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INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES OCTOBER, 2021 VOLUME 1, ISSUE 1, 2021 A PUBLICATION OF INSTITUTE OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES AVAILABLE AT: www.ijamps.com MANAGED ONLINE BY: Softwork Education Technology

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Editor-in-Chief Prof. Dr. Christopher Oyat; Dept of Development Studies, Gulu University, Gulu City, Uganda Deputy Editor Prof. Abiodun Amuda-Kannike; Dean Faculty of Law, Kwara State University, Malete, Kwara State, Nigeria Managing Editor Prof. Eze Chidi Nwauba; Director, School of Part-time Studies, Legacy University, Okija, Anambra State, Nigeria Editorial Secretary Dr. Ola Olusegun Oyedele; Dept of Business Enterprise Management, Federal University of Agriculture, Abeokuta, Ogun State, Nigeria Associate Editor Dr. Charles O. Manasseh; Dept of Banking and Finance, University of Nigeria, Enugu Campus, Enugu State, Nigeria Editorial Reviewers Dr. Wahid Damilola Olanipekun Dept of management and Information Technology, American International University, Gambia Dr. Olayiwola Idris Senior Doctoral Fellow, KwaZulu-Natal University, South Africa Dr. Obanla Adebayo Bankole Dept of Human Resources Management, ICON University of Science and Technology, Republic of Benin

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Prof. Ode Emmanuel Egbe Professor of Forensic Economics and Restorative Justice, Dept of Economics, Edexcel University, Republic of Benin Prof. Joseph Olusola Aina Professor of Business and Western Orthodox, Director of Academic Studies, Western Orthodox University, Florida, USA Prof. Amani Danjuma Peniel Professor of Educational Management, Dept of Educational Administration, Libral Bilingual University of Togo (IBLT), Togo Prof. Dr. Atapia O. Atapia Professor of Religious Education and Theological Studies, Department of Religious Education, Tennessee Christian University, Tennessee, USA Rev. Prof. Justice Chidi Professor of Psychology, Department of Psychology, Crystal Galaxy University College of Aviation, Ghana Rev. Prof. Adeleke Daniel Durojaiye Professor of Theology and Christian Education, Dept of Theology, Triune Biblical University GE, USA Dr. Ishola Kabiru Genty Dept of Industrial Relations & Personnel Management, Lagos State University, Lagos State, Nigeria

Associate Prof. Kaigama A. Dio INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Associate Professor of Religious Studies, Department of Religious Studies, Prowess University, Delaware, USA Prof. A. R. Bankole Professor of Human Resources and Employment Relationship, Dept of Industrial Relations & Personnel Management, Lagos State University Ojo, Lagos State, Nigeria Dr. Joakim Abiodun HOD, Business Administration, Dept. of Business Administration College of Management Sciences, Federal University of Agriculture, Abeokuta, Ogun State, Nigeria Prof. Omotayo Oyeniyi Professor of Marketing and Management Sciences, Dept. of Marketing, Lagos State University, Ojo, Lagos State, Nigeria Prof. Kehinde O. Olusegun Professor of Accounting, Dept. of Accounting, Western Ville University, California, USA Dr. Obizue Mirian A Reader/Facilitator, Dept. of Education, National Open University of Nigeria, NOUN, Owerri Campus, Imo State, Nigeria Prof. Otu O. Eyong Professor of Educational Administration and Planning, Dept. of Educational Administration and Planning, Coal City University, Enugu State, Nigeria

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com SUBMISSION GUIDELINES: - The paper must be original, scholarly and current; - The paper must be typed in double line spacing on A4 size paper and not more than fifteen pages excluding tables, figures, references and appendices - The contributor must be consistent in the use of the latest editions of M.L.A, APA, or Chicago styles. - All papers must be submitted in Microsoft Word format (by e-mail or CD). - All Papers should be processed using the Times New Roman style with font size 12 - Submitted manuscript must be in Microsoft Word document file format in compliance with the following format: Abstract, Introduction, Literature Review, Data and Methodology, Findings, Conclusion and Recommendations, References. - References should follow the American Psychological Association (APA) 5th edition style. - Names of authors with their affiliations/phone number and e-mail address should be separated from the main work. (IJAMPS) invites researchers with original articles, written in clear and grammatically correct English in any of the following thematic areas or other related areas in Arts Management and Professional Studies: • Corporate Entrepreneurship/Intrapreneurship • Entrepreneurial marketing, Leadership and Management • History and International Relations • Entrepreneurship and Ethics • Business Ethics and Corporate Social Responsibility • Theatre and Film Studies

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com • Family Owned Business Sustainability • Law • Government Policy on Business and Entrepreneurship • Human Resources Management • Industrial Relations and Conflict Management Processes • Technology • Educational Management and Planning • Corporate Governance in Public and Private Organization • Business funding and Accountability • Political Science • English and Literary Studies • Policy and Political Environmental Studies • Mass Communication • Rural Sociology and Work processes • Religious Studies • Self-employment among immigrants • Economics • Psychology • Small Business Management and Venture Creation • Social Entrepreneurship • Arts Management • Health Management • Sustainable Entrepreneurship and Small and Growing Business • Technology/Digital Entrepreneurship • Venture Creation and Funding • Women in Entrepreneurship

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com CONTRIBUTORS ARE REQUESTED TO ADDRESS ALL CORESPONDENCE AND MANUSCRIPT TO: The Editor-in-Chief (Prof. Dr. Christopher Oyat)[email protected] The Managing Editor (Prof. Eze C. Nwauba)[email protected] The Editorial Secretary (Dr. Ola OlusegunOyedele) [email protected] Editorial Office: School of Part-time and Advanced Basic Studies, Legacy University, Okija, P.M.B 03 Ihiala, Anambra State, Nigeria. [email protected] +2348132422444, +2347011597964, +23409124673109 Publishing Address:Institute of Arts Management &Professional Studies (IAMPS) 12 WAAST Avenue (34 Item Street), Off Ikenegbu Layout, Opposite Access (Diamond) Bank, Owerri, Imo [email protected] +2347011597964, +23409124673109 THE EDITOR’S DESK International Journal of Arts Management and Professional Studies (IJAMPS) is a multidisciplinary Print and Open Access peer-reviewed International Journal published quarterly by the Institute of Arts Management and Professional Studies; A Professional Management and Research Training Institute recognized by the Federal Ministry of Education, Nigeria and registered with the Corporate Affairs Commission (CAC) under the Federal Republic of Nigeria CAM Act No. RC1329612. 1990; domiciled in the School of Part-Time and Advanced Basic Studies of Legacy University Okija, Nigeria; and accredited by The International Organization for Standardization (ISO) with ISO

