Prof. Celestine Sunday Ogonna Okaro
Prof. Celestine Sunday Ogonna Okaro is a PROFESSOR in BANKING AND FINANCE Department, Faculty Of Management Sciences in Nnamdi Azikiwe University
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Staff Profile
Prof. Celestine Sunday Ogonna Okaro Dip.Banking, B.Sc. Banking, MBA Banking, MBA Banking & Finance, Ph.D.Banking & Finance
Area of Academic and Research Interest: Investment Banking,Finance, Fintech and Capital Markets, Monetary and Fiscal Policy, Financial Technology, Deepening and Inclusion.
Pro. Celestine Sunday Ogonna Okaro is a Professor Investment Banking, Finance,Fintech
and Capital Markets at Nnamdi Azikiwe University, Awka, Anambra State, Nigeria. He received undergraduate trainings at Institute of Management and Technology (IMT), Enugu and Anambra State University of Technology (ASUTECH), Enugu (now Enugu State University of Technology (ESUT), Enugu), two Master’s Degrees and a Ph.D Degree in Banking and Finance at Nnamdi Azikiwe University. He was promoted to the rank of Reader in 2017, and on December 7, 2022 he was promoted to the rank of Professor(effective, October 1, 2020),specializing in Investment Banking Finance, Fintech and Capital Markets, and International aspects of Banking and Finance. He taught various aspects of Banking and Finance at both undergraduate and postgraduate levels within and outside the University. He is one of the pioneer lecturers at Central Bank of Nigeria (CBN) Centre for Economics and Finance located at University of Nigeria, Enugu Campus. He is a certified trainer of Microfinance Distance Learning Course organized by Asian Development Bank Institute, African Development Bank and Tokyo Development Learning Centre, the World Bank.
Dr. Okaro has attended many international Seminars, conferences and workshops in Banking, Finance and Management issues within and outside the country. He is the author of many books and journal articles (national and international). His current teaching interests include, investment banking and capital markets, international banking and finance, regulation of financial institutions, banking laws and regulations, corporate financial management, monetary and fiscal policy. Dr.Okaro has successfully supervised over 100 undergraduate projects and 42 postgraduate thesis/dissertations. He is currently involved in research and writing on emerging countries capital markets. Dr. Okaro has served the University in various capacities as Head of Department, Faculty Sub-Dean, Faculty Senate Representative, Deputy Coordinator University Transport Services and numerous Senate and University committees. He a member of many professional bodies.
Personal Information
Email: | |
Phone: | |
Address: | Banking And Finance, Faculty Of Management Sciences, Nnamdi Azikiwe University, Awka. |
Faculty/Unit: | FACULTY OF MANAGEMENT SCIENCES |
Department/Sub-Unit: | BANKING AND FINANCE |
Social Profiles
Interest Areas
Academic Qualifications
| Degrees / Basic Certificates | |
|---|---|
