APRA Ends  34th Annual  Conference In Zambia With A Call Practitioners To Promote Creative Industry In Africa

The African Public Relations Association (APRA) recently ended its 34th  Annual Conference in Lusaka, Capital of  Zambia with a clarion call to African Public Relations (PR) Practitioners to leverage on rich African cultural heritage  to promote creative industry in the continent.                           

While delivering his address during  the Conference which  theme  was tagged “Creative Africa: Exploring the PR Potentials of Africa as an Emerging Economic and Reputation Powerhouse”, the immediate past  President of APRA Mr  Yomi Badejo Okusanya,  whose tenure of office expired on 19 May 2023  stated that Africa is endowed  with enormous potentials which have enabled her to  attain economic growth and development, even as the world’s fastest-growing continent.       

In order to consolidate this status quo, Mr Okusanya pointed out that PR Practitioners in the continent must strive to harness the  potentials,  availing themselves  the ample  opportunity  to promote Africa’s growth and development on the world stage.

According to him, in the current  rapidly  changing world, PR  has never been more important ;adding that  the world is undergoing  unprecedented challenges,  climate change, economic uncertainty, social and political upheaval.

In this regard,  Mr Okusanya posited that  effective PR  has a vital role to play in helping individuals, organizations, and governments to communicate effectively, build trust, and navigate complex issues.

He further explained that the creative industry is one of Africa’s fastest-growing sectors, and it makes a significant contribution to the continent’s economy. “The African creative industry is vast and diverse, encompassing music, film, television, fashion, art, and other disciplines”, he said.

Mr Okusanya also  hinted that a report by UNCTAD revealed  that  Africa’s creative industry generated $49 billion in revenue in 2018, with an annual growth rate of 14.2%.                               Continuing, he emphasized that the creative industry employs millions of Africans, with an estimated 2.4 million people working in the industry in South Africa alone. In his words,
“One of the most significant contributors to the African creative industry is the music industry.  African music industry was worth $68 million in 2018 and $83 million in 2022″.                           

This expansion, he said  can be attributed to the growing global popularity of African music, as well as the rise of digital streaming platforms, which have made it easier for artists to distribute their music and reach a wider audience. The former APRA President  gave assurance that as  the industry expands, more job opportunities and economic growth for the continent are expected.      
 
  Mr Okusanya  used the forum to remind African PR  professionals of their   unique opportunity to showcase the many strengths of Africa, from her  dynamic business environment to her  rich cultural heritage. He therefore  thanked         
the Zambian President who represented at the occasion  by the Zambian  Minister of Information and Media, Mr Cushi Kasanda for supporting the hosting of the conference in Zambia. Also,  he commended members of the Association for supporting him throughout his tenure in office and urged them to accord same support to any of the members who eventually emerges as the  elected  incoming APRA President.

Other keynote speakers at the conference included President International Public Relations Association (IPRA), Anne-Gret Hurriaga Abarzua; President Global Alliance for Public Relations and Communication, Justin Green; President Zambia Institute of Public Relations and Communication (ZIPRC).

As part of activities mapped out  to commemorate   the Conference,  lectures on topical PR practices, Zambian cultural and fashion displays, award night for distinguished  APRA members and prominent  creative industries in Africa,  a visit to  popular tourists attraction  centre,  ‘Living Stone’ in the suburb of Zambia amongst other events  were organized for the benefit of the participants.                       Delegates from Nigeria, Ghana, Kenya, Malawi, Zimbabwe, Mauritius, Uganda, Sierra Leone, Cote’ de–voire , South Africa, Tanzania, Gambia, Ireland, Caribbean Island and host country, Zambia  attended the conference. The venue for APRA 35th Conference slated to hold in 2024 is Cote’ de- voire.

Pakistani Peacekeepers Receive UN Medals

Abyei, 21 May 2023 –Pakistani Battalion (PAKBATT) 1 serving with the United Nations Interim Force for Abyei (UNISFA), were today decorated with UN peacekeeping medals in recognition of their meritorious service to the people of Abyei. Addressing the peacekeepers, UNISFA Acting Head of Mission/Force Commander, Major General Benjamin
Olufemi Sawyerr applauded officers and soldiers of the Pakistani Battalion for continually serving with resilience and unwavering mettle in UNISFA despite the vulnerabilities and challenges of climatic conditions in Abyei Box.

