An Evaluation of Financial Management Practices in Nigerian Non-Governmental Organizations: A Case Study of ActionAid Nigeria
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Background of the Study
Non-governmental organizations (NGOs) play a critical role in addressing social, economic, and environmental issues in Nigeria. Effective financial management is essential for NGOs to achieve their objectives, maintain donor confidence, and ensure long-term sustainability (Adeola & Usman, 2024).
ActionAid Nigeria, a prominent NGO, implements numerous development projects across the country. Its financial management practices, including budgeting, reporting, and internal controls, are vital for resource allocation and operational efficiency (Eze & Okonkwo, 2023). This study evaluates the financial management practices of ActionAid Nigeria and their implications for organizational performance.
Statement of the Problem
Nigerian NGOs face challenges in financial management, such as inadequate budgeting, poor accountability, and limited adherence to international standards. These issues undermine their effectiveness and can lead to loss of donor confidence (Usman & Ibrahim, 2023). ActionAid Nigeria serves as a case study to understand and address these challenges.
Objectives of the Study
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To evaluate the financial management practices of ActionAid Nigeria.
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To identify challenges in financial management among Nigerian NGOs.
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To propose strategies for improving financial management in NGOs.
Research Questions
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What are the financial management practices of ActionAid Nigeria?
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What challenges do Nigerian NGOs face in managing their finances?
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What strategies can improve financial management practices in Nigerian NGOs?
Research Hypotheses
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H₀₁: Financial management practices do not significantly influence organizational performance in ActionAid Nigeria.
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H₀₂: Challenges in financial management do not significantly impact the effectiveness of Nigerian NGOs.
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H₀₃: Proposed strategies do not significantly improve financial management practices in Nigerian NGOs.
Scope and Limitations of the Study
This study focuses on ActionAid Nigeria, analyzing its financial management practices and challenges. Limitations include restricted access to confidential financial data and variability in practices across different NGOs.
Definitions of Terms
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Financial Management: The process of planning, organizing, and controlling financial resources.
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Non-Governmental Organization (NGO): A nonprofit entity that operates independently of government control.
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Donor Confidence: Trust placed by donors in an organization’s ability to manage funds effectively.
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