About Me

Professor Onafowokan O. OLUYOMBO

B.Sc, M.Sc, MBA, PhD, FCA, ACTI

Oluyombo is the first Professor of Financial Accounting in Nigeria. He holds a Ph.D. from the Department of Accounting and Finance, De Montfort University, Leicester, United Kingdom, where he won the Institute of Chartered Accountants of Nigeria Ph.D. research grant. He also holds a B.Sc. from Olabisi Onabanjo University, an MBA and M.Sc. from the University of Nigeria, and an M.Sc from Lead City University. He qualified as a Chartered Accountant in May 1992 and is a Fellow of the Institute of Chartered Accountants of Nigeria (FCA) and an Associate Member of Chartered Institute of Taxation of Nigeria (ACTI).

 

Prof. Oluyombo currently serves as a member of the Pan Atlantic University Appointment and Promotion Committee, the Senate, and the Management Board of the School of Management and Social Sciences. He was the pioneer Head of the Department of Accounting at Pan Atlantic University from 2015 to 2021; Winner of Innovations for Poverty Action, Yale University, USA grant in 2013, and won the Institute of Chartered Accountants of Nigeria (ICAN) Professorial Inaugural Lecture Grant in 2019.

 

Oluyombo was the Best Academic staff of the year 2012 at the Redeemer’s University, and the year 2009 recipient of the Redeemer’s University Vice-Chancellor Hero Award. A former Managing Director of Redeemer’s University Business Consult Limited, and former editor, Redeemer’s University Journal of Management and Social Sciences. He is a certified Central Bank of Nigeria/Nigeria Deposit Insurance Corporation trainer on microfinance and also won the Redeemer’s University research grant on microfinance in 2011. He also consulted for United Nations Population Funds in Turkey, Serbia, and Egypt on Youth Peer Education Project as an international evaluator (2008) and German Institute for Development Evaluation on Structure Fond as National Expert for Microfinance in Nigeria (2019).

 

Prof. Oluyombo is a renowned researcher, scholar, and prolific writer with scholarly publications in reputable learned journals. His books are Specialised Accounts (2021); Financial Accounting With Ease, 4th edition (2021); Fundamentals of Finance, Money and Banking, 2nd edition (2021); Research Companion for Students and Professionals (2011); My Star Must Shine (2018); Uncommon Favour (2010); and Non-Interest (Islamic) Banking: Principles and Practice (2004). He also edited two international books: Cooperative and Microfinance Revolution (2013); and Cooperative Finance in Developing Economies (2012).

Grants & Awards

  1. Institute of Chartered Accountants of Nigeria (ICAN) PhD Research Grant at De Montfort University, Leicester, United Kingdom. 2011
  2. Redeemer’s University Research Grant on the Impact of Informal Microfinance on Socio-Economic Wellbeing of Rural Dwellers in Ogun State. 2011
  3. Pastor Gbenga Oso Grant for Publication and Editing of an International Book titled Cooperative and Microfinance Revolution. 2013
  4. Institute of Chartered Accountants of Nigeria (ICAN) Professorial Inaugural Lecture Grant 2019
  5.  
  • Redeemer’s University Conference Travel Grant to attend and present paper at the 4th International Finance Conference in Tunisia.  2007
  • De Montfort University Doctoral Support Fund to attend and present paper at the 4th International Research Workshop on Microfinance Management and Governance in France. 2011
  • Return ticket, Accommodation and Transportation – Innovations for Poverty Action (IPA) at Yale University, USA Travel Grant Award to attend Research Methods Workshop on Experimental Design for Savings and Payments in Uganda. 2013
  • Return ticket, Accommodation and Transportation – Innovations for Poverty Action (IPA) at Yale University, USA Travel Grant Award to attend Evidence on Innovations in Savings and Payments Conference in Uganda. 2013
  • Redeemer’s University Conference Travel Grant to attend and present paper at the Conference ‘Coping with Crisis: Re-evaluating the role of Crises in Economic and Social History in United Kingdom. 2013
  • Redeemer’s University Workshop Sponsorship to attend National Workshop and Curriculum Development on the Adoption of International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) in Nigerian Universitiese in Abuja, 2014
  • Pan Atlantic University conference sponsorship to attend and present paper at the 2nd Academic Conference on Accounting and Finance in Lagos, 2016.
  • Pan Atlantic University conference full sponsorship to attend and present paper at the MIRDEC-7th, International Academic Conference on Social Science, Multidisciplinary and Globalization Studies. Madrid, Spain. March 26-29, 2018.
  • Pan Atlantic University conference full sponsorship to attend and present paper at the International Conference on Accounting, Finance and Insurance, Lagos State University, Lagos. June 10 -12, 2019.
  • Pan Atlantic University conference full sponsorship to attend and present paper at the 8th Applied Research Conference in Africa, University of Ghana, Ghana. August 15-17  2019.
  1. Best Student in Financial Accounting at Ijaye Ojokoro High School. 1985
  2. Vice Chancellor Hero Award at Redeemer’s University. 2009
  3. Best Academic Staff of the Year Award at Redeemer’s University. 2012
  4. Guest Speaker, McPherson University College of Management and Social Sciences Students Association. 2019
  5. Guest Speaker, Chartered Institute of Taxation of Nigeria VI-Lekki & District Society Inauguration.  2019
  6. Lead Paper Presenter, 4th Faculty of Social Sciences International Conference, Lagos State University. 2021