General Sawyerr also commended the Pakistani
Contingent Commander, Lt. Col. Abdul Manan and his Battalion for the Professionalism and dedication exhibited in the implementation of UNISFA’s mandate and for bringing peace and stability to their area of responsibility.

The feat could not have been possible without your dynamic leadership qualities coupled
with the resilience and determination of an equally motivated and well-trained troop under your command, he said, adding that even during the time when your battalion was without full complement of its strength and COE, your resourcefulness ensured your troops
performed efficiently and wholeheartedly.

The Ag. Head of Mission commended the Battalion for their ability to pacify and mediate a riotous situation in Diffra oil field, curbing illegal weapons trafficking in the Abyei Box and embarking on creative CIMIC activities
that have helped win the hearts and minds of the locals positively towards UNISFA.

In his remarks, the Pakistani Battalion Commander of UNISFA, Lt Col Abdul Manan Thanks for Ag. Head of Mission/Force Commander for good leadership and for
believing in him by giving him the opportunity to contribute to the mission’s mandate implementation. He presented the Acting Head of Mission and Force Commander with the Battalion’s coveted regimental colour. The Regimental Colour according to Col. Manan, is the best gift he and his entire troops can give
to a senior officer who has led the mission with such leadership qualities and mentorship.
General Sawyer said the colour was a rare and privileged gift which he will forever cherished.
The Medal Parade was attended by the Deputy Force Commander, Brig. Gen Abu Syed Mohammod Bakir Senior Management Leaders of UNISFA, Sector Commanders, Force Headquarters staff officers, Contingent Commanders, Military and Police officers.

JUST IN: US Trade Council In Partners Decency Pan-African Youth Empowerment Initiative, set to Host Int’l Investment Summit In US October 18

Have you been searching for an avenue to exhibit and tell the international Community what your firms/business/organization are into, stop searching, the US Trade Council in partnership with an international Non Governmental Organization, Decency Pan-African Youth Empowerment Initiative, (DPYEI), is organising another series of US-Africa Trade & Investment Global Summit aimed at Promoting International business between Africa & USA.

This would be an avenue to meet GLOBAL investors and high profile business moguls across the world.

The summit with the theme: “Harnessing Strategic U.S-Africa Partnership To Explore Global Market Share”.

The International investment summit would hold between 18 and 21st October, 2023 at the Holiday Inn & Suits Atlanta, GA, USA.

The organisers urged participants, business men/ women, Investors and scholars to register for the 6th edition of US-Africa Trade & Investment Global Summit (Promote International business between Africa & USA) on time.

According to a statement from the summit’s secretariat, Registration fee covers breakfast, lunch and dinner throughout the duration of the 3 day conference.

Interested persons should email the organisers @ ella4decency@gmail.com or send information on WhatsApp for inquiry & registration: +2349010665592.

There are also opportunity to advertise your products in official magazine and the website of the event at a fee. Interested business ventures and organizations are to get in touch via the email address already provided.

Honourable Tajudeen Abass: The Capable hand for the job

Before we deft into the Ninth assembly and the scorecard of each and every legislator as it basically affects those returning and vying for the position of presiding officers, it is of utmost importance to refresh our minds on what the legislature is and what basic role a legislator is elected to perform.

A legislature is an assembly with the authority to make laws for a political entity such as a country or city. They are often contrasted with the executive and judicial powers of government.

The legislature also exist to checkmate the activities of the Executive and even the Judiciary.
Laws enacted by legislatures are usually known as primary legislation. In addition, legislatures may observe and steer governing actions, with authority to amend the budget involved.

The members of a legislature are called legislators. In a democracy, legislators are most commonly popularly elected by the people of either senatorial districts or constituencies.

While legislatures have nominally the sole power to create laws, the substantive extent of this power depends on details of the political system. In Nigeria, the size and the structure of Bi Camera legislature has made it a rigorous task to get laws passed concurrently in both chambers of the parliament and also the critical aspect of the law passed depend on the president who is the head of the executive, he the president asserts his signature on the bill for it to become law and it does not end there in some cases the implementation of the law is in the hand and the prerogative of the executives, these are all the hurdles to be scaled before a law comes into being.