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com number is NG682640, Euro-American Joint Accreditation Services (EA-JAS), World Safety Organization (WSO) with accreditation number: #024548, Chartered Institute of Arts Management & Professionals, USA (CIAP), National Association of Public Health practitioners Council of Nigeria (NAPHPCON) and Recognition, Accreditation and Charter Council (RACC) with Status number: RACC/RCS-7085. ETHICS OF PUBLICATION IJAMPS is dedicated to following ethics in publication and quality of articles. Hence, conformity to standards or ethical behavior is therefore anticipated from authors in particular. Authors: A fraudulent or knowingly incorrect statement represents unethical behavior and is unwelcome. Reviewed works should also be objective, all-encompassing, and accurate accounts of the state of the art. The authors should check that they have written original works entirely, and where the authors have used the comments and/or words of others, this has to be befittingly cited or quoted. Plagiarism in all its forms represents unethical publishing behaviour and it is condemned. Presenting the same written material to more than one journal at the same time also constitutes unethical publishing behaviour and is intolerable. Authors must not present articles describing essentially the same work to more than one journal. The corresponding author should insist that there is a full agreement of all co-authors in approving the final version of the paper and its presentation for publication. When an author discovers a fundamental error or inaccuracy in his/her own published research, it is the author’s responsibility to quickly inform the journal editor or publisher and cooperate with the editor to retract or correct the paper. Meanwhile, authors are liable to any plagiarism issue arising after the publication of their articles; editors will not be liable to any form litigation when such plagiarism issue occurs.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Twitter Ban in Nigeria: The Aftermath Effect Eze Chidi Nwauba Director, School of Part-time Studies, Legacy University, Okija, Nigeria [email protected] Abstract This seminar paper focused on the recent Twitter Ban in Nigeria and the aftermath effect. It aimed at discussing the impact of the Twitter ban on the socioeconomic of the nation. It also took a sneak peek into the legality of the ban and how businesses are thriving after the ban. Sources of resource materials for the seminar paper were primary and secondary. The paper concluded by stating better ways the Federal Government can handle the issues of social media abuse. Introduction In the wake of June 5, 2021, the Federal government of Nigeria placed a ban on Twitter, micro-blogging platform. When the President Muhammadu Buhari-led administration first announced that it was placing a temporary ban on Twitter, it was the subject of ‘cruise and light banter’ for many Nigerian tweeps (Twitter users). However, months after the ban, Nigerians seem to have moved on. The reality that the government was standing by its decision dawned on Nigerian when by midnight of June 5, the estimated 40 million Nigerian users of Twitter (The NOI Polls stated that 2 out of 10 internet users in Nigeria (over 39 million have a Twitter account) could not access their accounts. The ban came shortly three hours after the government issued the announcement. The official Twitter handle of the Ministry of Information and Culture had cited unspecified activities on the social media platform that were deemed “capable of undermining Nigeria’s corporate existence.” Many tweeps were quick to relate the ban

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com as not being unconnected to the platform’s decision to take down a tweet by the Nigerian president. President Buhari, a former Brigade Major in the Nigerian civil war while warning secessionists few days before the ban had wrote in part, “Many of those misbehaving today are too young to be aware of the destruction and loss of lives that occurred during the Nigerian Civil War. Those of us in the fields for 30 months, who went through the war, will treat them in the language they understand,” causing an uproar on the platform. Having suffered the effects of the civil war from 1967 to 1970, the Igbo tribe of southeastern Nigeria as well as think-tanks, accused the president of posting a “genocidal statement” and called for a report of the tweet for abuse, which was effected immediately. Apart from deleting the tweet, the president’s account was left in a “read-only mode” for 12 hours. Days after, Nigeria announced a temporary ban and subsequently announced that the ban was indefinite. Unrelenting, Nigerians have turned to the use of virtual private networks (VPNs) to continue to use the app with several voicing out their displeasure with the ‘hasty action of the government.’ There have been several opinions that the suspension is not only ‘unconstitutional’ but also a ‘childish tantrum’ by the government with Nigerians left to bear the brunt. Admittedly, although the ruling party rode to victory in the 2015 presidential election with help from social media, the government has been vocal about the need to regulate social media. The Minister of Information, Lai Mohammed has several times blamed “the siege of disinformation and fake news” on social media.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Based on the above, the seminar paper aimed at taking an overview on Twitter ban in Nigeria and the aftermath of the ban. It intends to bring to academic knowledge the socioeconomic effects of the Twitter on the nation. Twitter Ban in Nigeria: Issues and Facts First, according to Oduniyi (2021), the ban constitutes a gross abuse of office, as it elevates the personal interest of the President above that of the country and her citizens. The President is indeed NOT the state and disagreements over the personal terms he voluntarily entered with Twitter should not be allowed to threaten the public and national interest. Moreover, we are not aware of any law of the federation that allows the President or a Minister to whimsically deny Nigerians access to social media services of their choice. Secondly, the ban is a grave violation of the Constitution of the Federal Republic of Nigeria, which the trio of the President, the Minister of Information and the Minister of Justice swore to uphold. By infringing citizens’ fundamental right to the freedom of expression and association, it violates section 39 of the Constitution, while undermining the social and economic rights guaranteed Nigerian citizens by Chapter 11 of the Constitution. Denis (2021) Thirdly, the ban is a violation of and assault on a number of international, continental and regional instruments that Nigeria willingly subscribes to. Indeed, the ban clearly falls below their expectations of the realm of the rights and freedom that citizens should freely enjoy. Sunday (2021) Among these are the African Charter on Human and Peoples’ Rights and the Universal Declaration of Peoples and Human Rights. Pursuant to the provisions of the African

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Charter, Resolution 362 of 2016 of the African Commission on Human and Peoples Rights expressed concern at the practice by State Parties to the African Charter on Human and Peoples Rights, of “interrupting or limiting access to telecommunication services such as the Internet, social media and messaging services.” In specific terms, the African Commission adopted the Declaration of Principles on Freedom of Expression and Access to Information in Africa, Principle 38 (1) and (2) of which states that, “States shall not interfere with the right of individuals to seek, receive and impart information through any means of communication and digital technologies, through measures such as the removal, blocking or filtering of content, unless such interference is justifiable and compatible with international human rights law and standards.” And that “States shall not engage in or condone any disruption of access to the internet and other digital technologies for segments of the public or an entire population.” The UN Human Rights Council also has a subsisting resolution of July 2018 that demands the promotion, protection and enjoyment of human rights on the Internet. Fourthly, the ban constitutes an unwarranted attack on the corporate, business and professional interests of organizations and individuals legitimately managing their affairs on Twitter, including but not limited to the media, entrepreneurs, researchers, educational institutions, NGOs and CCSOs. As at the third quarter of 2020, Twitter accounted for 61.4 per cent of Internet users in Nigeria, coming after WhatsApp and Facebook messenger, according to ‘Statista’, while ‘Quora’ estimates the number to be about seven million. Even if the number of users is considerably less, it still does not justify a ban that is jeopardizing the means of business and social communication of citizens.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Fifthly, the ban further underscores the investor community’s growing concern over the unpredictability of the domestic policy environment. The consequences of a subsequent attenuation of investment for an economy whose recovery from the initial stages of the pandemic has been described as “fragile” are better imagined. In general, only a government that wants to shut itself from its own citizens would take the kind of bizarre step of banning a social media platform. The Aftermath of Twitter Ban in Nigeria The aftermath of Twitter ban in Nigeria is multidimensional. This is because the present generations have wrapped their lives around social media and this is the reality that stares us in the face. It would then be very difficult to separate social media of any kind from the people without any negative effect. This section centres on the socioeconomic effects of the Twitter ban in Nigeria. According Peter (2021), the economic impact of Twitter ban is one that has been enormous on Nigeria. Three days after the twitter ban in Nigeria, the A4AI (Alliance for Affordable Internet) put Nigeria’s economic loss at $1.2b. A watchdog organization, Net Blocks, also remarked that each hour of the Nigerian government’s decision cost $250,000 (N102.5 million), bringing the daily loss to N2.5 billion. Minus COVID-19’s impact on small and medium-scale enterprises (SMEs), the e-commerce market in three days lost an estimated $12 billion. Many Nigerian businesses and individuals rely on the use of Twitter to support their operations and hustle. Many employers use Twitter to promote their job openings while online vendors also promote their businesses and services on the platform.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com According to a report by FDI Intelligence in 2021, a specialist division of the Financial Times, in collaboration with research company Briter Bridges, Nigeria boasts of the largest number of startups in the Africa tech ecosystem and most of these startups use Twitter to attract investment. Digital marketers and online influencers have also complained bitterly about the harsh effects of the Twitter ban on their businesses. Potential digital marketer, Favour, was on the micro-blogging platform, Twitter, pleading that tweeps follow her so that she can be a part of the campaign. Like so many others on the platform looking to become a part of this industry, some clients require that marketers have a certain number of tweeps before they would be qualify for the job. A few days after several retweets, pleas and mentions were gathered to gather the number, the Nigerian government issued a statement on June 1. Jide (2021) posits that “I would be lying if I said it has not affected business. Ongoing campaigns got canceled, some were put on hold and even intending campaigns got canceled just like that. For someone like me, for example, where Twitter is my main strength, it has been tough.” His outcry is not exaggerated. For vendors, it is a harsh reality they are still trying to grapple with. Another social media vendor has been completely left jobless. There is also the internet security threat that many Nigerians are exposing themselves to by turning to the use of Virtual Private Networks (VPNs). Not only does the widespread use of VPNs to access Twitter come at a significant cost but there is an even higher price to pay for those who turn to free VPNs instead of fee-based ones that are more