Publications

  1. Olabisi, J., Oluyombo, O. O., Dada, J. O., (2019) Cross-Listing and Firms’ Performance: Evidence from Nigeria. Acta Economica Et Turistica, 5(2), pp. 103-121
  2. Oluyombo, O. O. (2019). The Accounting Profession: Throw Back, Throw In and Throw Out. Pan Atlantic University Inaugural Lecture. 9, pp. 1-30.
  3. Okunola, A. O., and Oluyombo, O. O. (2019) Audit practices: A cluster of theories for public sector. Journal of Leadership, Accounting Development and Investigation Research. 3(1), pp. 169-175.
  4. Oluyombo, O. O. (2019) Internally Generated Revenue and Local Government Development. Baze University Journal of Management and Social Sciences. 1(2), pp.132-148.
  5. Oluyombo, O. O. (2019). Micro and Cooperative Finance Programs Beneficiaries’ Assessment: Quality of Life vs. Standard of Living. International Journal of Intellectual Discourse. 1(2), pp. 315 -322.
  6. Oluyombo, O. O. and Okunola, A. O. (2018) Audit Expectation Gap in the Public Sector: A Conceptual Analysis. LAPAI International Journal of Administration. 1(2), pp. 205-215.
  7. Oluyombo, O. O. (2018) Analysis of Cooperative Financial and Enterprises Financial Crises.  African Journal of Management. 3(2), pp. 11-26.
  8. Oluyombo, O. O. (2018) Cooperative Finance and Profitability of Rural Enterprises in Ogun State. Journal of Accounting and Management. 1(1), pp. 162-176.
  9. Oluyombo, O. O. and Olayinka, O. M. (2018) Tax Compliance and Government Revenue Growth in Nigeria. LAPAI International Journal of Administration. 1(2), pp. 245-253
  10. Oluyombo, O. O. (2018) Theories of Poverty and Rural Finance Policy in Nigeria. Jigawa Journal of Politics 1(1), pp. 130-144.
  11. Oluyombo, O. (2014) Talent Management in Nigerian Banks. Bank Quest.   85, No. 3, pp. 132-138
  12. Oluyombo, O. (2014) Co-operative Society Finance and Socio-economic Well-being of Participants’ Children. Journal of Banking. 8, No. 1, pp. 77-92
  13. Aina, S. and Oluyombo, O. (2014) The Economy of Financial Inclusion in Nigeria: Theory, Practice and Policy. CIBN Occasional Papers Series. 1, No. 1, pp. i-32.
  14. Oluyombo, O. (2013) Household Assets and Rural Finance in Nigeria. Applied Economics Journal. 20, No. 2, pp. 55-74.
  15. Oluyombo, O. (2013) The Role of Cooperative Societies on Standard of Living in Ogun State, Nigeria. ICAN Journal of Accounting and Finance. 2, No. 1, pp. 133-142.
  16. Oluyombo, O. (2013) Impact of Cooperative Societies Savings Scheme in Rural Finance: Some Evidence from Nigeria. Economic Review – Journal of Economics and Business, Vol. XI, Issue 1, pp. 77-88.
  17. Oluyombo, O. (2013) The Role of Co-operative Loans in Rural Finance: Evidence from Ogun State, Nigeria. Journal of Co-operative Studies. Vol. 46. No. 1, pp. 5-15.
  18. Oluyombo, O. (2013) Impact of Cooperative Finance on Household Income Generation. DLSU Business and Economic Review. Vol. 23, No. 1, pp. 53-65.
  19. Oluyombo, O. (2011) Impact of Informal Microfinance on Rural Enterprises. Journal of Research in National Development, Vol. 9, No. 1b, pp. 258-264.
  20. Oluyombo, O. O. (2011) The Impact of Microfinance Bank Credits on Economic Development of Nigeria (1992 – 2006) International Journal of Development and Management Review, 6 No. 1, pp. 139-150.
  21. Oluyombo, O. O. (2010) Assessing the Impact of Savings and Credit Cooperatives Among Monthly Income Earners. Journal of Research in National Development, Vol. 8, No 2b, pp 407-415.
  22. Oluyombo, O. O. and Olabisi, J. B. (2008) Risk Management in Microfinance Institutions. Journal of Applied Economics, 1 No. 1, pp 104-112.
  23. Oluyombo, O. O. and Ikomi, F. M. (2008) The Nigerian Banking Sector Regulation and Economic Development. Journal of Business Management, 2 No. 1 & 2, pp 83-96.
  24. Oluyombo, O. O. (2007) Funding of Small Scale Enterprises: The Microfinance Option. Ilorin Journal of Business and Social Sciences, 12 No. 1, pp 1-9.
  25. Oluyombo, O. O. and Ogundimu, M. K. (2007) Financial Industry Reform and the Capital Base Question in Nigeria. International Journal of Development and Management Review, 2 No. 1, pp 189-199.
  26. Oluyombo, O. O. (2007) Regulatory and Supervisory Framework for Microfinance Institutions in Nigeria. Euro-Mediterranean Economics and Finance Review, 2 No. 3, pp 301-308.
  27. Oluyombo, O. O. (2007) Developing Microfinance Banking in Nigeria. Babcock Journal of Management and Social Sciences, 6 No. 1, pp 126-134.
  28. Oluyombo, O. O. and Ogundimu, M. K. (2006) Microfinance as a Strategy for Poverty Alleviation in Nigeria. Journal of Business Management, 1 No 1, pp 71-79.
  29. Oluyombo, O. O. (2005) Regulatory Framework for Interest Free Banking in Nigeria. Journal of Banking, 1, No. 1, pp 29-53.
  30. Oluyombo, O. O. (2005) Interest Free Banking in Nigeria: The Way Forward. The Journal of Banking and Finance, 7, No. 2, pp 37-47.
  31. Oluyombo, O. O. (2004) Financial Empowerment of Female Entrepreneurs in Nigeria. Journal of Management and Enterprise Development, 1, No. 1, pp. 25-31.