Looking at the ninth assembly critically from the perspective of law making, it is expedient to us to note a critical point in the political life of the country. The politics of the country is so dynamic and complex that only laws that will have direct visible impact on the lives of the people and whatever they represent will help quench the raging fire of agitation from so many minority groups whose notion is that governance and the government is not being fair to them in all ramifications. Also bringing institutions to the doorstep of these ethnic minorities will also go along way in solving the problem of agitations and the claim of injustice.

In the past, community that were privileged to have government institutions established in their domain seems to take advantage of it to assert authority on such institutions by being the major beneficiaries.

Just like developed countries where the tenure of the legislators are unlimited unlike the other arms of government, in Nigeria, we are not able to tap into the benefit of this idea by those that formulated the democracy that we practice, the whole idea of allowing legislators to represent their constituents as many times as possible is to entrench stability in the political system. In Europe and America, the older legislators grows in the parliament the more experienced they become, and Nigeria is not suppose to be an exemption.
Looking at the performance index of all legislators in the Night assembly, both in the senate and the house of representatives, there is no gainsaying about the facts and figures available that, Honourable Tajudeen Abass may have surpassed the expectation of not only his constituents, but Nigerians as a whole and this is evident in the number of bills as presented and sponsored, number of bills passed and number of bills assented to by the president.
Honourable Tajudeen Abbass will likely be compared to Senator Amy Klobuchar and American congressman (a Minnesota Democrat) with 27 bill which is the highest number of bills passed into law in the United State by any lawmaker in the present congress.
On his part Honourable Tajudeen Abbass hold the ace in Nigeria as the best legislator in the Ninth assembly and no wonder his people gave him their mandate again without stress. Looking at his antecedent, Honourable Tajudeen Abbass deserves to be the next speaker of the house of representatives in order to guide incoming legislators coming to the tenth assembly for utmost performance. What else can a parliamentarian do for not only his people but for Nigerians as a whole, a parliamentarian with the highest number of sponsored bills from 2011 till date, (72 in total) in the ninth assembly the highest number of sponsored bills,(more than 20) and the highest number of bills passed and signed into law by the president (21 bills) the bill are bills that gave birth to institutions not only in the northern part of the country but across the length and breadth of the country, for example bills establishing 18 Federal Medical Centers across the country was sponsored by him.
The success of any nation in any sector depends on the people put forward to preside over it, be it economy, politics, science and technology e.t.c. the choice of leaders is a major determinant of the success to be recorded, putting our best in the forth coming parliament regardless our various biases will be our greatest strength as a people at this moment, if we must compete with other nations of the world.
Honourable Tajudeen Abbass is undoubtedly our best hand as a nation for the speakership position of the incoming 10th House of representatives if we must experience the great and working Nigeria that we all crave for.

Comr. Haruna Okatahi
Convener conference of Civil Society for Transparency and Accountability
Writes from Abuja.

UNESCO Laureate marries out daughter good at Koran Memorizing

The Vice-Chancellor Crown University Int’l Chartered Inc., USA with its teaching hospital campus situated at Santa Cruz Province, Argentina, South South America, and other partner constituents campuses at government-regulated universities worldwide and online operation,
Prof Sir Bashiru Aremu, has given out virgin daughter, Maryam Aremuola for marriage to the family of Dr. Adewale Tiamiyyu.

The marriage between Taofeek Adeyemi Tiamiyyu and Hafizoh(Complete Koran Memorizer) Maryam Aremuola was held on the 6th of May, 2023 at the Ahmadiya Muslim Jama’at Mosque Off Iwo-Ibadan Expressway behind Baskay Hotel Odo Ori Iwo Osun State-Nigeria.

The fathers of the day, Alh. Aderemi Oyekola and Alh. ABD-Fatai Akinbade while speaking lauded the couple’s efforts for doing the right thing according to the Islamic Marriage rights as they charged them to continue to love each other and ensure sincere concern for each other.

Also speaking at the event, the Royal fathers of the day, HRM Oba Abdulazeez Olatunbosun Adebamiji, and HRM Oba Sikirullahi Akinropo, Representative of Emir Damaturu Yobe State Nigeria, tasked the couples on being open to one another and respect each other and always be careful in keeping and walking according to Islam and its rights especially as written in the holy book (Qur’an)

The father of the bride, Prof. Bashiru Aremu while addressing the media during the reception thanked Allah to have made the day a huge success as he explained that this is one of the days he wouldn’t forget in a hurry pointing outing that his daughter gonna make him proud in the marriage that she has just entered into.

