi	Reader B.Sc.,(Ilorin); M.Sc., Ph.D. (Ibadan)	International Economics, Econometrics.

*Lecturers from other departments

B. Introduction

The programme is designed to meet the manpower needs of the country. The knowledge acquired should enhance the graduates‘ prospects of gaining employment not only in the banking and finance sector but also in other sectors of the economy.

C. Philosophy

The philosophy of the programme is designed at producing postgraduate students with adequate theoretical and practical knowledge sufficient to enhance their research capability to prepare them for academic positions in universities and other tertiary institutions and, develop their capability to undertake in-depth postgraduate research in any of the core areas of the discipline, as well as challenges in the private and public sectors of the economy.

D. Aim and Objectives

The aim of the programme is to broaden and deepen the intellectual exposure of students in core banking and finance courses and produce manpower needs for both private and public sectors of the economy.

Objectives:

train and develop prospective academics and researchers and analysts by broadening the intellectual and research capabilities of the students;
produce skilled manpower in teaching and research careers in the field of Accounting, Banking and Finance; and
develop critical thinking skills in logical reasoning and critical analysis and improving the capacity of students in formulating and implementing sound financial policies and strategies.

E. Admission Requirements

The candidates are required to possess the following:

Five ―O‖ Level Credits passes or its equivalent subjects including English Language, Mathematics, Economics and any other two from Accounting, Business Methods, Commerce, Government, Geography and Statistics SSCE or its equivalent.
Bachelor degree with at least Second Class Lower Division in Banking and/or Finance, or other related areas such as Accounting and Economics from University of Ilorin or any other recognised university.
All prospective candidates must take qualifying examination conducted by the Department of Finance of the University and pass at a minimum score of 55 percent (55%). Only graduates of University of Ilorin who obtained First Class or Second Class Upper Division are exempted from writing the qualifying examination. However, the latter category of candidates is required to present themselves for interview sessions to be conducted by the Department and score a minimum of 55 percent (55%).

F. Duration of the Programme

i. The full-time programme shall run for a minimum of 18 calendar months and a maximum of 24 calendar months.

ii. The part-time programme shall run for a minimum of 24 calendar months and a maximum of 36 calendar months.

G. Detailed Course Description

FIN 801 Corporate Finance 3 Credits

Nature of the firm and corporate objectives. Implementation of the firms‘ goals for choice among alternative investment projects. Market evaluation of non-assets under uncertainty and implication for capital budgeting. Analysis and illustration with problems of alternative investment criteria. Alternative approaches to value of the firm and the cost of capital. Corporate financial problems. 45h (T); C

FIN 802 Theory of Financial Intermediation 2 Credits

Financial markets concepts and theories, emphasizing the role, structure and activities of financial intermediaries. The dynamic pattern of financial flows. Uses, sources of funds. Models of the process of financial intermediation and the theory of the banking firm. The crucial role of interest rate and structure of interest rate. 30h (T); C

FIN 803 Management of Financial Institutions 2 Credits

Financial management of banks and other financial institutions. Management decision making problems. Financial firm as having goals of maximising returns on assets. Constraints of the funds model. Maintenance of solvency. Capital adequacy problem and demands of the regulatory authorities. 30h (T); C

FIN 805 Financial Planning and Control 2 Credits

Basic concepts and analytical tools essential for financial decision making. Understanding of the market environment in which the firm operate. Possible topics include the concepts of organization goals and the selection and preparation of information essential to financial planning and control of firms‘ operations such as cost estimation and analysis. 30h (T); E

FIN 807 Quantitative Techniques for Financial Decision 2 Credits

The focus of the course will be more of application rather than of the theory per se. It covers descriptive statistics, probability and expectations, discrete and continuous distributions, and statistical decision theory, study of estimation, tests of hypotheses and confidence intervals. Time series Analysis, Index Number with applications in finance, multiple regression, including correlation analysis. Also it includes inventory, forecasting, queuing models, analysis of variance, use of computer as a tool, emphasized with application to finance. 30h (T); C

FIN 808 Small Business and Agricultural Finance 2 Credits

Financial management problems of small business and the agribusiness in the economy. Discusses the acquisition and use of capital by small and agricultural business. Supply and demand for funds in this sector of the economy are extensively discussed. Financial analysis relating to income, repayments of capital and risk management leasing. 30h (T); E

FIN 809 Investment Analysis and Portfolio Management 2 Credits

Portfolio selection as a problem of constrained utility maximization under conditions of uncertainty; Discussion of the different markets, along empirical evidence for validity of the theory; activities involved in making selection among alternative financial assets from the viewpoints of individuals and institutional investors. Efficient market theory for the profitability of alternative investment. 30h (T); C

FIN 810 International Business Finance 2 Credits

International financial system. International banking and financial market: foreign exchange risks and management practices by international businesses. Euro banks and Euro-financing methods in international trade. International financial management. Capital budgeting. Project fiancé. Transfer pricing by multinational corporations. Foreign direct investment guarantee and investment codes. 30h (T); E