| 1 | Nnamdi Azikiwe University, Awka. (Doctor of Philosophy, September, 2016) July, 2009 to October, 2016 Ph.D. Banking & Finance |
| 2 | Nnamdi Azikiwe University, Awka. (Master Degree, September, 1993) July, 1991 to June, 1993 MBA Banking & Finance |
| 3 | Anambra State University Of Technology (ASUTECH), Enugu. (Bachelor Degree, October, 1990) September, 1987 to September, 1990 B.Sc. Banking |
| 4 | Institute Of Management And Technology (IMT), Enugu. (OND, September, 1987) September, 1985 to September, 1987 OND Banking |
| 5 | Oraukwu Grammer School, Oraukwu. (SSCE, June, 1983) September, 1978 to June, 1983 WAEC/GCE |
| 6 | Ogidi Central School, Ogidi. (FSLC, September, 1978) September, 1972 to September, 1978 FSLC Primary Education |
Relevant/Working Experience
| 1 | i.Deputy Coordinator University Transport Services (2019 – Date) ii. Postgraduate Coordinator, Department of Banking & Finance (2017- 2020 ) iii. Head of Department, Banking & Finance, (200, Nnamdi Azikiwe University, Awka May, 1993 to Present |
Creative Output
| Books | |
|---|---|
| 1 | CELESTINE SUNDAY OGONNA OKARO. (2020, July) MONEY, BANKING METHODS AND PROCESSES VALICH PRINTING AND PUBLISHERS in ASSOCIATION WITH ABIMAC PUBLISHERS |
| 2 | CELESTINE SUNDAY OGONNA OKARO. (2013, May) BANKING LAWS AND REGULATIONS ABIMAC PUBLISHERS |
| 3 | CELESTINE SUNDAY OGONNA OKARO, CLEMENT C.ONYEKWELU. (2003, August) MONEY, BANKING METHODS AND PROCESSES VALICH PRINTING AND PUBLISHERS in ASSOCIATION WITH ABIMAC PUBLISHERS |
| 4 | CELESTINE SUNDAY OGONNA OKARO. (2000, September) UNDERSTANDING ECONOMICS CECTA (NIG) LTD |
| Journal Articles | |
| 1 | OKARO, ANYAMOBI. (2022, September), "Arbitrage Pricing Theory and Sectorial Stock Return: A Multi-Dimensional Data Evidence of Nigeria Manufacturing Sector", RSU Journal of Internet Business, Vol. 6, (Issue 3), pp 2037-55 |
| 2 | Okaro,C.S.O, Anyamobi, C.. (2021, March), "Arbitrage Pricing Theory And Sectorial Stock Return: Evidence From Quoted Financial Institutions in Nigeria", Nigerian Journal of Financial Studies (NJFS), Vol. -1, (Issue -1), pp 285-298 |
| 3 | Amalachukwu Chijindu Ananwude, Steve Nkem Ibenta, Gideon Kasie Ezu, Celestine Sunday Okaro. (2021, April), "Commercial Banks Regulation And Intermediation Function In An Emerging Market", Unknown Journal or Publisher, Vol. 13, (Issue 1), pp 78-91 |
| 4 | Francis Uju Adoms, Henry Yua, Celestine S. Okaro, Kelechukwu Stanley Ogbonna. (2020, May), "Capital Market And Economic Development: A Comparative Study Of Three Sub-Saharan African Emerging Economies", Unknown Journal or Publisher, Vol. 10, pp 963-987 |
| 5 | YUA Henry, OKONKWO, Ikeotuonye Victor, OKARO, Celestine Sunday,OGBONNA, Kelechukwu Stanley. (2020, April), "Effect Of Financial Structure And Economic Growth In Sub- Sahara Africa Economies. A Comparative Study Of South Africa And Kenya", Unknown Journal or Publisher, Vol. 22, (Issue 4), pp 31-43 |
