Banking Sector and the Development of SMEs in Osun State

The research study investigates the banking sector and the development of small and medium scale enterprises in Osun State. The primary purpose of the study is to know how SMEs can be developed through the intervention of the banking sector. The hypothesis of this study is that SMEs do not play an important role in economic growths and developments of Osun State.Descriptive research design was adopted. The population of the study is the entire SMEs in Osun state and United Bank for Africa (UBA). Questionnaires were used as an instrument of primary data collection. Purposive sampling technique was used to select the sample, correlation analysis was employed. 170 questionnaires were administered but 150 were returned which left 20 questionnaires irrecoverable. Tables and simples percentages were used in data presentation. Four hypotheses were formulated. The finding of the study reveals that there is a positive correlation between loans granted by banks and the growth and development of SMEs in Osun State also, that SMEs cannot be concentrated in Osun State if they are not effectively financed due to the relationship that exists between the banks and SMEs. Based on the findings, it was recommended that guidelines/schemes by commercial banks to finance SMEs needs to be flexible to accommodate the small and medium scale entrepreneurs, the study also recommends that the financial institution needs to put more effort in financing SMEs, their role need to be felt by the SMEs in terms of growth and development. Keywords: banking sector, finance, economic growth, SMEs, loans, entrepreneu

Relationship between Internal Audit and Organization’s Performance: Evidence From Money Deposit Banks in Nigeria

Businesses exist because of the need of investors and entrepreneurs, employees and suppliers of an organization to enable or make their money work for them. This paper examined the relationship between internal audit and sustainable performance in Money Deposit Banks in Nigeria. The objectives of the study are to examine the relationship between internal audit functions and organization performance and to determine the relationship between internal audit procedures and organization performance in money deposit banks in Nigeria. The study employed descriptive research design. The population of the study comprised of all the money deposit banks in Nigeria. The target population of the study was guaranty trust bank located in the south western part of Nigeria specifically in Ogun state. The sampling technique adopted for this study was the purposive sampling. The sampling frame was forty personnel consisting of fifteen audit personnel, twenty accounting officers and five audit trainees within Guaranty Trust Bank Sango Ogun State. Data were collected using primary data through the administering of questionnaire to the respondents. Multiple regression was used in the study to test the relationship between the independent variables and dependent variable. The result from the findings showed that there exist a positive relationship between the independent variables and the dependent variable. The study therefore recommended that organizations should adopt the internal audit functions and comply with the internal audit procedures in order to improve the performance.

Audit Reporting Lag and Firm Value in Nigerian Food and Beverage Companies

Delays in financial reporting give a negative signal to the market and adversely affect the company’s market value. Financial reporting lags raise suspicions among market participants regarding concealment of any potential bad news by a firm, which may affect its share value. Thus, the study investigates the interaction of audit reporting lag and firm value in Nigerian beverage and food companies. Audit delays lead to the late publication of financial statements, enhancing the information asymmetry problem, and affecting firm value. We obtained the data from annual reports of 10 listed companies for five years. The Generalized Method of Moments (GMM) estimation is used to analyze the data. The results suggest that audit delays do not affect the market value of a firm. Previous studies mainly focus on the relationship between corporate governance firm characteristics, and audit reporting lag in Nigeria. To the best of our knowledge, the impact of audit delays on firm value in Nigeria is yet to be adequately explored. The finding may help statutory bodies in reducing the period of financial reporting. The results may also help firms improve their performance and promote an environment that may give investors confidence. This study has focused on the food and beverage sector in Nigeria. Future studies can be undertaken in other sectors which may bring more insight to the issues related to financial reporting lags

Predictors and outcome of acute kidney injury after non-cardiac paediatric surgery