While expressing optimism, Aremu cautioned the couples not to be ignorant of the devices of the enemies but to remain resolute in prayers always and always work in agreement and mutuality.

Coalition of Tinubu political groups led by Hon. Aminu Aminu vows to monitor performance of elective and political appointees

Grassroots Mobilization For Asiwaju 2023 (GMA) political Group Jigawa state chapter has put a yardstick to monitor the performance of any political appointee and people elected under the platform of APC to ensure no one betrayed the confidence of electorate.

The chairman of the group Comrade Aminu Aminu made the remarks during a dinner and award presentation organized in honour of some personalities who contributed in mobilizing grassroot support, and the victory of president elect Mr Ahmad Bola Tinibu.

He said, the group has vowed to ensure only people of competency and those with common man at heart are appointed to help in running the Jigawa state and federal government led- APC Governments.

“We will put eyes on everyone under the platform of our party, any appointee who fails to perform averagely and reciprocate to his constituancy we will rise alarm, called for his removal and replacement with capable hand”

“We went round all over Jigawa state mobilizing people to vote for APC candidates at all levels, they accepted and gave APC overwhelming victory in the state, now it is time for us to stand and ensure the electorates are not let down” Aminu declared

In his speech during the dinner the Jigawa state governor elect Malam Umar Namadii commended the group for their contribution to APC victory in the last general election and promised to work hand in hands with them for fulfilling all the campaign promises they made.

Also in his remarks, the senator elect for Jigawa Northwest district Senator Babangida Husaini, described the group as a reliable political partners who demonstrated high-level of selfless commitment dictation and sacrifice for APC victory and democratic development in Jigawa state and Nigeria.

Those presented with award of honour at the dinner include : Jigawa state governor Muhammad Badaru Abubakar, Governor Elect Malam Umar Namadi, DG NITDA Mr Kasifu Inuwa Abdullahi, Hon Sakina Garba, Dr Umar Tanko Yakasai ,. Alhaji Abdullahi Haruna Mai Karfe, Alhaji Suleman Dauda, H E Gbanga Olawepo Hashim and Comrade Aisha Ya’u Abdullahi, Folashade Tinubu.

First Indian Varsity In Africa Appoints UNESCO Laureate As Member, Board Of Governing Council

UNESCO Laureate, and Vice-Chancellor Crown University Int’l Chartered Inc., Prof Sir Bashiru Aremu, has been appointed as Member, Board of Governing Council Mewar International University…

UNESCO Laureate, and Vice-Chancellor Crown University Int’l Chartered Inc., Prof Sir Bashiru Aremu, has been appointed as Member, Board of Governing Council Mewar International University of Nigeria (MIUN).

MIUN which is the first Indian University in Africa, Nigeria is located along Keffi-Abuja Road.

This was contained in a press statement personally signed by Aremu on Tuesday and made available to journalists in by his Assistant on Media, Publicity and Communication Matters, Comrade Sir Bieni Victor Emenike.

Aremu in the statement while reacting to his appointment said: “I must sincerely thank the management of MIUN, Abuja for this great honor done to me, my appointment by the great, reputable international University as a member Board of Governing Council. I commend the VC, The BOT Chairman for this great honor”.

“I promise to work towards ensuring the well-being of the Council, promote improved policies, framework of governance, management, sustainability, corporate strategy, monitor institutional and executive performance and other responsibilities from time as may be assigned by the council. God bless the management of MIUN, Abuja Nigeria”

Workers’ Day: Hon. Ajaka  felicitates with Kogi Workers, says better days just ahead

By Usman Aliyu



A Kogi State  leading governorship aspirant, Hon. Murtala Yakubu Ajaka has  commemorated with workers as they join other workers globally as they celebrate international workers Day.


Hon. Murtala Yakubu Ajaka in a message he signed  today said despite the trying times in the country which has stretched to Kogi State  occasioned by the incessant cases of non payment of salaries and arrears, death of workers, insecurity and other economic challenges,  there is much to remember about the sacrifices made by Kogi workers to remain committed hoping for a better day.

Hon. Ajaka who further emphasize his appreciation to all the workers at all levels both in the private and public sector  said; “I want to salute your dedication and patriotic services over the years for always giving your best to your work irrespective of the challenges that abound. In the course of this, we have lost valuable colleagues due to lack of salaries and arrears, lost our children due to lack of funds for basic amenities but you have kept hope that better days and better leaders with human sympathy will head the affairs of our dear state one day.