| 6 | IBENYENWA, Ekene Kingsley, NWAKOBY, Clem, OKARO, Celestine S., OGBONNA, Kelechukwu Stanley. (2020, March), "Interest Rate And Deposit Money Banks Credit: A Study Of Nigeria And South Africa", Unknown Journal or Publisher, Vol. 22, (Issue 3), pp 57-67 |
| 7 | Francis Uju Adoms, Henry Yua, Celestine S. Okaro, Kelechukwu Stanley Ogbonna. (2020, March), "Causal Relationship Between Financial Structure And Economic Growth In Contemporary African Economy: A Case Study Of Nigeria From 1990-2018", Unknown Journal or Publisher, Vol. 8, (Issue 3), pp 59-68 |
| 8 | Celestine S. Okaro, Kelechukwu Stanley Ogbonna, Izundu,Gloria, Igwe, Ihuoma Elizabeth. (2020, March), "Interaction Between Monetary Policy And Stock Market Performance: Evidence From Selected Developing African Economies (1986- 2016)", Unknown Journal or Publisher, Vol. 11, (Issue 2), pp 35-46 |
| 9 | IBENYENWA, Ekene Kingsley, OKARO, Celestine S., OGBONNA, Kelechukwu Stanley, Chris-Ejiogu, Uzoamaka Gloria. (2019, June), "Interaction Between Monetary Policy And Stock Market Performance: Evidence From Selected Developing African Economies (1986- 2016)", Unknown Journal or Publisher, Vol. 3, (Issue 3), pp 405-413 |
| 10 | Okaro, Celestine Sunday Ogonna, Okeke,Chukwunonso Kingsley, Uzondu, Chikodiri Scholastica. (2018, September), "Efficiency Of The Black-Scholes Option Pricing Model In The Pricing Of Palm-Oil Futures In Nigeria’s Physical Market.", Unknown Journal or Publisher, Vol. 2, (Issue 9), pp 83-92 |
| 11 | Patrick Kanayo Adigwe, Celestine Sunday Okaro, Ikenna Justin Emejulu, Amalachukwu Chijindu Ananwude. (2018, March), "Banking Sector Operations And Foreign Direct Investment In Nigeria: A Causality Analysis", Unknown Journal or Publisher, Vol. 1, (Issue 2), pp 60-75 |
| 12 | IZEKOR, Andrew Osaretin, OKARO, Celestine Sunday. (2018, January), "Effect Of Corruption On Crude Oil Revenue Earnings In Nigeria (1996 - 2015)", Unknown Journal or Publisher, Vol. 5, (Issue 1), pp 9-15 |
| 13 | Francis Uju Adoms, Celestine S. Okaro, Kelechukwu Stanley Ogbonna, Uzondu,Chikodiri Scholastica. (2018, March), "FINANCIAL SECTOR PERFORMANCE AND ECONOMIC GROWTH VIS-A-VIS DEVELOPMENT IN NIGERIA: A GRANGER CAUSALITY APPROACH", Unknown Journal or Publisher, Vol. 3, (Issue 6), pp 20-27 |
| 14 | OKARO, C.S, ECHEKOBA,F.N., ANANWUDE, A.C, AKUESODO, O.. (2017, December), "Monetary Policy And Capital Market Performance: An Empirical Evidence From Nigerian Data", Unknown Journal or Publisher, Vol. 1, (Issue 3), pp 1-5 |
| 15 | OBI-NWOSU, Victoria Ogochukwu, OKARO, Celestine, OGBONNA, Kelechukwu Stanley, ATSANAN, Angela Nguna. (2017, April), "EFFECT OF LIQUIDITY ON PERFORMANCE OF DEPOSIT MONEY BANKS", Unknown Journal or Publisher, Vol. 2, (Issue 4), pp 1281-1290 |
| 16 | OKARO, CELESTINE SUNDAY. (2017, February), "CURRENCY DEVALUATION AND NIGERIAN ECONOMIC GROWTH (2000-2015)", Unknown Journal or Publisher, Vol. 6, (Issue 1), pp 25-37 |
| 17 | CELESTINE SUNDAY OKARO. (2016, November), "FINANCIAL INCLUSION AND NIGERIAN ECONOMY (1990-2015)", Unknown Journal or Publisher, Vol. 10, (Issue 4), pp 50-65 |