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com secure. The free VPNs will expose the users to data theft and various forms of hacking. Ibanga (2021) In 2020, Nigeria overtook India as the poverty capital of the world, with about half of its population, 86.9 million people living in severe poverty. The same year, Nairametrics noted that 27.1% (about 21.7 million) Nigerians are unemployed, while the underemployment rate stands at 28.6%, leading to a total of 55.7%. It is not farfetched to state that many Nigerians will be turning to the use of free VPNs. Furthermore, digital media has become an essential tool for information exchange with many Nigerian tweeps relying on Twitter as their emergency hotline. A few months ago, Nigerian social media users were able to raise awareness about the kidnapping and murder of a job seeker IniubongUmoren in AkwaIbom using the tools of social media. Local and international attention has also been brought to issues affecting the people relying on social media as a medium of communication and information dissemination. For many, Twitter as well as other social media platforms has become the go to channels to obtain real-time updates and unfiltered information about events going on around the world. Ironically, even the Nigerian government relied on the use of Twitter to announce the controversial ban. The Legality of Twitter Ban in Nigeria The right to freedom of expression, like most other rights in Nigeria’s 1999 Constitution, is not absolute. The freedom of expression provisions of the constitution contains clauses which set out when the right can be derogated or restricted.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com First is the prevention of disclosure of information received in confidence, the maintenance of the authority and independence of courts, the regulation of telephony, wireless broadcasting, television or the exhibition of cinematograph films. The second is the imposition of restrictions on the freedom of expression of public office holders at the federal or state levels, members of the armed forces or Nigeria Police Force or other government security services or agencies established by law to keep official and state secrets. The reading of the permissible grounds for limitation contains no colour or shade of authority to ban Twitter in Nigeria. There is also the general limitation clause in section 45 of the Nigerian constitution. The section allows fundamental rights to be limited in the interest of defence, public safety, public order, public morality or public health. It also permits limitation of fundamental rights to protect the rights and freedom of other persons. This limitation must, however, be by “a law that is reasonably justifiable in a democratic society”. And it requires three conditions. First is the requirement of legality – there must be a law of general application authorizing the limitation. Second, is the requirement of proportionality. This means that the means or methods employed to limit rights must be proportionate to the objectives of the limitation. The third is one of necessity. That is the least restrictive or invasive means or methods must be employed to achieve the objectives of limitation.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com The Way Forward It is unclear at the time of writing this how long the government plans to uphold the ban, however, with the level of difficulties faced by Nigerian youths, it is imperative that the elephant in the room is addressed on time. Despite the Federal government’s proposition on a dialogue with Twitter, this idea has not gone down well with vendors who believe that their means of livelihood is on the brink of collapse. Jide says, “Twitter is a platform with its terms and conditions. I don’t think they are going to change those rules because of one country, so the intended meeting is just a waste of time.” Nduka (2020) states that “the government should lift the ban and leave it alone, any interference is weighing on our freedom of speech as citizens, which is against the democracy we practice in Nigeria.” Today, we are discussing the Twitter Ban, as the Minister of Information has threatened, it could be another social media application tomorrow. If indeed the country is an entity where “they can have business”, then, unless those at the helm of affairs see it as a tool that has created job opportunities, and a tool for expressing differing political views and opinions for the betterment of the country, we might make no headway with the dialogue. Our leaders need to understand the importance of new age applications and have passionate young Nigerians play active roles in leadership. That way, there is a balance of experience and knowledge. The damaging effect of the ban on the economy is not one to be swept under the rug. It is now a matter of urgency.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Conclusion There is certain inevitability about the online space. This was observed in how Nigeria’s information ministry used Twitter to announce its ban of the platform – an irony that was not lost on the world’s media. So rather than adopting knee-jerk responses reflected in draconian laws, governments should recognize that these forums present a certain accessibility that citizens otherwise would not have. It enables them to express legitimate concerns and engage more directly with those who govern. Banning social media platforms deprives governments and their citizens of an important communication tool and questions the commitment of a country’s leadership to transparent governance. References Denis, G. (2021), The Echoes of End SARS Protest, The Punch, July 7, 2021 Ibanga, T. (2021), Social Media Regulation Bill and the Youth, Daily Times, July 8, 2021. Nduka, M. (2020), Socioeconomic Impact of Twitter Ban in Nigeria, Daily Trust, July 10, 2021. Oduniyi, A (2021), The Quest for Democracy and Social Media, Daily Times, June 12, 2021 pg. 14 Peter, P. (2021), Legal Matters on the Twitter Ban in Nigeria, The Vanguard, July 15, 2021, www.vanguard.com Sunday, M. (2021),Twitter Ban and the Invitation of Lawlessness, Premium Times, June 7, 2021. www.premiumtimes.com (visited 3 August, 2021) www.newsdesknigeria.com (visited 3 August, 2021 ) www.twitter.com (visited 3 August, 2021 )

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Industrial Relations and Conflict Management Processes Adeleke Daniel Durojaiye Department of Theology and Christian Education, Triune Biblical University, GE, USA [email protected] ABSTRACT It is trite that the existence of conflict in an organization or industrial setting is indubitably indispensable. This points to the fact that man's interaction, relationship and co-existence with the fellow man is prone to conflict. Therefore, conflict is a state of disagreement between individuals, groups or organizations. Conflict management processes are the mediums or techniques adapted to control and curtail conflict. The objective of this article is to examine the nature of human relationship in an industrial setting or organizations and the way in which conflict can be managed effectively and efficiently when it arises, using various conflict management processes. KEYWORDS: Concept of Industrial Relations, Conflict Management Processes, Solutions and Brainstorming. INTRODUCTION Industrial relation; no matter how cordial, is not devoid of conflict, as such some scholars asserted that conflict is inevitable, destructive, irrational and injurious. However, when it is perceived in an organization, it should be controlled and curtailed instantaneously. The issue of conflict in an organization or industrial setting has undoubtedly becomes a great concern to management because of it destructive effect on industrial relations and growth. Conflicts mostly arise as a result of employees competing for scarce resources. Ford (2007), opined that conflict remains an inevitable

