Madonna University, Okija Campus

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Dr. Okuma N. Camillus, PhD

Dr. of Banking and Finance


Dr. Okuma, N. Camillus is from Ihiala in Ihiala Local Government Area of
Anambra State, Nigeria. He possesses OND (Upper Credit) from Federal
Polytechnic Oko, B.Sc (second class upper) from UNN, MBA from Nnamdi
Azikiwe University, Awka, Anambra State. Dr. Okuma N.C got his Ph.D in
banking and finance in 2018 from Chukwuemeka Odumegwu Ojukwu University,
Igbariam, Anambra State. His first working experience was at UBA PLC
Calabar branch where he worked as a Youth Corp member in 1999 and
immediately after the service he joined academics and precisely with
Madonna University as a graduate Assistant Lecturer in department of
banking and finance in 2001. In 2003, he was promoted to Assistant
Lecturer, in 2010 he was promoted to Lecturer 1and in 2018 to Senior
Lecturer in Banking and Finance Department. Some of his administrative
experience in the university are, Head of the Department of Banking and
Finance from 2013 to 2016, member, Standing Committee on Time Table from
2013 to 2015. Dr. Okuma, N.C was also made the coordinator of Post
Graduate Program and departmental PG Board secretary, both in 2018 and
he holds these positions till date. Madonna University Nigeria came into
active operation in 1999 as the first private University in Nigeria and
the first Catholic University in West Africa, the University since
after its inception has remain a pace setter not only for private
Universities but also for the government owned institutions and this is
based on its Motto “Decency in Education and Morals” Dr. Okuma”s long
stay with this unique institution is never by chance rather it is
because of his hard work and dedication to his responsibilities. He was
giving a LONG SERVICE MERITORIOUS AWARD in 2009 by the Madonna
University Alumni Association (MUAA). He is a disciplined academia, an
erudite scholar who is interested in research and he works
conscientiously. Above all, he is a christian with catholic faith.

Current Position

Senior Lecturer, Madonna University, Nigeria, Okija Campus.

Professional Education

  • OND, Banking and Finance, Fed. Poly. Oko, 1995
  • B.Sc, Banking and Finance, UNN, 1999
  • MBA, Banking and Finance, Nnamdi Azikiwe University, Awka, 2006
  • Ph.D, Banking and Finance, Chukwuemeka Odumegwu Ojukwu University, Igbariam

Time at the University

  • 2001 - 2003: Graduate Assistant; Banking and Finance, Madonna University, Okija Campus
  • 2003 - 2010: Assistant Lecturer; Banking and Finance, Madonna University, Okija Campus
  • 2010 - 2018: Lecturer 1; Banking and Finance, Madonna University, Okija Campus
  • 2018 - Till date: Senior Lecturer; Banking and Finance, Madonna University, Okija Campus

Courses Taught

  • Mathematic of Finance (BKF 313)
  • Research Methodology (BKF 373)
  • Introduction to Statistics (STA 201)
  • Banking Laws and Regulations (BKF 414)
  • Money and Banking (ACC 324)


Effects Of Financial Inclusion On The Growth Of Cottage Firms In Nigeria

of the financial problems of cottage industries in developing nations
are traced to financial exclusion of the financial arrangements of some
smaller economic units, groups or sectors of the economy. This study
therefore sought to examine the effects of financial inclusion on the
growth of cottage industries in Nigeria: (1995-2017). The ex-post facto
research design was employed. Annual time series covering 1995 to 2017
obtained from CBN Statistical Bulletin of 2017 and African Statistical
Yearbook 2017. Statistical tools of Unit Root Test, Engle-Granger
Co-integration Test and Error Correction Model Test were employed in
analyzing the collected data. The P-values of ECM regression indicated
that the ACGSF and SMEL, are having positive contribution and
statistically not significant in explaining the changes in the growth of
cottage industries in Nigeria, SMED has negative contribution and not
significant in explaining the changes in the dependent variable, while
MFLA has a positive contribution and significant effect in explaining
the changes in the growth of cottage industries in Nigeria. Thus, the
result of prob.(F-statistics) 0.08975 shows that the financial inclusion
has no significant effect on the growth of cottage industries in
Nigeria within the period of the study. The researcher amongst others
recommends promotion and encouragement of financial sector deepening,
establishments of youths development fund, cottage industries
development fund, restructuring and monitoring of Agricultural credit
guarantee scheme fund by the government and policy makers.


study examined the effect of Insurance sector reforms on poverty
reduction in Nigeria. To be specific, the study appraised the effect of
Insurance industry investments in financial assets on per Capita income
in Nigeria. The study covered a period of 12 years i.e. 2004-2015. The
data for the study were sourced from Central Bank of Nigeria Statistical
bulletin and National Bureau of Statistics yearbooks, Nigerian Insurers
Association publications among others. The application of descriptive
statistics and regression analysis were considered suitable for the
study. The findings of the sturdy revealed that the insurance industry
investment in financial assets has negative and significant impact on
poverty Reduction in Nigeria. It is therefore recommended that the
compulsory insurance stipulated by the Insurance Act should be properly
marketed and publicized as it will lead to generation of funds for
economic development which will in turn lead to poverty reduction within
the economy.