| 18 | CELESTINE SUNDAY OKARO. (2016, November), "FOREIGN DIRECT INVESTMENT (FDI) INFLOWS AND REAL SECTOR OF NIGERIAN ECONOMY (2000-2015)", Unknown Journal or Publisher, Vol. 10, (Issue 4), pp 128-139 |
| 19 | NWAKOBY, Clement, OKARO, Celestine Sunday Ogonna, Ananwude, Amalachukwu Chijindu. (2016, August), "FISCAL DEFICIT AND INFLATION IN AN OIL RICH EXPORTING COUNTRY: EVIDENCE FROM NIGERIA", Unknown Journal or Publisher, Vol. 10, (Issue 3), pp 140-155 |
| 20 | NWAKOBY, Clement, OKARO, Celestine Sunday. (2016, August), "EFFECT OF LIQUIDITY MANAGEMENT ON PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA (2000-2015)", Unknown Journal or Publisher, Vol. 10, (Issue 3), pp 156-168 |
| 21 | CELESTINE SUNDAY OGONNA OKARO. (2016, October), "MONETARY POLICY, THE CONTROL OF MONEY SUPPLY AND ITS EFFECTS ON THE PROFITABILITY OF DEPOSIT MONEY BANKS IN NIGERIA (1999-2013)", Unknown Journal or Publisher, Vol. 5, (Issue 5), pp 56-70 |
| 22 | CELESTINE SUNDAY OGONNA OKARO. (2016, October), "DEPOSIT MONEY BANKS’ CREDIT AND NIGERIAN ECONOMIC GROWTH AND DEVELOPMENT (1981-2015)", Unknown Journal or Publisher, Vol. 5, (Issue 5), pp 106-123 |
| 23 | CELESTINE SUNDAY OGONNA OKARO. (2011, April), "Transmission Mechanism Of Monetary Policy In Nigeria", AFRICAN BANKING & REVIEW (DEPARTMENT OF BANKING AND FINANCE, UNIZIK, AWKA, Vol. 1, (Issue 2), pp 68-85 |
| 24 | CELESTINE SUNDAY OGONNA OKARO. (2011, October), "Transmission Mechanism Of Monetary Policy And Bank Credit In Nigeria", Unknown Journal or Publisher, Vol. 6, (Issue 3), pp 19-31 |
| 25 | CELESTINE SUNDAY OGONNA OKARO. (2010, October), "INFORMATION COMMUNICATION TECHNOLOGIES (ICTs) AND ENVIRO-MARKETING: HOW STRTEGIC ARE THE COMPANIES", Unknown Journal or Publisher, Vol. 2, (Issue 1), pp 6-25 |
| 26 | CELESTINE SUNDAY OGONNA OKARO. (2007, December), "Perception Of High-technology Products And Services By Bank Customers In Anambra State", Unknown Journal or Publisher, Vol. 5, (Issue 1), pp 144-167 |
| 27 | CELESTINE SUNDAY OGONNA OKARO. (2003, June), "Marketing Of Special Financial Services (using Leasing And Loan Syndication As Illustrations).", Unknown Journal or Publisher, Vol. 2, (Issue 1), pp 156-162 |
| 28 | CELESTINE SUNDAY OGONNA OKARO. (2003, June), "Effective Costing Of Financial Services: Fixing Of Tariff Levels (mechanics And Considerations).", Unknown Journal or Publisher, Vol. 2, (Issue 1), pp 190-195 |
| 29 | CELESTINE SUNDAY OGONNA OKARO. (2001, January), "Vehicle Leasing In A Recessionary Economy: A Study Of Intercity Passenger Operations Scheme In Nigeria", FACULTY OF MANAGEMENT SCIENCES, UNIZIK, AWKA, Vol. 5, (Issue 1), pp 141-153 |
| 30 | CELESTINE SUNDAY OGONNA OKARO, NZEGWU, LOUIS I.. (1996, March), "THE NIGERIAN FINANCIAL MARKETS: GROWTH, PERFORMANCE, APPRAISAL AND PROSPECTS", Unknown Journal or Publisher, Vol. 10, pp 239-247 |
| Conference Papers | |
| 1 | IBENYENWA, Ekene Kingsley, OKARO, Celestine S., OGBONNA, Kelechukwu Stanley, Chris-Ejiogu, Uzoamaka Gloria. (2019, October), "Effect Of Dividend Policy On Shareholders’s Value: Evidence From Consumer Goods Firms Quoted In Nigerian Stock Exchange:2011-2015", FACULTY OF MANAGEMENT SCIENCES, UNIZIK, AWKA, pp 278-287 |