 

  1. Oluyombo, O. O. and Joseph, O. (2021) Theory in Accounting Faculty Textbooks Selection towards Accountability and Public Sector Governance. In Bolarinwa, S. A. and Idowu, K. A. eds. Public Sector Governance: Perspectives on Accountability. Lagos: Lagos State University (In press)
  2. Oluyombo, O. O. (2021) Parents Socio-Economic Status and Children Academic Performance. In Mainoma, M. A., Oyedokun, G. E., Kabiru Aderemi Adeyemo, K. A., Aruwa, S. A. S., and Asaolu, T. O. eds. Taxation for Economic Development. Lagos: OGE Business School. pp 216-239.
  3. Oluyombo, O. O. (2020) Accounting for Theories in Sustainable Economic Growth. In Oshin, O., Sogunro, B., Joseph, I., and Aluko, O. eds. Reinvigorating Nigerian Universities for Sustainable Development. Oyo: Ajayi Crowther University. pp 398-408.
  4. Oluyombo, O. O. (2017) The History and Political Economy of Banking Sector Reforms in Nigeria and Ghana. In Enwere, C., Aytac, O. and Khalil-Babatunde, M. eds. A Comparative Study of Nigeria: Lessons from the Global South. Abuja: Nile University of Nigeria. pp. 99-120.
  5. Oluyombo, O. O. and Iriobe, G. O. (2017) Microfinance Impact Assessment Methodologies: Is it Qualitative, Quantitative or Both? In Cumming, D; Dong, Y; Hou, W; and Sen, B. Microfinance for Entrepreneurial Development: Sustainability and Inclusion in Emerging Markets. United Kingdom:  Palgrave Macmillan. pp 153-168.
  6. Oluyombo, O. O. and Jallow, K. (2013) Do Informal Microfinance Loans Meet the Financial Needs of Rural Dwellers? In O. O. Oluyombo, ed. Cooperative and Microfinance Revolution. Lagos: Soma Prints Limited, 129-141.
  7. Oluyombo, O. O. (2013) Cooperative and Microfinance: Any Revolution? In O. O. Oluyombo, ed. Cooperative and Microfinance Revolution. Lagos: Soma Prints Limited, 1-8
  8. Oluyombo, O. O. (2012) The Place of Cooperatives in Nigerian Microfinance. In O. O. Oluyombo, ed. Cooperative Finance in Developing Economies. Lagos: Soma Prints Limited, pp. 81-95.
  9. Oluyombo, O. O. (2012) Introduction. In O. O. Oluyombo, ed. Cooperative Finance in Developing Economies. Lagos: Soma Prints Limited, pp. 1-7.
  1. Oluyombo, O. O. (2013) Cooperative and Microfinance Revolution. Lagos: Soma Prints Limited[1].
  2. Oluyombo, O. O. (2012) Cooperative Finance in Developing Economies. Lagos: Soma Prints Limited[2].
  1. Oluyombo, O. (2016) Poverty and Rural Finance in Africa: Moving Theories into Policies. 2016 ICAN Published Refereed Conference Proceedings. 711-724. (Lagos)
  2. Oluyombo, O. O. (2013) The Impact of Informal Microfinance on Enterprise Financial Crises. Conference on Coping with Crisis: Re-evaluating the Role of Crises in Economic and Social History. pp. 33 (Durham)