“That time has come and we will keep our fingers crossed as we see how things unfold in the coming days but never give up on praying for a better Kogi”

While wishing workers a spirit filled celebration, he charged them to be proud of their work, called for more dedication and patriotism saying the challenges of the moment will soon be over.
“Indeed, myself, the state and Nigerians are proud of you as the activities of workers have added value socially and economically with the hope that we will continue to sustain this commitment”.

Part 3: Moderating Effect Of Firm Size On Shareholding Structures And Financial Performance Of Qouted Commercial Banks In Nigeria- By Wada Moses and Edogbanya, Adejoh Ph.D.

From the result on table 7 above, shows that firm size has a significant positive moderating effect on firm performance measured by ROA with a t-statistic of 3.47 and a p-value of 0.000 (significant at 1% level) which is different from the result obtained in model I where in the direct relationship with ROA, block-holder ownership has an insignificant negative effect. Based on the decision rule, hypothesis four (Ho4) is rejected.

4.4 Discussion of Findings
Result from Table 6 above shows that block-holder ownership has an insignificant negative effect on firm performance with a coefficient of -0.0211, a t-statistic of-1.28 and a p-value of 0.224. This finding implies that if all other variables are held constant, a unit increase in the number of block-holder ownership of Nigerian quoted commercial banks leads to an insignificant reduction in firm performance. This finding disagrees with those of Hussain et al. (2018), Ahmed and Hadi (2017) and Citak (2011) who reported that block-holder ownership has a significant effect on firm performance.

Table 7 above shows that firm size has a significant positive moderating effect on block-holder ownership and firm performance of Nigerian quoted commercial banks with a coefficient of 0.0024, a t-statistic of 3.47 and a p-value of 0.000. This finding disagrees with that in Model I where the direct relationship of block-holder with firm performance revealed an insignificant effect.

