Assessing the Effective Management of Financial Resources among Community Based Organizations in Metropolitan Lagos

Jubril.O.Jawando and Funmilayo A.Tanimola
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Jubril.O.Jawando: Department of Sociology, Lagos State University, Ojo, Nigeria
Funmilayo A.Tanimola: Department of Sociology, University of Ibadan, Ibadan, Nigeria

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 1, 609-618

Abstract: The paper examines the effective management of financial resources among community based organization (CBOs) in metropolitan Lagos. Using the community action model as its theoretical leaning, 40 in-depth interviews and 16 key informants were selected for the study. The findings show that majority of the respondents affirmed that CBOs provide the platform for organizing, planning and executing plans with community resources for developmental projects for the wellbeing of its members. Also, the study established that the issue of financial management has been the bane of most of the CBOs in the communities. It was observed that there is high level of financial mismanagement by executives, high-handedness, executives holding on to power, cover up, favouritism and corruption. The paper conclude that there is the need to establish a strong supervisory and regulatory authority that will be backed by law consisting of various stakeholders in various fields of human endeavours.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:7:y:2023:i:1:p:609-618

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