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com situation in everyday life either between individuals, groups, societies or organizations at large. It is logical therefore to say that, the manner in which conflict is controlled determines whether it is going to be beneficial or damaging in nature, (Matthew'etals2019). In industrial setting, conflict is said to be the presence of disagreement between different individuals with varied opinions, goals and values that affects the general interest of the organization at large. It is also a process whereby people within the system work against each other’s interest. There are different perspectives to the issue of conflict in an organization. To some, it is perceived as a destructive state that has to be circumvented if possible at all cost. While others see it as a platform that compels administrators to be on their toes, and also, as an avenue for personal development and more often times people use it to their advantages. Fox (2001) postulated that conflict occurs when parties in an organization have a negative perception towards one another and they no longer trust themselves. Based on this contention, it can be presumed that conflict will always exist, be it between groups, administrative members or among organizations in the same line of business. However, organizational conflicts from business point of view, has to do with a disagreement that occurs when the values, aims, and interests of different people or groups are not compatible with one another. Hence, the need to frustrate each other in order for the set goals not to be achieved. Lewis, French & Steane, (1997) observed that organizational conflict is inevitable because it is a product of mismatch of people’s values and it arises from divergent behaviors, (Matthew'etal, 2019). As a corollary to the above purview, it is sacrosanct to examine the concept of industrial relations and conflict management processes in this article.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com LITERATURE REVIEW This article examines the concept of industrial relations and conflict management processes through a literature review. A study has been conducted of Hundred (100) staff of MBI Aesthetic Ltd to predict the commonalities in conflict management processes using behavioral method. BEHAVIOURAL METHOD Industrial relations and conflict management processes are behavioral methods used to resolve conflict. These behaviors are a consequence of both external circumstances and the individual's own method of interaction with people and problems; and are chosen dependent upon the relative significance of one's concern for self, vis-à-vis concern for others. Management of conflict is extremely important for the effective functioning of organizations and for the personal, cultural and social development of humanity. The manner in which conflict is managed can cause more tension in some circumstances than conflict itself. Therefore, any expert who is involved in conflict management process should be objective and not subjective. Thomas and Kilmann identified five methods of dealing with conflict along two dimensions of behavior. The five methods are: Competing (assertive and uncooperative), collaborating (assertive and cooperative), Compromising (falls into the middle) and accommodating (unassertive and cooperative). A study by Rahim (2002) identifies the common incidence of conflict either between management, employees or groups within the organization and comes to the conclusion that the term conflict is inevitable in an industrial setting. The study further argues that conflict is bad and can as well be prevented. The finest process for conflict management is either to avoid or find a lasting solution to it, when it occurs.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com CONTEMPORARY METHOD This method or approach is explained as the interaction that involves both the society and its environment. The scholars perceive conflict as a required condition of industrial relations and it shows how an organization is to be reactive to change. The scholars here are of the opinion that conflict is both purposeful and receptive to change. Therefore, the study concludes that the best approach to handling organizational conflict is not to subdue or resolve it but provide a strategy, so as to reduce it destructive consequences. CONCEPT OF INDUSTRIAL RELATIONS Industrial relations connote the relationships between employers and employees towards each other in terms of supervision, direction, planning and coordination of organizational activities, with minimal human efforts and functions; all done with an enthusiastic spirit taking into consideration the safety of all employees. Industrial relations can also be seen as a relationship between the employees and management. Industrial relations constitute one of the most delicate and complex problems of the modern industrial society. This phenomenon of a new complex industrial set-up is directly attributable to the emergence of Industrial Revolution. The pre-industrial revolution period was characterized by a simple process of manufacture, small scale investment, local markets and small number of persons employed. Due to the personal and direct relationship between the employer and employee, it was easier to secure corporation of the latter. Any conflict, grievance or misunderstanding on the part of either party could be instantaneously resolved. Also, there was no interference by the state in the economic activities of the people. Under such a set-up industrial relations were simple, direct and personal. This situation began to change with the advent of industrial revolution, as the size of the business increased and thereby necessitating investment of huge financial and human resources. This era birth a new breed of professional managers triggering dichotomy between the ownership and management,

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com and relationship between the employer and employees. This new set-up rendered the old philosophy of industrial relations irrelevant and gave rise to complex, indirect and impersonal industrial relations (Pradiq, 2015). CONFLICT MANAGEMENT PROCESSES Conflict management involves analyzing the conflict and then solving it (Matta & Corby, 2000). According to Barki and Hartwick (2001) and Robbins (2003), the best practice to solve the conflict is to look back at the process itself. In addition, Warner (2000) stated that the conflict management process came with the building blocks such as conflict analysis, conflict management plan and also capacity building and implementation. Apart from that, according to Pierce, Gardner &Dunham (2007), the conflict process is from the individual's experience itself regarding the frustration, the individual conceptualization of conflict, a conflicting style which is one of them is conflict resolution. Meanwhile according to the Satterfield, Friday-Stroud & Shivers- Blackwell (2007) has described a conflict process with stages such incompatibility or even potential opposition, intentions, behavior and outcomes and classifications of conflicts. Meanwhile for the Ng, Pena-Mora & Tamaki (2007) provide the resolutions steps including prevention, negotiation and also trust that will give effect on the conflict and negotiations process. Apart from that, according to Mosaic (2012) the conflict management process with steps such as acknowledgement, action, analyses and attitude. According to Stoner, Freeman & Gilbert (1998), the conflict management process involve persuasion, communication and also power. This is because the main reason for the conflict management process is by knowing the facts to always remain calm and listen to others. From various literatures, it can be identified that in general the first step for the conflict management process is to identify the conflict. This step will make the employees

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com assess the first of the causes of conflict. For example, at this first stage of the conflict management process, the employees will get information regarding the issue of the conflict and try to judge the situation carefully to deal with the situation with consideration. The different conflict also can be learned at this stage as the law for it different. The second step is to analyze the conflict. This is to make it more understandable regarding the situations and also prioritize and clarify the issues that need to be addressed. Besides that, it is to identify the root causes that contribute to the factors that cause the conflict. By doing that it is to identify all the information provided regarding the conflict and also further information needed so as to enhance all the problem-solving skills. The next step which is step number three is to identify alternative solutions. After knowing the point of the conflict, the next step is to identify how the situation can be changed. This can be made by discussions to resolve any conflict that happens. Listening skill also involved. List out possible solutions that can be taken to reduce or resolve the conflict management process. After identifying the alternative solutions then the next step is by applying conflict resolutions techniques. By doing this try to encourage participants to discuss the situation in a good manner and don't use pressure to reach an agreement. Besides that, all the resolutions technique should be based on the right law to apply because it involves playing with the issue. Next step is choosing the best alternative. Regarding all the conflict resolution technique it should be able to express clearly and firmly. Recognize all the advantages and disadvantages of each conflict resolution so that all the way or method can be done according to the situation. By listening carefully to the different issue can solve the problem. For example, by using an active listening skill for both parties can help to solve the problem because it needs both cooperation’s. Focusing on listening will help to prevent the conversation from becoming heated and out of hand too (Sabiroh, 2021) of agreed conduct, while resources conflicts are those coming from

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com different concern groups which are contending or fighting for administrative resources (David 2012). Robbins (2005) further identifies another set of organizational conflicts sources and indicates that when the root source of conflict is acknowledged or known, it will bring about proper conflict management within the system. Some of the sources are; communicational conflict, which comes up as a result of misunderstanding. Structural conflicts emerge due to business roles and individual conflicts are all about individual differences. Similarly, Suliman & Abdulla (2005) conducted yet another study and identified conflict sources which include; politics and priority characterization, personality and allocation of resource, unresolved prior conflicts, procedures in administration, communication and leadership problem. Another study by Duke (1999) further identifies. EMPIRICAL REVIEW Conflict is obviously connected with power and it mostly arises when the stated objective and goals of any business enterprise is circumvented. Previous scholars on the issue of conflict are of the view that, the root source of conflicts is deeply entrenched in our biology. Schellernberg (1999) describes such approach as individual characteristics theory that focuses on the individual and his acts, rather than the context of the act. However, Fajana (2002) develops in his study two major sources where conflict can emerge in an organization. These are external and internal sources respectively. The external sources of conflict occur because of its peculiarity, meaning that it is always from outside the organization. It has to do with a situation when a third party intervention to industrial dispute is required and which most of the time is one sided or biased. Meanwhile, the internal sources of conflicts are referred to as those elements which are in-built within the structure of an organization. Some key features when it

