CASH MANAGEMENT AND PERFORMANCE OF JEZCO OIL LIMITED, AWKA, ANAMBRA STATE
Keywords:
cash, performance, cash management, manufacturing industry, Anambra State.Abstract
Cash management is essential to the survival, growth and performance of any manufacturing
industry. This study thus examined cash management and the performance of Jezco Oil Ltd,
Awka, Anambra State. The specific objectives are; to determine the level of relationship that
exists between treasury bill and production cost; to examine the degree of relationship that
exists between saving bond and production volume; to evaluate the extent of relationship that
exists between certificate of deposit and operation efficiency. Survey research design was
adopted for this study, the population of the study comprises 70 employees both the
management, junior and senior staff in various departments in Jezco Oil Ltd Awka. A sample
size of 59 were selected randomly for this study. Data was collected with use of primary source
which was obtained from respondents through a structured questionnaires formulated by the
researcher. Data was analyzed with Pearson product moment correlation through simple
linear regression with SPSS version 23. The findings of the study show that treasury bill has
significant effect on production cost with a (R-square of 0.950, at p-value < .001), there is a
significant effect of saving bound on production volume (R-square of 0.958, at p-value <
.001), certificate of deposit has a significant effect on operation efficiency (R-square of 0.939,
at p-value < .001). The study conclude that cash management has a significant effect on
manufacturing industry performance. The study recommends that Companies should
prioritize effective cash management strategies: Given the significant impact of cash
management factors on production costs, it is crucial for manufacturing companies to
implement effective strategies to manage their cash flow.