6 Conclusion and Recommendations
Block-holder ownership in the Nigerian quoted commercial banks is a factor that reduces firm
performance due largely to the overbearing influence these set of owners could have on the
management because of the large size of their investment. Firm size is a significant moderating
variable when the relationship between block-holder ownership firm performance measured by return on asset. Based on the findings of the study, the following recommendations are made.
i) Block-holder ownership should not be encouraged in the Nigerian commercial banks as the more the block-holder, the less will the performance be leading the negative albeit insignificant effect on firm performance.
ii) Firm size should be employed when the effect of block-holder ownership on firm performance measured by return on asset is be moderated by a third variable as it has a significant moderating effect.
REFERENCES
Abel, E. E., & Okafor, F. O. (2010). Local corporate ownership and capital structure decisions in Nigeria: A developing country perspective. Corporate Governance, 10(3), 249-260.
Adamu, A., & Haruna, J. (2020). Ownership structures and firm performance in Nigeria: A canonical correlation analysis. Journal of Research in Emerging, 2(4), 23-32. https://doi.org/10.30585/jrems.v2i4.537.
Al-Amarneh, A. (2014). Corporate governance, ownership structure and bank performance in
Jordan. International Journal of Economics and Finance, 6(6), 192-202. URL: http://dx.doi.org/10.5539/ijef.v6n6p192.
Aribaba, F. O., Asenuga, B. S., & Egbewole, I. K. (2022). Ownership structure and financial performance of quoted building material firms in Nigeria. Fuoye Journal of Management, Innovation and Entrepreneurship, 1(1), 269-281.
Aymen, B. M. M. (2014). Impact of ownership structure on financial performance of banks: Case of Tunisia. Journal of Applied Finance and Banking, 4(2), 163-182.
Bansal, C. L. (2005). Corporate governance: Law practice and procedures with case studies. New Delhi. Taxmann Allied Service (P) Ltd.
Citak, L. (2011). The impact of ownership structure on company performance; A panel data analysis on Istanbul Stock Exchange Listed (ISE-100) Companies. Journal of Financial Markets Research, 1(2), 34-46.
Dakhlallh, M. M., Rashid, N., Amalina, W., Abdullah, W., & Dakhlallh, A. M. (2021). Ownership structure and firm performance: Evidence from Jordan. Journal of Contemporary Issues in Business and Government, 27(2), 79-90.
Edogbanya, A. &Kamardin H. (2016) company Reporting Transparency and firm Performance in Nigeria. Asian pacific Journal of advanced research 1(7), 1-12.
Etale, L. M., & Yalah, Y. (2022). Ownership structure and firm performance of listed consumer goods sector firms in Nigeria. International Journal of Development and Economic Sustainability 10(1), 1-12. https://doi.org/10.37745/ijdes.13.
Fazlzadeh, A., Hendi, A. T., &Mahboubi, K. (2011). The examination of the effect of ownership structure on firm performance in listed firms of Tehran stock exchange based on the type of the industry. International Journal of Business and Management, 6(3), 249-266.
Financial Reporting Council (2018). Nigerian Code of Corporate Governance.
Hansmann, H. (2000). The Ownership of Enterprise. The Belknap Press of Harvard University Press. England. (11-12).
Holderness, C. G. (2009). The myth of diffuse ownership in the United States. Review of Financial studies, 22(4), 1377- 1408. http://dx.doi.org/10.1093/rfs/hhm069.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the business: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics 13(1), 305-360.
Jinadu, O., Uwuigbe, U., Uwuigbe, O. R., Asiriuwa, O., Eriabie, S., Opeyemi, A. & Osiregbemhe, I. S. (2018). Ownership structure and corporate performance of multinational banks: Evidence from Nigeria. Academy of Strategic Management Journal, 17(5), 1-11.
Kiruri, R. M. (2013). The effects of ownership structure on bank profitability in Kenya. European Journal of Management Sciences and Economics, 1(2), 116-127.
Khrawish, H. A. (2011). Determinants of commercial banks performance: Evidence from
Jordan. International Research Journal of Finance and Economics, 5(5), 19-45.
Ogabo, B., Ogar, G., & Nuipoko, T. (2021). Ownership structure and firm performance: the role of managerial and institutional ownership: Evidence from the UK. American Journal of Industrial and Business Management, 11(7), 1-16.
Ogega, D. O. (2014). The effect of ownership structure on the financial Performance of commercial banks in Kenya. A research project presented in partial fulfilment of the Requirement for award of Master of Science in finance, University of Nairobi.
Ohiani, D. L., Eniola, S. A., & Lateef, O. M. (2018). Effect of ownership structure on financial performance of listed financial firms in Nigeria. Journal of Accounting, Finance and Auditing Studies 4(3), 123-148.
Ozili, P. K & Uadiale, O. (2017). Ownership concentration and bank profitability. Future Business Journal, 3(1), 159–171.
Nguyen, H. S., Tu, T. T. T., Cuong, D. X., Ngoc, L. A., &Khanh, P. B. (2015). Impact of ownership structure and bank performance: An empirical test in Vietnamese banks. International Journal of Financial Research, 6(4), 123-133.
Thomas, T. K., & John, T. K. (2022). Ownership structure and corporate financial performance in emerging market: panel data analysis from listed firms in Kenya. African Journal of Education, Science and Technology, 7(1), 294-301.

Part 2: Moderating Effect Of Firm Size On Shareholding Structures And Financial Performance Of Qouted Commercial Banks In Nigeria- By Wada Moses and Edogbanya, Adejoh Ph.D.

Al-Amarneh (2014) investigates effect of ownership structure and corporate governance on bank performance (profitability and operating efficiency). The specific objectives of the study were to establish the effect of block-holder ownership and foreign ownership profitability. The study relied much on publicly available data for a sample of the thirteen listed banks in Jordan for the years 2000 to 2012. The study has shown that ownership concentration (block-holders) has a positive and significant effect of bank performance (profitability) while foreign ownership positively affects the bank performance (operating efficiency). The study recommends that good corporate governance standards are imperative to every bank and important to investors and other stakeholders.

2.4 Gap in Literature
The introduction of a third variable as a moderator of the relationship between shareholding structure represented by block-holders and financial performance measured by returns on assets is the widest gap this study fills in literature as a result of the dearth of previous studies that used a moderator.