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com comes to internal sources of conflict were identified which are; opposing interests, divergent interests, poor-relationship e.t.c (Fajana, 2002). Another perspective to sources of conflict in an organization is a study by Katz (1990) who categorizes conflict sources into three groups. They are; structural conflict- which has to do with conflict arising when a department depends on another department in order to function effectively. Role conflict- this is a conflict which emanated as a result of special sets other major sources of conflict to corroborate earlier submissions. These are interpersonal disagreements which occur when an individual is stressed up; the problems of role conflict; and power struggles that makes people join forces together to achieve personal selfish interest (Matthew Et al 2019). CONFLICT AND ITS EFFECT ON INDUSTRIAL RELATIONS Conflict in an industrial setting should not be perceived in a negative form; its outcome, be it constructive or destructive, largely depends on how it is being handled and managed by those in position of authority. Conflict can come in a different form within the organization. It can be between superior and subordinate, heads of department etc. Groups can also be involved when it comes to issue of conflict based on performance as well as unknown management rivalries. It is a general assumption that there is always a negative consequence of conflict for the organization and individual. The effects can be in the form of Physiological responses (headache, hypertension and heartburn), Behavioral responses (alcoholism, aggressiveness, work sabotage and decreased communication) and Psychological responses (work anxiety, frustration and job dissatisfaction). However, one can conclude that conflict does not only hinder the performance of individuals, but can also lead to emotional disorders, which invariably affects the individuals’ health in the long run.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com DATA AND METHODOLOGY Industrial Relations and conflict management processes examined in this article used a descriptive research design. The research targeted a working population of one hundred (100) employees of MBI Aesthetic Ltd. A simple random sampling technique was adopted in selecting a sample size of one hundred (100). A structured questionnaire was adopted as a research instrument for the study. However, from the one hundred questionnaires administered, only eighty were filled and returned appropriately. The questionnaire was divided into 2 major sections. The first part of the questionnaire sought for the demographic reports of the respondents, while the second part comprised 20 items questions to be answered in Likert scale format ranging from strongly agree to strongly disagree with numerical value 5-1, which was used to measure pertinent constructs of ( identifying conflict, analyze conflict, brainstorming, create alternative solutions, select a solution, implement the solution, review the impact and close the case) independent and dependent variables for the study. The data collected were analyzed using descriptive statistics (frequency counts, mean and standard deviation) and inferential statistics of (Pearson correlation coefficient). RESULT AND FINDINGS This section presented the findings on the work process currently practiced by staff that works at the MBI Aesthetic Ltd. in handling cases related to conflict management gained from the intersession in the qualitative research phase. To ensure the confidentiality of the respondents' information, the respondents will not be disclosed. During the interview sessions, the respondents were asked how they handled the cases involving conflict between employee and employer when the cases were assigned to them. They were also asked to explain in details all the processes that they undertook during the case management. In overall, this study found that different employee follows a different work process in handling the cases.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Reason being there is no standard work process available in the company that they can follow. Some of the respondents mentioned that when they were not sure what they are supposed to do, they will ask their colleague or other senior staff to help them. They find it difficult to carry out their work due to the absence of a standard work process in the company. Apart from that, this study also found that some staff follows a shorter work process than the other. Some steps in the conflict management process were skipped because they are not aware of it. This could lead to a negative outcome from the conflict management process and would not help the parties involved in resolving their conflict. Based on the results, we classified the process into eight processes which include: Identify a conflict - Conflict exists when there is the dissatisfaction between two parties, i.e. the employee or employer. Most of the cases started when an employee files a report towards his employer. The case will then be assigned to a staff that will be in-charged to resolve the conflict. Cases of the conflict include dismissal without just cause and failure to comply with statutory requirements by the employer. Analyze the conflict - In this process, the management will analyze the conflict based on the report that he received from the employee. The manager will analyze if the employee has a valid case against the employer by analyzing the employee's statement and evidence provided. This is also to ensure that the next step can be taken according to the law and to avoid waste of time. Brainstorming - During this process, the manager is allowed to discuss the strategy of how the conflict could be resolved with his superiors and colleagues. The manager is free to ask another staff what step they should take to resolve the conflict. The idea and opinion flow freely during this time. The brainstorming session allows some alternatives

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com to be outlined and the best suitable strategy to resolve the conflict will be selected later on. Create alternative solutions - During the brainstorming session, the manager usually will come out with a few alternative solutions that can be applied to resolve the conflict. Select a Solution - During this process, the manager called both parties involved in the conflict for a meeting and offers the alternative solutions that he has prepared earlier. This process is carried out to achieve a good decision together. This is to avoid the conflict from continuing any longer or pending decisions to resolve the conflict. However, sometime during this time, both parties cannot agree on a decision to resolve the conflict. If both parties cannot agree to a decision, the case will proceed to a court trial. Trial or hearing is considered to be the last step for both parties. Implement the solution - Most cases will cause some sort of dissatisfaction to the employee as well as the employer. A manager must act with fairness and cannot take any side. Thus, during this process, the manager will implement the solution as agreed by both parties in the previous stage. Review the impact - According to the company's standard operating procedure, all reported cases should be resolved within 90 days from the date of the report was made. However, this is only applicable to all cases that could be resolved by the managing director without going into trial. After the implementation of the selected solution, the manager will review the case until all necessary said action has been taken according to what has been agreed by both parties in the earlier discussion.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Close case - After all the necessary actions have been taken, the case will be closed. However, the documentation related to the case will be retained in the company file for a record for at least three years. All these components that were found in the conflict management process play an important role and related to each other for resolving the conflict. Based on the analysis that has been done during the interview sessions, this research summarizes the findings and presents it as a conflict management processes. CONCLUSION The way and manner through which conflict is been resolved in an organization will determine the level of coherence within the system. Hence, this study examined industrial relations and conflict management processes. However, findings from this research revealed that industrial relations are not devoid of conflict and it is established that some conflicts can be constructive or destructive to an organization. Furthermore, the study classified the conflict management processes into eight components, which include: identify a conflict, analyze the conflict, brainstorming, create alternative solution, implement the solution, review the impact and close case. The study further shows that all the components that were found in the conflict management processes play vital role and are related to each other for resolving conflict and restores industrial relations and coexistence. The study empathically discussed the importance of industrial relations devoid of conflict and how it boasts organizational growth and development.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com RECOMMENDATIONS Arising from the study, the following under listed points are herewith recommended: i. There is need for organization to develop different processes and policies that can promote industrial relations and coexistence. ii. Industrial conflict should be controlled and curtailed, in order to avoid the destructive effects of conflict on the organization. iii. There is need for effective and proper communication procedures to be put in place in order to resolve conflict. iv. Management should provide an avenue for different departments in the organization to be part of the decision making process- by so doing they will have a sense of belonging in the organization. v. It is also going to be of benefit if there is adequate interaction and dialogue in conflict management processes. vi. Management should also organize trainings, workshops, seminars that centered on conflict management periodically for all members of staff in the organization.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com REFERENCES BARTON, J. W. (1998). Conflict resolution: The human dimension. The International Journal of Peace studies, 3(1), 1085-1100. BRADFORD, D. L., & BURK, W. W. (2005). Re-inventing organizational development. San Francisco: Pfeiffer Press. Chartered Institute Of Personnel Development, (2008). Leadership and the management of conflict at work, retrieve from http://www.cipd.co.uk. FORD, J. (2007). Organizational conflicts Management. What’s a system? www.mediate.com/pfriendly FOX, R. (2001). Organizational conflict and its effects on organizational performance. Research Journal of Business Management, 2(1), 16-24. Matthew Et al (2019) Conflicts Management Strategies: A Tool for Industrial Harmony, retrieve from http:/journal.ue-varna.bg. Matta N. & Corby O. (2000) Conflict Management in Concurrent Engineering: Modeling Guides, in Sabiroh Et al (2021). Sabiroh Et al (2021). Exploring the Conflict Management Process: A Case Study of the Department of Labor in Malaysia (Vol 16) 1-7.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Impact of Financial Technology on Small and Growing Business Profitability: A Study of Small and Growing Business in Abeokuta South Local Government, Ogun State, Nigeria. Oyedele Ola Olusegun, Ph.D1,ArowosayeOluwapelumi Abiodun2 and Ajasa Lukmon Oladimeji3 Federal University of Agriculture, Abeokuta, Ogun State, Nigeria. College of Management Sciences, Department of Entrepreneurial Studies. [email protected]; [email protected]; [email protected] Corresponding Author: [email protected] Abstract The study investigated the Impact of Financial Technology on Small and Growing Business Profitability in Abeokuta South Local Government Area of Ogun State. Cross- sectional descriptive research design was employed for the study where 133respondents (sample size) from the selected total estimated population of 200 SGBs for the study area and were gathered using well-structured questionnaire. Their responses were tested using appropriate statistical tools of SPSS package using the ANOVA. Our study revealed that a positive relationship exists between financial technology and small and growing business profitability. This implies that financial technology has a great impact on small and growing business profitability. Small and growing business owners should implement financial technology tools into their business activities in order to achieve efficiency which invariably leads to increase in profit in business. HypothesisoneshowsthatR2of0.399,andvalueofP<0.05,AdjustedR2=0.394. HypothesistwoshowsthatR2of0.466,andvalueofP<0.05,AdjustedR2=0.461.R2measuresth epercentageofvariationinthedependentvariablecausedbyvariationintheindependentvaria ble.Thisresearchprovidesrecommendationsextractedfromfindings that, Small and growing business owners should explore more financial technology tools in order to improve efficiency in business thereby increasing their competitiveness in the global world and bringing about national development to Nigeria; and Government should set