| 2 | CELESTINE SUNDAY OGONNA OKARO, REV. LEO ONWUZULIGBO, AMAKOR IFEOMA CHINELO. (2016, November), "Effects Of Introduction Of Higher Currency Note On Selected Macro Economic Variables In Nigeria", FACULTY OF MANAGEMENT SCIENCES, UNIZIK, AWKA, pp 817-829 |
| 3 | CELESTINE SUNDAY OGONNA OKARO. (2002, November), "Training And Retraining Of Professionals- Challenges Of The New Millennium.", ASSOCIATION OF PROFESSIONAL BODIES OF NIGERIA, pp 1-13 |
| 4 | CELESTINE SUNDAY OKARO, LOUIS I. NZEGWU. (1996, March), "THE NIGERIAN FINANCIAL MARKETS: GROWTH, PERFORMANCE, APPRAISAL AND PROSPECTS", , Vol. 10, pp 239-247 |
| 5 | CELESTINE SUNDAY OGONNA OKARO, NZEGWU, LOUIS I.. (1996, March), "Accelerating Inflation And Accelerating Unemployment: A Diagnosis Of Nigerian Case", |
Academic Leadership Qualities
| Supervisions | |
|---|---|
| 1 | "Financial Structure and Economic Growth - Evidence from Selected Sub-Saharan African Countries: 1990-2019" (2021). Completed Doctorate project by YUA, HENRY 2017417004 |
| 2 | "Capital Market and Economic Development: A Comparative Study of Three Sub-Saharan African Emerging Economies:1990-2019" (2021). Completed Doctorate project by ADOMS, FRANCIS UJU 2017417001F |
| 3 | "Value Added Tax Revenue and Nigeria’s Economy" (2020). Completed Doctorate project by AFOLAYAN, SEGUN MATTHEW 2015417008F |
| 4 | "Effect of Fiscal Policy on Selected Macroeconomic Variables in Nigeria: 1981-2016." (2018). Completed Doctorate project by OBIOHA, VALERIA 2015417004F |
| 5 | "Empirical Analysis of Determinants of Bond Market Development in Nigeria and South Africa." (2018). Completed Doctorate project by OKAFOR, CHIOMA 2013417009P |
| 6 | "External Sector and Economic Growth of Nigeria and South Africa Economies : 1986 - 2017" (2018). Completed Doctorate project by OGBONNA, STANLEY 2014417009F |
| 7 | "Financial Crisis, Crude Oil Price Shocks and Nigerian Foreign Exchange Reserves : 1993 – 2016." (2018). Completed Doctorate project by IZEKOR, ANDREW 2014417003F |
| 8 | "Effect of Federal Government Tax Revenue on the Nigerian Economy : 1992 - 2016" (2018). Completed Doctorate project by MOJEKWU, KENECHUKWU 2014417001P |
| 9 | "Effect of insurance investments on Nigerian economic development: 1986-2016" (2019). Completed Doctorate project by EZEKWE, KENNETH 2013417002F |
| 10 | "Effect of Corporate Governance Practices on Profitability of DMBs in Nigeria." (2018). Completed Doctorate project by UBI, HARRISON 2012417007P |
| 11 | "Effect of Corporate Governance Mechanisms on Performance of Nigerian Listed firms" (2017). Completed Doctorate project by GBADEBO, ABRAHAM OKETOYIN 2011407005F |
| 12 | "MICRO, SMALL AND MEDIUM ENTERPRISES SECTOR AND NIGERIAN ECONOMIC DEVELOPMENT" (2021). Completed Masters project by CHUKWUKA, NNAMDI CHUKWUEMEKA 2017416004F |
| 13 | "SELECTED MACROECONOMIC VARIABLES AND FDI INFLOWS IN NIGERIA: 1986-2018" (2021). Completed Masters project by ABUBAKAR, SHAMSUDDEN 2013416008F |