3 Methodology
This study uses ex-post facto research design because the data are historical in nature having been generated through past corporate activities. The population of the study consist of all the ten (10) commercial banks quoted on the Nigerian Exchange Group (NGX) as of 31st December 2021. The sample size of this study comprises of all the ten (10) commercial banks quoted in Nigeria for 10 years from 2011- 2020 with respect to block-holder ownership and return on asset (ROA) using the Census sampling techniques. The data for this study were sourced from the financial statements of the 10 commercial banks obtainable from their websites. The data were analysed using Descriptive statistics, Correlation coefficients, Shapiro-Wilk normality test for the distribution pattern of the ser and Robust multiple regression to test the null hypotheses formulated. The panel regression will be used because of its BEST linear estimation characteristics.

Model Specification
The study adopts a bi-model approach for clarity. The dependent variable for the study is financial performance proxied by return on asset (ROA), while the independent variables which is ownership structure is represented by block-holder ownership. The specified linear equation for model I as used by Kiruri (2013) is expressed as follows:
ROA= f(BLKOWN)
Econometrically, the above equation is represented as:
ROAit =αo + α1BLKOWNit + μ it …………………………………… Model (I).
The second model which involves the moderating effect of firm size is linearly presented as follows:
ROAit =αo + α1BLKOWNit + α2Frmsz*BLKOWNit + μit ………………Model (II)
Where:
ROA= a predictor representing return on asset (a proxy for financial performance);
αo = a constant;
BLKOWN = a predictor representing block-holder ownership (a proxy for independent variable)
µ = Error term (Residual)
i-firm
t=period and
f = a Functional relationship.

Variable Measurement and Justification.
Table 1 below defines the variables of this study.

Variable Acronym Type Measurement Justification

Return on ROA Dependent Net profit divided by Adamu and Haruna (2020), Ahmed
Asset total assets of the banks et al. (2017) and Ogega (2014).

Block-holder BLKOWN Independent Percentage of shareholders Etale and Yalah (2022), Aribaba et
Ownership holding 5% and above al. (2022) and Kinuri (2013).
Controlling shares.
Firm Size FRMSZ Moderating Logarithm od total assets. Edogbanya and Kamardin (2016).
Source: Researcher’s compilation, 202
4 Results and Discussion
Descriptive Statistics
Table 2 below shows the descriptive statistics of the variables used in this study which summarises the distributional patters of the model.
Table 2 Descriptive Statistics
variable | Obs Mean Std. Dev. Min Max
ROA 100 0.0076 0.0376 -0.2424 0.1064
BLKOWN 100 0.4057 0.2418 0 0.8932
L_FRMSZ 100 9.0503 0.4148 8.1788 9.7916

Source: STATA 13 software output, 2023.
[
Table 2 above reveals that return on asset (ROA) has a low mean value of 0.008 and a standard deviation of o.038 with a negative minimum value of -0.2424 and a maximum of 0.1064. Block-holder ownership and foreign ownership have minimum values of zero (0) which means that some of the banks has no block owners and foreign owners at some points. The standard deviation which depicts the extent of dispersion show that ROA and BLKOWN were more widely dispersed having standard deviations which are greater than their means. However, firm size has a standard deviation of 0.4148 that is less than the mean (9.0503) which implies that firm size was less widely dispersed around its means.

Correlation Matrix
Table 3 below shows the results of the Pearson correlation conducted to determine the presence or otherwise of multicollinearity among the independent variables of the model. The decision rule is to accept the presence of multicollinearity is a pair or more of the independent variables correlate above 0.85 or reject the presence of multicollinearity if no pair of the independent variables correlate above 0.85.
Table 3 Pearson Correlation
ROA BLKOWN L_FRMSZ
ROA 1.0000
BLKOWN -0.1629 1.0000
L_FRMSZ 0.2906 -0.4781 1.0000
Source: STATA 13 software output, 2023.
Results from Table 3 above reveals that the independent variables did not correlate above 0.85 as the highest positive correlation of 0.2906 exist between firm size and ROA. From the decision rule, since no pair of the independent variables correlate above 0.85, there is no multicollinearity in the model specified. Multicollinearity has the potential of over estimating the coefficient of determination.
Residual Test for Normality Test
Table 4 below presents the results of the normality test for the model residuals using the Shapiro-Wilk test for normal data. The decision rule is to recognize that the residuals were normally distributed if the model has a p-value higher than the critical 0.05, or that the residuals were not normally distributed if the p-value of the model is lower than or equal to 0.05.
Table 4 Shapiro-Wilk Normality Test
Variable | Obs W V z Prob>z
residuals | 100 0.9638 2.993 2.432 0.0075
Source: STATA 13 software output, 2023.
Table 4. above indicates that the model has a p-value of 0.0078 that is lower than the critical value of 0.05 which implies based on the decision rule the residuals were not normally distributed. This result implies that the estimation of the models cannot be carried out with the aid of ordinary least square (OLS) regression as one of the basic assumption of OLS that requires normality of distribution has been violated. The models were estimated with robust regression which is most suitable for unusual data (abnormal distributed data) because robust regression is less susceptive to the behavior of such anomalies.