FIN 814 Derivative Securities and Markets 2 Credits

Rapid and extreme development in financial services industry demand that graduates in finance be exposed to financial innovations in recent years. Course in derivatives and markets. Concepts. Types. Operations regulatory framework of financial derivatives markets. Traded options: futures/future contracts forwards, swaps, derivatives exchanges and traded systems. 30h (T); E

FIN 816 Micro and Small Business Finance 2 Credits

Microcredit and financial problems of small business in the economy. Sources. Acquisition and use of capital by small businesses. Financial analysis relating to income: repayment of capital and risk management, leasing and other finance alternatives. Role of small business in the economy and required government assistance. 30h (T); E

FIN 8I8 Public Sector Financial Management 2 Credits

Estimation and control of government expenditure and the raising of revenue. Estimation of expenditure. Authorisation of expenditure and accounting processes for planning public expenditure. Efficiency of government expenditure. Objective functions of government expenditure. Planning programme, budgeting system and other budgeting systems as approaches to cost effectiveness. Appraisal of government expenditure. 30h (T); E

FIN 820 International Banking and Finance 2 Credits

Overview of the global financial system foreign exchange markets, national banking, and financial markets. Euro-banks and euro financing. International trade financing. International financial institutions and financial integration in ECOWAS and Africa. Problems of developing countries in the international financial system; external borrowing, debt and debt servicing problems. Foreign aid and foreign direct investment; and international trade. Payments and financial issues in the context of the changing global financial developments. 30h(T); E

FIN 822 Bank Lending and Loan Administration 2 Credits

Basic of lending and credit administration. It covers topics in bank credit organizations, the lending environment, and financial statements analysis. Others are sectorial forms of lending, consumer lending and credit administration. 30h (T); E

FIN 824 Marketing of Financial Services 2 Credits

The nature, characteristics and consequences of financial services, need for products to be marketed in a special way. Application of marketing concepts: functions, strategies and techniques for efficient provision of banking financial services. 30h (T); E

FIN 826 Financial Institutions and Markets 2 Credits

Overview of the financial system, embracing banks, non-bank financial institutions. Money and capital markets and the regulatory authorities: central bank, securities and exchange commission, stock exchange. Survey of the structure and operation of the market of short, medium and long term securities. Other topics includes overview of the nature, types, sources and uses of term securities as well as the nature, objectives, structure, functions, and practices of institutions. 30h (T); E

FIN 828 Regulation of Financial Institutions 2 Credits

An advanced treatment of fiscal and monetary policy issues; in respect of economic stabilization measures. The instruments and targets of fiscal and monetary policies and theory impacts on macroeconomic aggregates including unemployment, income levels, inflation, etc. Regulatory institutions in domestic and international economic environment such as the CBN, NDIC/FDIC, IMF, etc. 30h (T); C

FIN 833 Seminar in Finance 3 Credits

This seminar introduces students to the most recent research in the area of finance and investment, examining current issues and trends. Students have an opportunity to present and discuss their own research and actively engage in the analysis and discussion of the work of others. Each student is expected to make at least one presentation during the course, focusing on the formulation, design, execution, and results of his/her research. 90h (P); C

FIN 834 Basic Econometrics 2 Credits

Topics to be covered include: the study of the specification of econometric models in economics and finance theory, stochastic disturbances, and the link between conceptual variables and observable economic data are combined. Estimation of single equation linear; non-linear models by least squares (OLS) and other methods. Estimation of time-series models and simultaneous equation models. Particular attention is given to specifications of problems and errors, and the application of the various tools to aid analysis in finance. 30h(T); C

FIN 863 Research Methodology 2 Credits

Basic concepts in scientific enquiry. Areas of scientific research. Research strategy and model construction. Theories, laws and hypothesis. Research design. Choosing a research topic. Literature review. Model building. The research proposal. Sampling techniques. Data collection techniques. Data types. Measurement and analysis of data. Ethics in research. 30h (T);.C

FIN 899 Dissertation 6 Credits

Student will present final thesis to the board of examiners consisting the head of department, postgraduate coordinator, internal examiner from related department and the external examiner. 270h (T); C

Graduation requirements

Graduation Requirements: Students must have taken and passed both the core and the elective courses with a score of not less than 50% comprising 30 credits of compulsory courses and 8 credits of electives. Students must also have presented and defended one seminar paper to the satisfaction of a panel of internal examiners. The final dissertation must have been assessed and found satisfactory for the award of M. Sc. Degree by a panel of four including an external examiner.
I. Summary Compulsory Courses

FIN 801 (3); FIN 802 (2); FIN 803 (2); FIN 807 (2); FIN 809 (2); FIN 828 (2); FIN 833 (3); FIN

834 (2); FIN 863 (2); FIN 899 (6); ECN 852(2); ECN 853 (2) =30 Credits

Electives Courses

FIN 805 (2); FIN 808 (2); FIN 810 (2); FIN 814 (2); FIN 816 (2); FIN 818 (2); FIN 820 (2); FIN

822 (2); FIN 824 (2); FIN 826 (2) Minimum of 8 credits

TOTAL 38 Credits

Details of ECN courses are available in the host departments.

M. Sc. Finance

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