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com strict measures for the establishment of financial technology company in order to curb the increasing number of scammers. Keywords: Financial Technology; SGBs; Profitability, Digital Payment, Technological innovation. 1.0 Introduction Information and Communication Technology (ICT) has spurred several transformative developments in a number of industries, including financial services. In several cases, especially in the financial services sector, ICT is creatively used to transform business practices and create new business models. Financial Technology (FinTech) encompasses new ICT-based business models in financial services such as digital crowd funding, digital payment systems, and cryptocurrencies. Fintech is a portmanteau combining the words “financial” and “technology.” FinTech is technologically enabled financial innovation that could result in new business models, applications, processes, products, or services with an associated material effect on financial markets and institutions (Schindler, 2017).FinTech also refers to new financial services or goods provided by technology. Many small and growing businesses (SGBs), startups, and medium-sized businesses are developing FinTech products, which could disrupt the financial sector. FinTech expands financial services to many people that are currently lacking access where customers enjoy using banking products and services provided by non-banking providers. FinTech changes the way people pay, send money, borrow, lend, and invest. Moreover, the emergence of FinTech has caused significant disruptions in the financial services industry. Though it is still a long way from replacing current financial services,

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com it enables non-financial industries to deliver financial products and services that are digital, user-friendly, efficient, and transparent in the same way that banking and financial services are. Fintech provides new opportunities to empower people by increasing transparency, reducing costs, eliminating middlemen, and making financial information accessible (Zavolokina et al., 2016a). Fintech firms are expanding their business beyond the online platform to include the mobile platform (e.g., mobile payment, mobile remittance). Non-financial providers are evolving the traditional online banking system provided by traditional financial institutions into innovative and differentiated financial services. The rise of FinTech has inevitably led to changes in the role of technology, consumer behaviour, and ecosystems, as well as the industry and regulation itself (Gozman, Liebenau, &Mangan, 2018). FinTech helps many people who do not have access to financial services to benefit from banking products and services offered by non-banking providers. FinTech is changing how people pay, send money, borrow, lend, and invest. Furthermore, small and growing businesses (SGBs) play an important role in every economy, as they are prepared to create jobs, support GDP growth, improve employee retention, and improve other economic activities. SGBs make huge commitments to any country's economic and social development regardless of its growth. SGBs make up a large part of many economies. They are considered as the backbone of an economy given the fact that in some economies SGBs contribute to more than 50% of Gross Domestic Product. Particularly in the European Union, SGBs constitute 99.8% of all firms and employ around 76 million people representing around 67.4% of total employment in 2010. In the US, SGBs constituted more than 50% of the non-farm private GDP and created 75% net new jobs in the economy. Therefore, it is clear that SMEs play an important role in promoting inclusive growth in countries(Amaradiwakara & Gunatilake., 2017).

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com 1.1 Statement of Research Problem Small and growing business (SGBs) makeup a large part of many economies and they are considered as the backbone of an economy given the fact that in some economies SGBs contribute to more than 50% of Gross Domestic Product in which Nigeria is not an exemption(Amaradiwakara & Gunatilake., 2017). Likewise the usage of financial technology by businesses has been increasing rapidly. Small and growing businesses that are being regarded as the backbone of an economy is faced with plethora of challenges and these challenges have been hindering their progress. Especially in Nigeria, it is hardly you see small and growing business that last for two years without encountering these challenges. Nitin, B., Asst, G., & Subharti, P.,(2017) says in their study that the key factors that convince people to use digital payment are cost and convenience, with the quality and quantity of information being the most appealing feature. However, small and growing business owners make use of financial technology resources to promote their businesses and the adoption of these resources has brought about some changes in small and growing businesses in Nigeria. One of the resources they make use of is the digital payment systems which include mobile payment, electronic wallet, payment cards, electronic money, online payment, et cetera. This resource has been helpful in such that customers that don’t have cash at hand can purchase products from them and pay through these digital payment systems. Furthermore, most small and growing businesses in Nigeria fail to invest more money on research for the improvement of their products or services and this affect their business performance, thereby, causing stagnancy for their businesses. Olomu (2017) encouraged small and growing businesses to invest more money on research that relates

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com to quality improvement as well as improving the standard of production process in order to increase productivity. He further stated that technological innovation is important to SGBs in Nigeria to achieve profitability. This leads to the growth of firms hence, employment generation. Hence, in a bid to fill these gaps in literature, this study investigates the impact of financial technology on small and growing business in Abeokuta South Local Government, Ogun State. 2.0 Literature Review 2.1 Financial Technology Financial technology is a form of technology and innovation that aims to compete with conventional financial approaches when it comes to delivering financial services (Al_Duhaidahawi, Jing, Mustafa, Meriem, Sinan, 2021). The advancement in financial technology makes purchases more convenient for consumers. Financial technology, as a financial services advancement, aims to make it easier for people to access financial products and to make transactions more convenient.(Farida et al., 2021).FinTech is a “technology-enabled innovation in financial services that could result in new business models, applications, processes or products with an associated material effect on the provision of financial services ” (Financial Stability Board, 2019). FinTech can also be define as “the advances in technology that have the potential to transform the provision of financial services spurring the development of new business models, applications, processes, and products” (IMF, 2018). FinTech has compelled banks and other financial institutions to keep up with technological advancements while also motivating them to integrate and scale a user-centric approach into their business models. FinTech has aided in the transformation of conventional banking operations such as payments, borrowing, transactions, lending, and investing (Chishti&Barberis, 2016). Fintech companies make use of the latest advances in the field of mobile payments, online banking, digital instant money transfers and other groundbreaking