4.2.4 Heteroskedasticity Test
Table 5 below is the result of the heteroskedasticy test conducted with the aid of Breusch-Pagan / Cook-Weisberg test to determine the stability of the residual variance of the variables in the model. The decision rule is to accept the null hypothesis that residual has constant variance if the model has a p-value higher than 0.05 or reject the hypothesis if the p-value is lower than or equals to 0.05.
Table 5Heteroskedasticy Test

Breusch-Pagan / Cook-Weisberg test Variables: fitted values of roa
Ho: Constant variance
chi2(1) = 65.66
Prob > chi2 = 0.0852
Source: STATA 13 software output, 2023.
Table 5 above shows that the model has a p-value of 0.0852 which is higher than the critical value of 0.05 signifying that, based on the decision rule, the model residuals with constant variance and so the null hypothesis is accepted.

4.2.5 Regression Analysis (Model I)
Table 6 below presents the regression analysis of model I which captures effect of the independent variables on the dependent variables with the moderating variable in a direct relationship. The analysis was conducted with the aid of robust regression. The results from this model were used to test hypothesis 1.
Table 6 Regression Analysis of Model I
Robust
roa Coef. Std. Err. z P>|z| BLKOWN -0.0211 0.0174 -1.28 0.224 L_FRMSZ 0.0257 0.0103 2.52 0.002 _cons -0.0207 0.0156 -1.37 0.215

R-sqd overall = 0.3318
Wald chi2(4) = 322.63
Prob > chi2 = 0.000
Source: STATA 13 software output, 2023.
Table 6 above reveals that the model has a coefficient of determination of 33 which means that the independent variable and the moderating variable namely BLKOWN and FRMSZ jointly have approximately 33% effect on the firm performance of the sampled commercial banks in Nigeria from 2011-2020. The model also has a Wald chi2 and p-value of 322.63 and 0.000 indicating that it is fit and results obtained were not by chance

Regression Analysis (Model II)
The regression analysis which tests both the direct relationship without moderation and the indirect relationships between the independent variables and the dependent variable moderated by firm size using the robust regression method. The result from the indirect moderated relationship was used to test hypothesis 2.

Table 7 Regression Analysis (Model II) Robust

roa | Coef. Std. Err. z P>|z|

BLKOWN -0.2254 0.2852 -0.79 0.429
L_FRMSZ_BLKOWN 0.0024 0.0022 3.47 0.000
_cons 0.0093 0.0058 1.60 0.111
R-sqd overall 0.2582
Wald chi2 = 601.21
Prob chi2 = 0.0000
Source: STATA 13 software output, 2023.
Table 7 above shows that the model has an R-squared overall which represents the coefficient of determination of 0.2582 which means that the combine effect of the BLKOWN both in its free-state and moderated form on firm performance of Nigerian quoted commercial banks is approximately 26%. The model displays a Wald chi2 of 601.21 and prob chi2 of 0.000 indicating that the model is fit.

5 Test of Hypotheses
T
he decision rule here is that if the calculated p-value is lower than or equals to the critical value of 0.05, the null hypothesis formulated should be rejected or if the calculated p-value is higher than the critical p-value of 0.05, the hypothesis should be accepted.

Ho1: There is no significance effect between block-holder ownership and firm performance
of quoted commercial banks in Nigeria.
From the result on table 6 above, block-holder ownership has an insignificant negative (-1.28) effect on firm performance of Nigerian quoted commercial banks measured by return on asset (ROA) with a p-value of 0,224 which is higher than the critical p-value of 0.05. Based on the decision rule, the null hypothesis one (Ho1) is accepted and the alternate hypothesis rejected.

Ho2: Firm Size has no significant moderating effect on block-holder ownership and firm performance of quoted commercial banks in Nigeria.