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PurposeThe purpose of this paper is to examine the effectiveness of faith‐based advocacy (FBA) as a tool for mitigating human trafficking in Nigeria, where trafficking has assumed epidemic dimension. The choice of faith‐based advocacy is based on the recognition of religion as a tool for shaping people's opinions and influencing policies in Nigeria.Design/methodology/approachThe methodology employed in the paper is the narrative‐textual case study (NTCS) combined with qualitative data. The NTCS method utilises human trafficking data made available by the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) for the periods 2004 to 2010.FindingsFrom the qualitative data sourced, the paper argues that human trafficking in Nigeria can be mitigated through faith‐based advocacy as exemplified many years back by both Muslim and Christian groups for the abolition of slavery, a similar phenomenon to human trafficking. The paper concludes that the performance of the Nigerian government in the areas of prosecuting traffickers, protecting victims, and preventing human trafficking has been commendable, but could be better enhanced and energized through the power of faith‐based advocacy.Originality/valueThis paper recommends that governments of Nigeria should partner with religious authorities to jointly mitigate the scourge of human trafficking in Nigeria.

PurposeThe purpose of this paper is to examine the possibility of fast‐tracking sustainable economic growth and development in Nigeria through mainstreaming of the benefits of international migration and inflow of remittances from abroad.Design/methodology/approachThe methodology employed in this research is the planned and systematic collection of qualitative and quantitative data on selected macro‐economic variables from the publications of the Central Bank of Nigeria (CBN) and National Bureau of Statistics (NBS) for a period spanning 36 years (1970‐2006). A multiple regression analysis was carried out, using E‐view statistical package, to validate the prospect of fast‐tracking sustainable economic growth and development in Nigeria through international migration and remittances links.FindingsThere are four findings from this research: there exists a negative relationship between the gross domestic product (GDP) and inflation rate (IR); there exists a negative relationship between GDP and net inflow (NI); there exists a positive relationship between the GDP and foreign private investment (FPI); and there exists a positive relationship between the GDP and external reserve (ER).Practical implicationsThe major practical implication of this paper is that government, financial institutions, immigration departments and Nigerian professionals in Diaspora have a monumental role to play for positive, timely and accurate documentation of international migration data and inflow of remittances for developmental purposes.Originality/valueThis research paper supports the neo‐classical migration theory and segmented labour market theory in economics.

PurposeThe purpose of this paper is to examine the economic cost and social benefits of the National Youth Service Corps (NYSC) set up some years back by the Federal Government of Nigeria.Design/methodology/approachThe paper combined qualitative and quantitative information to substantiate the clarion calls by some scholars and concerned social commentators for a review of the NYSC. Based on the objective stated above, a sample size of 200 respondents was selected and administered copies of structured questionnaires in order to elicit information from a cross‐section of Nigerians. At the end, out of the 200 respondents, only 150 respondents returned their questionnaires on the basis of which recommendations and conclusions were based.FindingsThe main policy thrust of the scheme is to serve as a catalyst for sustainable development in Nigeria after the Nigerian civil war. However, on the strength of the survey, the authors found that the scheme has failed in many respects in accelerating the socio‐economic development of Nigeria, when the relevance of the scheme is measured by Eight‐Scale Perception Index developed by the authors.Practical implicationsThe paper cautions that despite the setback of the NYSC, it would be absurd to advocate that the scheme be scrapped completely. What is rational is for the policymaker to initiate a process for the reform of NYSC scheme in order for it to meet the contemporary expectations and challenges.Originality/valueThe results of this paper support the structural‐agency framework in sociology. The relationship between structure and agency is seen as a dialectical one because society forms the individuals, who in turn create better society by forming a continuous loop. NYSC was laudable at inception, but humans made it crooked; it is therefore expedient that the scheme be revitalized by humans in order to meet contemporary challenges.

PurposeThe purpose of this paper is to explore the role of financial institutions in the escalation of the global economic melt‐down (GEM) in America and how policy‐makers in Nigeria can learn from South Africa to safe‐guard the nation's financial institutions from economic shocks that could be propelled by banks' financial recklessness and poor corporate governance ethics.Design/methodology/approachThe paper combines qualitative and quantitative data to establish that Nigeria has a lot to learn from America and South Africa. America is the heartland of the global financial system, and whatever happens to its economy and currency, often cause ripple effects on the rest of the world, except for a nation like South Africa that had an in‐built mechanism to forestall shock. The paper has six sections. First section presents a brief introduction on GEM and its ripple effects. Second section outlines the retrospective causes of GEM. Third section provides justification for regulation of the economy in the economic literature. Fourth section focuses on the thrust of bank regulation and control with reference to South Africa. Fifth section explores the financial institutions, regulation and supervision in Nigeria. Sixth section concludes with policy recommendations.FindingsThe findings in this paper are the potency of financial regulation and supervision to forestall economic melt‐down; the potency of financial regulation and supervision to safe‐guard a nation's financial institutions from financial recklessness and promote good corporate governance.Practical implicationsThe major practical implication of this paper is that the problems of major banks in Nigeria are traceable to liquidity constraints, poor corporate governance compliance, poor credit risk management policy and ineffective allocation of capital to businesses.Originality/valueThis paper supports the Keynesian argument for effective regulation, supervision and control of the economy in general and financial institutions specifically (as opposed to the blind adoption of mainstream neo‐liberal economics).

