NAIRA SWAP OBJECTIVES AND IMPACT ON THE PERFORMANCE OF SMALL AND MEDIUM SCALE ENTERPRISE SMES

Authors

  • Kparobo Gloria Aroghene Department of Banking and Finance Delta State University, Abraka, Nigeria.
  • Gregory AkpobomeAkpoyibo (PhD) Department of Business Administration Delta State University, Abraka, Delta State, Nigeria.

DOI:

https://doi.org/10.51594/ijmer.v5i4.469

Abstract

In other to determine the impact of the of the naira swap objectives by the CBN on the economy, the study explore the naira swap objectives on the performance of SMEs in Delta State, Nigeria. Descriptive research design was used for the study. The research population consists of all 3,976 registered SMEs with the Delta State office of Small &Medium Enterprises Development Agency of Nigeria. (SMEDAN).Upon the application of the sample size formula the sample size stood approximately at 363. Primary data was obtained through the administration of 5 likert scale questionnaire .of which only 300(83%) were duly filled and returned. Tables, simple percentage and frequency count was useto analysed data while the Pearson Product Moment Correlation was use to confirm the stated hypotheses via statistical package for social sciences (SPSS) version 22. From the tested hypotheses the objective of curbing naira hoarding and restraining counterfeiting had a strong positive significant impact on the performance of SMEs in Delta State while the objective of curtailing inflationary pressure appeared to have weak negative impact on the performance of SMEs in Delta State. Built on the findings the study recommend that government should set up an agency that will assess the working capital requirement of SMEs in Delta State and make such funds available to them to facilitate their operations. The government should also ensure effectiveness of both monetary and fiscal policies to create an enabling environment for SMEs.

Keywords: SMEs, Performance, Naira-swap, Currency-Counterfeiting.

Published

2023-04-22

Issue

Section

Articles