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JOURNAL OF SOCIAL SCIENCES (JSS) Vol. 2 No. 2. December, 2018 Published by Faculty of Social Sciences National Open University of Nigeria, University Village, Plot 91, Cadastral Zone, Abuja, Nigeria ISSN 2579-0838 Copyright @ 2018 FSS. All right reserved. No part of this publication may be reproduced, stored, transmitted or disseminated in any form, without prior permission request to the Publisher. Authority is granted to individual to photocopy copyright materials for purpose of academic research. Printed by: Uniabuja Press Address: University of Abuja, Gwagwalada, FCT JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 EDITORIAL COMMITTEE EDITOR-IN-CHIEF Assoc. Prof. Dr. Ganiyat A. Adesina Uthman ,acma,mnes,fce, fifp Department of Economics, National Open University of Nigeria ASSOCIATE EDITORS Prof. Dimis I. Mai-Laifia Department of Economics, University of Jos Prof. Mercy Ada Anyiwe Department of Economics, University of Benin Assoc. Prof. Dr. Ibrahim Bakare Department of Economics, Lagos State University Dr. Oyebode Oyebamiji Department of Political Science, National Open University of Nigeria Dr. Ojo Mathew Department of Political Science, National Open University of Nigeria Dr. Abdul-Lateef Adelakun Department of Mass Communication, National Open University of Nigeria {ii} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 ASSISTANT EDITOR Dr. Ebele Udeoji Department of Political Science, National Open University of Nigeria JOURNAL SECRETARY Dr. Emmanuel I. Ajudua Department of Economics, National Open University of Nigeria Mrs. Antonia Hafunjoh Okonye Department of Political Science, National Open University of Nigeria JOURNAL BUSINESS MANAGER Mr. Samuel Olusanya Department of Political Science, National Open University of Nigeria {iii} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 EDITORIAL ADVISORY BOARD Prof. Kabir Hassan New Orleans University, U.S.A Prof. Sheriffdeen A. Tella Olabisi Onabanjo University, Nigeria Prof. Anthony A. Akinola Oxford University, United Kingdom Prof. Abdallah Uba Adamu National Open University of Nigeria Prof. Risikat Dauda University of Lagos Prof. Abiodun S. Bankole University of Ibadan Prof. Shehu Abdallah Federal Capital Territory {iv} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 THE EDITORIAL The Journal of Faculty of Social Sciences, National Open University of Nigeria (NOUN) is a bi-annual peer reviewed journal published by Faculty of Social Sciences, NOUN. The objectives of the journal is to establish a symbiosis among scholars, state and society by providing purpose-driven research as a template for the formulation of problem-solving policies in response to the myriad national and international integration and development challenges. JSS-NOUN is an offshore peer review journal published two times in a year by the Faculty of Social Sciences-NOUN. Notes to Contributors The journal operates a double blind reviewing process; it accepts original articles from fields of Social Sciences and other related fields that have not been submitted anywhere else for publication. Manuscript Submission Guides The language of the journal is English Font size is 12-point type in Time New Romans with double line space Manuscript SHOULD NOT be more than 5000 words. {v} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 Tables and Figures must be numbered serially, titled and must be inserted under the text explaining them Topic should not be more than 20 words, written in 14 point font, at the Centre of A4 paper. Author(s)’ name(s) should be written in same font as topic; should be in the centre with email and phone number of the Author. In case of 2 or more Authors, the Corresponding Author should be identified. The journal style of referencing is APA, 6th Edition Authors should submit softcopy of articles as MS-Word document electronically to [email protected]. Final paper after review process should be submitted to [email protected] {vi} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 TABLE OF CONTENT Effect of Financial Liberalisation on Macroeconomic Convergence Variables in the West Africa Monetary Zone- Page 2 Tunde Abubakar BAKARE-AREMU, PhD Conflict Transformation and Peace Building in Divided Homogeneous Communities: A Case Study of Ife and Modakeke- Page 57 Basil IBEBUNJO, PhD and Samuel Opeyemi IROYE, PhD Tax Incentives and Industrial Development in Nigeria- Page 89 Emmanuel Ifeanyi AJUDUA, PhD and Davis OJIMA, PhD Poverty and Inequalities Nexus: A Comparative Study of Nigeria and Ghana- Page 117 Samuel Olumuyiwa OLUSANYA Usage of Electronic Banking Services and Customer Satisfaction in Lagos State, Nigeria- Page 157 Jameelah O. YAQUB, PhD and Anthonia T. ODELEYE, PhD {vii} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 Nollywood to Onlinewood: Issues on Film Censorship and National Security in Nigeria- Page 193 Lateef Adekunle ADELAKUN, PhD Islamic Leadership Model and the Burden of Terrorism and Leadership in Nigeria: Issues, Myths and Realities-Page 231 Ibrahim Olatunde UTHMAN, PhD, FIPMD Positive or Negative Reinforcement of Staffs’ Behaviour towards Achievement of University Vision, Mission and Objectives: Which Works Better?