PurposeThe purpose of this paper is to examine the appropriateness of faith‐based model (FBM) as a veritable policy response to the issue of poverty alleviation and actualisation of the millennium development goals (MDGs) in Nigeria.Design/methodology/approachThe paper combined qualitative and quantitative date to validate the appropriateness of FBM, to tackling poverty issues in Nigeria. The first section presents a brief introduction on poverty issue in Nigeria. The second section outlines the theoretical and methological approaches adopted in the paper. The third section casts a cursory look at the conceptualisation of poverty in the literature. The fourth section explores poverty‐eradication efforts in Nigeria. The fifth section highlights the failure of previous poverty reduction strategies (PRS) in Nigeria. The sixth section presents a background to MDGs. The seventh section show‐cases application of Islamic economics models (faith‐based model and business system model (BSM)) to MDGs. The eighth section is devoted to data projections, analysis and interpretation. The final section concludes with policy prescriptions.FindingsOn the basis of projection which is hinged on Shari'ah assumptions (minimum zakatable wealth and 2.5 per cent Zakat rate), the paper shows that Zakat and Sadaqat collections from year 2009 to 2015 would amount to N357,038 billions and N31 billion, respectively. These funds would go a long way in helping to alleviate poverty and actualisation of MDGs in Nigeria.Practical implicationsThe faith‐based poverty reduction strategy enriched by BSM as conceptualised in this study can be used to eradicate extreme poverty and hunger (MDG 1), achieve universal primary education (MDG 2), promote gender equality and empower women (MDG 3), reduce child mortality (MDG 4), improve maternal health (MDG 5), combat, HIV/AIDS, malaria and other diseases (MDGs 6), ensure environmental sustainability (MDG 7) and develop a global partnership for development (MDG 8).Originality/valueThe results of this paper support the Islamic economics view that Zakat and Sadaqat are viable fiscal mechanisms for poverty alleviation where adopted. The FBM as conceptualised in this paper would therefore complement and pose a positive challenge to contemporary PRS in use in many poverty‐ridden nations where economic indicators have justified prevalence of poverty, despite the various PRS put in place by policy makers.

PurposeThe paper was written to highlight the advantages of initiating economic integration among Muslim countries across the globe, drawing special lessons from Europe's experience; its successful economic integration and challenges which trailed the process.Design/methodology/approachThe methodology is basically descriptive and analytical. Theoretical construct and model on economic integration was developed for adoption by the Muslim countries. The model seeks to enhance their economic strength through intra and inter trade relations and reduces their weaknesses through specialization. Secondary data from Organization of the Islamic Conference and Islamic Development Bank member countries were exhaustively used in the study.FindingsThe paper found out that integration is plausible and beneficial, however, a concerted effort must be made in promoting technological development, raise human capital, and improve the product diversification among Muslim countries while developing stable institutions and infrastructures. Two, the potential benefits of integrating exceed the costs. The emphasis needs to be, not in cutting costs/inputs (reductionist approach), but on generating more wealth/revenue/income (incrementalist approach) that results in reducing the huge external debt, poverty, diseases, frustration, and corruption in most Muslim countries. Three, key to Muslims' socio‐economic happiness is through mutual cooperation for growth and development (Qur'an 42:38, Q3:159).Research limitations/implicationsThe major contributions of this paper are three, firstly, the paper explores a faith‐based integration effort, and secondly, it identifies reasons for low success in the integration efforts among Muslim countries and finally suggests an econometric model based on faith that neglects the artificial geographical barrier.Practical implicationsThe practical implication of the paper is the recommendation to establish a Muslim Economic Bloc because Muslim countries are economically heterogenous group, with uneven development and growth pattern.Originality/valueThe paper is major contribution in the field of Islamic economics and applied economics. Contrary to what we know in the conventional economics, this paper advocates a faith‐based economic model and bloc in a globalised world economy. It is a contribution to existing literature.