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com innovations in developing their business models. Today's organizations based on such models are at the cutting edge of technology.(Doszhan, Nurmaganbetova, Pukala, Yessenova, Omar, Sabidullina, 2020). 2.2 Digital Payment System Our lives have undoubtedly been made simpler by technological advancements. Digital payments are one of the technological innovations in banking, finance, and commerce. Digital Payments are a technological advancement that allows us to conduct financial transactions electronically, eliminating long queues and other inconveniences. Individuals have more flexibility in paying their taxes, permits, penalties, fines, and transactions at unusual places and at any time of day, 365 days a year (S, 2016). Digital payment systems, also known as paperless monetary transactions, have revolutionized business processing by reducing paperwork, transaction costs, and labor costs. Electronic commerce assists a business enterprise in expanding its consumer scope because it is user-friendly and takes less time than manual production. \"Privacy, confidentiality, compatibility, performance, acceptability, ease, mobility, anonymity, and low financial risk should all be guaranteed by any secure digital payment system so that consumers can feel safe and comfortable when transacting.\" (Fahmi&Evanita, 2019). Digital payment systems key goals are to boost performance, improve security, and improve consumer comfort and ease of use (Lectron, 2015). Lectron (2015) also opine that, customers in traditional/conventional businesses pay for goods and services with cash, checks, or credit cards; however, online consumers can pay for goods and services with one of the following digital payment systems; 1. Smart cards contain stored financial value as well as other critical personal and financial information that is used for online payments.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com 2. Electronic wallets (e-wallets) are similar to smart cards in that they store financial information for online transactions. 3. EFT stands for electronic funds transfer and refers to the electronic transfer of money between financial institutions. 4. Payment cards store financial information that can be moved from a customer's computer to an entrepreneur computer. 5. Micro-payment systems: Micro-payment systems are similar to e-wallets in that they store financial value for online payments; however, they are used for small payments, such as kurus in Turkey. 2.3 Technological Innovation Technological innovation is a unified process that includes technology, organizational, corporate, and financial activities. It means that entrepreneurs seize market opportunities for commercial gain with the aim of improving the production and operation system's performance, efficiency, and cost. New products and manufacturing methods are introduced as a result of this process, as are new markets, new raw materials or semi-finished products, and new business organizations(Olomu, 2017). Application of modern technologies and methods; adoption of new techniques in production and new management tactic or strategy; enhancing quality of production; creating new production; offering new service; finding new markets and realizing market value are all examples of technological innovation. It can be deduced that enterprise technological innovation includes R&D, manufacturing, sales, and management. 2.4 Small and Growing Business Dar M. S., Ahmed, S., & Raziq, A.(2017) says small and growing businesses (SGBs) play an important role in a country's economic, manufacturing, and social growth. To

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Obi, J.; Ibidunni, A.S.; Tolulope, A.; Olokundun, M.A.; Amaihian, A.B.; Borishade, T.T.; Fred, P. (2018), small and growing businesses are drivers of economic development. A thriving Small and growing business (SGB) sector can serve as the foundation for all economic activity, and SGBs can serve as the economy's mainstay, especially in terms of employment. The SGB sector is one of the primary drivers of economic growth and job development in many emerging markets. This is particularly true in Africa, where SGBs and the informal sector account for over 90% of businesses, contribute over 50% of GDP, and employ approximately 63 percent of the population in low-income countries (Ezekiel et al., 2017). A small & growing business is described as \"an independent business with fewer than 500 employees,\" according to the US Small Business Administration's Office of Advocacy(Small Business Administration 2018). Due to their substantial contribution to gross domestic product, tax revenue, and jobs, small and growing businesses (SGBs) are regarded as a vital part of an economy(Abbasi et al., 2021). 2.5 Customer Satisfaction Satisfaction is a criterion for evaluating the degree of pleasure derived from a service. Such pleasures can be found in a variety of settings. Customers are people who come to the same location over and over again to satisfy their needs and wishes in terms of receiving satisfaction from a product or service (Tiza&Susanti, 2019). Customer satisfaction, according to H., & Usman(2021), is a state in which a customer or consumer experiences a degree of feeling that is consistent with his expectations. Customers are satisfied when they have the best quality and assistance possible. Customer satisfaction will rise as service quality improves. Customers would be more comfortable if the service offered is higher. If a consumer is satisfied with a product, the customer would be loyal to the product on its own.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com According to Rohaeni&Marwa(2018), Consumer satisfaction with a product or service is influenced by many factors, including the cost of switching to another product or service, the similarity of quality, or service of a replacement type of goods or services, the risk of cost changes due to replacement goods or services, and the change in the level of satisfaction obtained from replacement goods or services. In the study of Saidani, Lusiana, &Aditya(2019), product quality, service quality, emotional level, price, and cost all influence customer satisfaction. Customer satisfaction is the product of a customer's assessment that the service offered by a company has given him pleasure. If the customer's needs are fulfilled, the services given are deemed satisfactory. 2.6 SGB Performance The success of SGBs is largely determined by their performance. It could relate to the outcome of the owners' efforts put into the business. In general, strong SGBs output indicates both business success and growth. In general, SGBs' success reflects their competitiveness as well as their advanced development in business growth. For business development, factors that influence success must be investigated. Firm performance refers to how a company should be run in an orderly and truthful manner in order to satisfy the needs and value of its customers and shareholders(Shanmugam et al., 2019). Shanmugam et al.,(2019) further says to assess the performance of SGBs, a good performance measurement model is needed. The management will be able to keep track of and monitor how the business performs and achieves its corporate objectives and priorities with the aid of performance assessment. Furthermore, performance assessment will imply company sustainability in the near future, as well as meet the expectations and needs of key stakeholders such as consumers, creditors, and lenders.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com According to Cicea, Popa, Marinescu, & tefan(2019), the performance of SGBs can be assessed quantitatively (efficiency, financial results, level of production, number of customers, market share, profitability, productivity, revenue dynamics, costs and liquidity, etc.) as well as qualitatively (goals achieved, leadership style, employee behavior, customer satisfaction, product and process innovation, organizational culture, etc.). 2.7 Theoretical Review: Schumpeterian Theory of Creative Destruction Joseph Alois Schumpeter proposed the Theory of Creative Destruction, also known as Creative Destruction, to describe the contradictions of capitalism in a dynamic and constantly evolving society. Entrepreneurs produce new products or new ways of producing, transforming the economy, which is known as creative destruction. Promising professions often vanish as a result of this process, and successful professionals are forced to adjust to the new reality by finding a new occupation; they lose the prestige they formerly had, and can never again experience the prosperity they once had. Capitalism is both a source of suffering and a source of enjoyment. Those who lose with new technology experience pain, and those who win with innovations experience pleasure (Marisy et al., 2020). David & Onyeiwu(2018) says Innovations, according to Schumpeter, are perpetual gales of creative destruction that are necessary factors driving growth rates in a capitalist society. Some scholars have distinguished Schumpeter's early thought, in which innovation was primarily dependent on exceptional individuals willing to take on extraordinary risks as \"an act of will,\" i.e., entrepreneurs, from his later thinking, which recognized the position of large corporations in organizing and promoting innovation. The Schumpeterian Theory of Creative destruction is relevant because new technology

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com replaces old technology which is better because new technology is better and adds value to the adopter. The Schumpeterian theory of creative destruction was found most suitable for this study because the theory clearly explains the relationship between financial technology and small and growing business profitability. The reason is that the Schumpeterian theory of creative destruction means creating new technology or innovation to completely replace the old technology or innovation and this particular study focuses on the great disruption in the financial industry and its impact on small and growing business. The new technology been introduced to the financial industry will help small and growing business to enhance its customer satisfaction and performance, and this invariably increase the profit of such business. 3.0 Methodology This study adopted quantitative data analysis for this study; the cross-sectional descriptive research design was employed. The scope of the study covers Abeokuta South Local Government Area of Ogun state, Nigeria. The respondents who are owners of small and growing businesses in the areas were purposively randomly selected in order to accomplish the objective of the study. Data collected was through the primary method using a field survey of small and growing businesses. A well-structured questionnaires instrument was designed using five-point like the scale with personal interview based on the questions in the questionnaire which was most effective due to time constraints. A sample of133 respondents was taken from the total population of 200 of small and growing businesses within the study area using purposive sampling techniques of Taro Yamane (1967), MarCorr (2021) Calculator and Raosoft (2021) calculator based on reports of the number of small and growing businesses in the study area and approximately 93.2% of the administered questionnaires were retrieved. This study also employed both descriptive and inferential statistics to test the data that was