-Page 269 Aminu Kazeem IBRAHIM, PhD Yoruba Muslim Youths and the Problems of Identity in the Midst of Diversity-Page 296 Mikail Kolawole ABDULSALAM and Jamilah Adenike ADEOGUN Role of the Mass Media in Community Development in Nigeria:A Study of Ushafa and Amaigbo Communities-Page 328 Josephine OBIAJULU and Daniel Ewomazino AKPO Employability of Journalism Graduates of Open and Distance Learning (ODL) Institutions: A Tracer Study of National Open University of Nigeria Graduates (2009-2014)-Page 370 Chidinma Henrietta ONWUBERE, Ph.D, LL.B {viii} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 {1} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 Effect of Financial Liberalisation on Macroeconomic Convergence Variables in the West Africa Monetary Zone Tunde Abubakar BAKARE-AREMU, PhD Department of Economics Faculty of Social Sciences National Open University, Jabi, Abuja. Email: [email protected] Abstract his research study examines the effect of financial liberalization policy on the prospect of attainment of key Tmacroeconomic convergence criteria required for the commencement of West Africa Monetary zone (WAMZ). Achieving these WAMZ's global convergence criteria ex-ante policy coordination by member states have however proved difficult. This study examines the influence of financial liberalisation policy on the likelihood of achieving these criteria without prior policy coordination within the zone using descriptive and panel data techniques on data which spanned the period 2001 to 2015.The study revealed that lack of policy coordination within the zone had an adverse effect on financial liberalisation policy as regards its effects {2} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 on the WAMZ area macroeconomic convergence variables possibly due to the asymmetrical policy thrust. The study concludes that there might not be any reasonable macroeconomic convergence without policy coordination and that financial liberalisation policy is a key factor to reckon with for a successful WAMZ. JEL Classification: C13; C33; F33; G14 Keywords: Financial Liberalisation, Macroeconomic Convergence Variables, Panel Data Analysis, West Africa Monetary Zone 1 INTRODUCTION Developing nations have lately witnessed an increase in international capital and investment flows occasioned by the implementation of financial liberalisation policies. Major drivers of these flows are globalisation and financial market liberalisation which allow investors to seek higher rate of returns and have the opportunity to diversify risk globally (Nwaogwugwu, 2012). Nations that adopted financial liberalisation policies encourage inflows of capital through dismantling of restrictions and controls (regulations) on foreign capital flows. It also entails domestic financial markets deregulation in order to improve their economic prospects through the adoption of market-driven economic systems. According to Diamond (1984); and Bakare-Aremu (2018) {3} JOURNAL OF SOCIAL SCIENCES (JSS) – Vol. 2. No.2 December, 2018 Obstfield (1994); financial liberalisation promotes access to international capital inflows which allows recipient economies to smooth both investment and consumption, especially in a situation of adverse shocks. Ram (2009) identified the key elements of financial liberalisation to be: deregulation of interest rate; removal of credit control; privatisation of government banks and financial institutions; removal of restrictions on entry of private sector and/or foreign banks and financial institutions into domestic financial markets; introduction of market based instruments of monetary control; and capital account liberalisation In West Africa, almost all the countries embarked on financial liberalization with the adoption of Structural Adjustment Programmes (SAPs) in the mid 1980s. In particular, all West Africa Monetary Zone (WAMZ) countries adopted financial liberalisation policy, and thus implemented market reforms and liberalisation as part of SAPs. Five of the six countries in WAMZ adopted and commenced the Structural Adjustment Programme in 1986, while Liberia had begun two years earlier. The Gambia and Guinea adopted the programmes in bits. In the Gambia, it was known as Structural Adjustment Loan One and Two (SAL I & SAL II),