  3. Oluyombo, O. O. (2010) Assessment of Rural Sustainable Development by Microfinance Banks in Nigeria. IESD PhD Conference: Energy and Sustainable Development. pp. 126-137. (Leicester)
  1. Oluyombo, O. O. (2021) Specialised Accounts. Ogun: Kings & Queen Associates
  2. Oluyombo, O. O. (2021) Financial Accounting With Ease. 4th edition. Ogun: Kings & Queen Associates.
  3. Oluyombo, O. O. (2021) Fundamentals of Finance, Money and Banking. 2nd edition. Ogun: Kings & Queen Associates.
  4. Oluyombo, O. O. (2018) My Star Must Shine. Ogun: Kings & Queen Associates
  5. Oluyombo, O. O. (2017) Introduction to Financial Accounting. Lagos: National Open University of Nigeria
  6. Oluyombo, O. O. (2016) Basics of Financial Markets. Lagos: Phillips Consulting Ltd.
  7. Oluyombo, O. O. (2016) Basics of Banking. Lagos: Phillips Consulting Ltd.
  8. Oluyombo, O. O. (2011) Research Companion for Students and Professional. Ogun: Treasure Land Academy.
  9. Oluyombo, O. O. (2004) Non-Interest (Islamic) Banking: Principles and Practice. Lagos: Kings & Queen Associates.
  1. Oluyombo, O. O; Mohanty, B. P. and Lambert, S (2008) United Nations Population Fund (UNFPA) Youth Peer Education Evaluation Report for Serbia. Being the outcome of the evaluation conducted in Serbia. January 21-25.
  2. Mohanty, B. P. and Oluyombo, O. O. (2008) United Nations Population Fund (UNFPA) Youth Peer Education Evaluation Report for Egypt. Being the outcome of the evaluation conducted in Egypt. January 27-29.
  3. Debattista, J. and Oluyombo, O. O. (2008) United Nations Population Fund (UNFPA) Youth Peer Education Evaluation Report for Turkey. Being the outcome of the evaluation conducted in Turkey. January 30 – February 2.
  4. Oluyombo, O. O. (2012) Redeemer’s University. Assessing the Impact of Informal Microfinance on Socio-economic Wellbeing of Rural Dwellers in Ogun State, Nigeria. Being the outcome of the research conducted in 2011-2012.
  1. Redeemer’s University Journal of Management and Social Sciences. Vol. 3, No. 1, June 2015.
  2. Redeemer’s University Journal of Management and Social Sciences. Vol. 2, No. 2, December 2014.
  3. Redeemer’s University Journal of Management and Social Sciences. Vol. 2, No. 1, June 2014.
  4. Redeemer’s University Journal of Management and Social Sciences. Vol. 1, No. 2, December 2013.
  5. Redeemer’s University Journal of Management and Social Sciences. Vol. 1, No. 1, June 2013.
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"You can not serve God and be stranded in the journey of life"

Prof. O. O. Oluyombo