| 14 | "Effect of Consolidation of Insurance Industry on Growth of Nigerian Economy" (2019). Completed Masters project by OGBOGU, SHALOM ONYINYE 2015416002F |
| 15 | "Micro Finance Banks and Economic Development in Nigeria :1996-2016" (2019). Completed Masters project by ONYEGIRI, PAUL KENECHUKWU 2015416010F |
| 16 | "Effect of Deficit Financing on Economic Growth in Nigeria: 1986 - 2016" (2019). Completed Masters project by OKAH, JOHN OKACHUKWU 2014416011F |
| 17 | "FINANCING OF INVESTMENTS IN NIGERIA THROUGH THE NIGERIAN CAPITAL MARKET- AN EMPIRICAL ANALYSIS" (2005). Completed Masters project by GBENOBA A. CHUKS 20004160269 |
| 18 | "APPRAISAL OF CREDIT IN BANKS" (2005). Completed Masters project by OKOH, JOHNSON 2000416019 |
| Grants | |
| 1 | Awardee: "SPONSORSHIP TO 3 DAYS WORKSHOP ON ECONOMETRICS etc" (March, 2017 to April, 2017). Completed sponsored grant by DEPARTMENT OF BANKING AND FINANCE, UNIZIK, AWKA |
| 2 | Awardee: "MICROFINANCE TRAINING OF TRAINERS BLENDED LEARNING COURSE" (December, 2010 to March, 2011). Completed sponsored grant by ASIAN DEVELOPMENT BANK, AFRICAN DEVELOPMENT BANK , TOKYO DEVELOPMENT LEARNING CENTER- THE WORLD BANK |
| 3 | Awardee: "Fully Certified Trainer of the Microfinance Distance Learning Course." (December, 2010 to April, 2011). Completed sponsored grant by Asian Development Bank Institute and African Development Bank and Tokyo Development Learning Center |
| Editorships | |
| 1 | Editor, "JOURNAL OF BANKING AND FINANCE, UNIZIK, AWKA" (April, 2015) |
| Examinerships | |
| 1 | Chief Examiner, "UNDERGRADUATE DEGREE EXAMINATION" (July, 2018 to July, 2019). Completed External Exam |
Relevant Events Attended
| Other Events | |
|---|---|
| 1 | "ENHANCEMENT OF SERVICE DELIVERY IN THE UNIVERSITY", (NNANDI AZIKIWE UNIVERSITY MANAGEMENT), 4th December, 2019 to 5th December, 2019; Nnamdi Azikiwe University, Awka Auditorium |
| 2 | "Managing Nigeria Economic Diverfication: Lessons From Other Climes", (Faculty of Management Sciences), 13th June, 2019 to 14th June, 2019; Nnamdi Azikiwe University, Awka |
| 3 | "BASICS OF RESEARCH AND ECONOMETRICS MODELING, ESTIMATIONS AND INTERPRETATIONS. ADVANCED RESARCH METHODOLOGICAL ISSUES; ADVANCED ECONOMETRIC MODELLING, ESTIMATION, AND INTERPRETATION OF RESULTS.", (THE INTERNATIONAL ACADEMY OF BUSINESS AND BEHAVIORAL SCIENCES (IABBS) CT, USA), 3rd August, 2017 to 5th August, 2017; UNIVERSITY OF PORT HARCOURT |
| 4 | "Managing Diversification For Sustainable Development In Sub-Saharan Africa", (Faculty of Management Sciences), 8th November, 2016 to 10th November, 2016; Nnamdi Azikiwe University, Awka |
| 5 | "The Role Of Professionals In A Developing Economy", (Association of Professional Bodies of Nigeria), 14th November, 2002 to 14th November, 2002; Ikenga Hotels , Awka |
| 6 | "MIDWEST REVIEW OF INTERNATIONAL BUSINESS RESEARCH", (MIDWEST BUSINESS ADMINISTRATION ASSOCIATION, CHICAGO, ILLINOIS), 13th March, 1996 to 15th March, 1996; THE PALMER HOUSE, CHICAGO, ILLINOIS |