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com collected. The use of descriptive statistics involves percentages, frequency distribution and tables; while inferential statistics involves the use of statistical tools such as Regression. For easy analysis and computation, the Statistical Package for Social Sciences (SPSS) version 25 was used. Both dependent and independent variables of the operationalized construct were measured by two (2) items, each validated by different authors found inextantliterature. 3.1 Data Analysis and Interpretation RegressionviaSPSS25.0 was used to test the research hypotheses and analyze the dependent and independent variables. 3.2 Hypotheses 3.2.1 Hypothesis One H0: Digital Payment Systems has no significant effect on Customer Satisfaction H1:Digital Payment Systems has significant effect on Customer Satisfaction Table 1 Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1 .632a .399 .394 1.81947 a. Predictors: (Constant), Digital Payment Systems Table 2 ANOVA a Model Sum of Squares df Mean Square F Sig. 81.058 .000b 1 Regression 268.341 1 268.341 Residual 403.877 122 3.310 Total 672.218 123 a. Dependent Variable: Customer Satisfaction

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com b. Predictors: (Constant), Digital Payment Systems Table 3 Coefficientsa Model Unstandardized Coefficients Standardized Coefficients T Sig. B Std. Error Beta 1 (Constant) 1.687 .534 3.158 .002 Digital Payment Systems .753 .084 .632 9.003 .000 a. Dependent Variable: Customer Satisfaction Interpretation The result from the model summary table revealed the extent to which the variance of customer satisfaction can be explained by digital payment systems. Looking at the result above, it shows a significant effect of digital payment systems on customer satisfaction at (R² = 0.399, Adjusted R² = 0.394, P = 0.000). These indicate that of the variation in customer satisfaction, digital payment systems accounted for (39.9%). Also, the F- values statistics of (81.058) shows that the overall equation is significant at (Significant level = 0.000; P ˂ 0.05). Therefore, the null hypothesis (Ho) which states that digital payments system has no significant effect on customer satisfaction is hereby rejected and the alternative hypothesis (Hı) is accepted. 3.2.2 Hypothesis Two H0: Technological Innovation has no significant effect on Small and Growing Business Performance H1:Technological Innovation has significant effect on Small and Growing Business Performance

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com Table 4 Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1 .682a .466 .461 1.71593 a. Predictors: (Constant), Technological Innovation Table 5 ANOVAa Sig. Model Sum of Squares df Mean Square F .000b 1 Regression 312.998 1 312.998 106.302 Residual 359.220 122 2.944 Total 672.218 123 a. Dependent Variable: SGB Performance b. Predictors: (Constant), Technological Innovation Table 6 Coefficientsa Model Unstandardized Coefficients Standardized Coefficients T Sig. B Std. Error Beta 1 (Constant) 1.216 .514 2.368 .019 Technological Innovation .814 .079 .682 10.310 .000 a. Dependent Variable: SGB Performance Interpretation The result from the model summary table revealed the extent to which the variance of SGB performance can be explained by technological innovation. Looking at the result above, it shows a significant effect of technological innovation on SGB sustainability

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com performance at (R² = 0.466, Adjusted R² = 0.461, P = 0.000). These indicate that of the variation in SGB performance, technological innovation accounted for (46.6%). Also, the F-values statistics of (106.302) shows that the overall equation is significant at (Significant level = 0.000; P ˂ 0.05). Therefore, the null hypothesis (Ho) which states that technological innovation has no significant effect on SGB performance is hereby rejected and the alternative hypothesis (Hı) is accepted. 4.0 Discussion of Findings According to Hypothesis one, which state that digital payment systems has no significant effect on customer satisfaction. Following the analysis of the results on research hypothesis one, we therefore reject the null hypothesis (Ho) and accept the alternative hypothesis (Hı) which states that there is a significant effect of digital payment systems on customer satisfaction. The result of this present study was in line with the study of Hossain & Zhou (2018)that mobile payments which is one of the digital payment systems have a significant effect on both marketers and customers; they have the potential to increase sales due to their utility, emotion, and protection. The emotion and security of m-payments as shopping tools will affect customer satisfaction, according to their study. Their study found that m-payments are used for their convenience, emotion, and protection, all of which influence online shoppers' satisfaction and purchase intention. According to Hypothesis Two, which state that technological innovation has no significant effect on SGB performance. Following the analysis of the results on research hypothesis two, we therefore reject the null hypothesis (Ho) and accept the alternative hypothesis (Hı) which states that technological innovation has significant effect on SGB performance. The result of this present study was in line with the study of Olomu(2017). His study explore the concept of technological innovation in Nigerian manufacturing SGBs. His study showed the relationship between technological innovation (product and

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com process) and SGBs performance (measured as firms’ turnover). He further stated that SGBs in the manufacturing industry must step up their innovation efforts in order to build a competitive advantage environment that will boost their turnover and profitability. 5.0 Conclusion This study has shown that financial technology significantly enhances small and growing business profitability in Abeokuta South Local Government, Ogun State, Nigeria. Financial technology has been appealing to every small and growing business because it uses technology to provide financial services more efficiently, with a better experience, a greater emphasis on the needs of consumers, lower costs, and greater accessibility and this lead to the profitability of every small and growing business. As the financial information and processing is readily available, which allows for a business to handle important matters quickly, providing customers with a means to conduct instant, digital transactions at an incomparable speed. However, findings from the study reveals that the two variables which represent Financial Technology (digital payment systems, and technological innovation) has a great impact on small and growing businesses profitability in Abeokuta South Local Government, Ogun State, Nigeria. 5.1 Recommendations This study provides recommendations extracted from the findings, thus the recommendations make explicit the implications of the findings to small and growing business owners.

INTERNATIONAL JOURNAL OF ARTS MANAGEMENT AND PROFESSIONAL STUDIES ISSN: 2814-0370 VOL. 1, ISSUE 1,2021 AVAILABLE ONLINE: www.ijamps.com First, small and growing business owners should explore more financial technology tools in order to improve efficiency in business thereby increasing their competitiveness in the global world and bringing about national development to Nigeria. Second, government should set strict measures for the establishment of financial technology company in order to curb the increasing number of scammers. Finally, small and growing business owners should take more of financial literacy course in order to improve their money management skill. 5.2 Suggestions for Further Studies This study focused on impact of financial technology on small and growing business profitability (A Study of Abeokuta South Local Government, Ogun State, Nigeria). Further studies can therefore be made on the impact of financial technology on small and growing business productivity, using different geographical location within Ogun State as a study area and this research work can also be carried out in other location outside Ogun State, Nigeria in order to improve the effectiveness of financial technology on small and growing business in Nigeria. References Abbasi, K., Alam, A., Du, M. (Anna), & Huynh, T. L. D. (2021). FinTech, SME efficiency and national culture: Evidence from OECD countries. Technological Forecasting and Social Change, 163(May), 120454. https://doi.org/10.1016/j.techfore.2020.120454 Al_Duhaidahawi, H. M. K., Zhang, J., Abdulreda, M. S., Sebai, M., & Harjan, S. (2021). Analysing the Effects of FinTech Variables on Cybersecurity: Evidence Form Iraqi Banks. International Journal of Research in Business and Social Science (2147- 4478), 9(6), 123–133.

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