Abstract Background It is necessary to define the problem of acute kidney injury (AKI) after non-cardiac surgery in order to design interventions to prevent AKI. The study aimed to evaluate the occurrence, determinants and outcome of AKI among children undergoing general (non-cardiac) surgery. Methods This was a prospective cohort study of patients aged ≤ 15 years who had general surgery over 18 months period at a tertiary hospital in Nigeria. AKI was evaluated at 6 and 24 h and within 7 days of surgery. Data were analysed using SPSS version 21. Results A total of 93 patients were studied with age ranging from 3 days to 15 years (median = 4 years). AKI occurred within 24 h of surgery in 32 (34.4%) and cumulatively over 7 days in 33 (35.5%). Patients who had sepsis were nearly four times as likely as others to develop perioperative AKI (OR = 3.52, 95% CI 1.21, 10.20, p = 0.021). Crude mortality rate was 12.1% (4/33); no mortality was recorded among those without AKI, p = 0.014. Conclusion Perioperative AKI occurred in 35.5% of children who underwent general (non-cardiac) surgery. Patients who had sepsis were four times more likely than others to develop AKI. Mortality was documented only in patients who had AKI

Comparative performance of SARS-CoV-2 real-time PCR diagnostic assays on samples from Lagos, Nigeria.

A key element in containing the spread of the SARS-CoV-2 infection is quality diagnostics which is affected by several factors. We now report the comparative performance of five real-time diagnostic assays. Nasopharyngeal swab samples were obtained from persons seeking a diagnosis for SARS-CoV-2 infection in Lagos, Nigeria. The comparison was performed on the same negative, low, and high-positive sample set, with viral RNA extracted using the Qiagen Viral RNA Kit. All five assays are one-step reverse transcriptase real-time PCR assays. Testing was done according to each assay's manufacturer instructions for use using real-time PCR platforms. 63 samples were tested using the five qPCR assays, comprising of 15 negative samples, 15 positive samples (Ct = 16-30; one Ct = 35), and 33 samples with Tib MolBiol E-gene Ct value ranging from 36-41. All assays detected all high positive samples correctly. Three assays correctly identified all negative samples while two assays each failed to correctly identify one different negative sample. The consistent detection of positive samples at different Ct/Cq values gives an indication of when to repeat testing and/or establish more stringent in-house cut-off value. The varied performance of different diagnostic assays, mostly with emergency use approvals, for a novel virus is expected. Comparative assays' performance reported may guide laboratories to determine both their repeat testing Ct/Cq range and/or cut-off value

Management and Outcomes Following Surgery for Gastrointestinal Typhoid: An International, Prospective, Multicentre Cohort Study

Background: Gastrointestinal perforation is the most serious complication of typhoid fever, with a high disease burden in low-income countries. Reliable, prospective, contemporary surgical outcome data are scarce in these settings. This study aimed to investigate surgical outcomes following surgery for intestinal typhoid. Methods: Two multicentre, international prospective cohort studies of consecutive patients undergoing surgery for gastrointestinal typhoid perforation were conducted. Outcomes were measured at 30 days and included mortality, surgical site infection, organ space infection and reintervention rate. Multilevel logistic regression models were used to adjust for clinically plausible explanatory variables. Effect estimates are expressed as odds ratios (ORs) alongside their corresponding 95% confidence intervals. Results: A total of 88 patients across the GlobalSurg 1 and GlobalSurg 2 studies were included, from 11 countries. Children comprised 38.6% (34/88) of included patients. Most patients (87/88) had intestinal perforation. The 30-day mortality rate was 9.1% (8/88), which was higher in children (14.7 vs. 5.6%). Surgical site infection was common, at 67.0% (59/88). Organ site infection was common, with 10.2% of patients affected. An ASA grade of III and above was a strong predictor of 30-day post-operative mortality, at the univariable level and following adjustment for explanatory variables (OR 15.82, 95% CI 1.53–163.57, p = 0.021). Conclusions: With high mortality and complication rates, outcomes from surgery for intestinal typhoid remain poor. Future studies in this area should focus on sustainable interventions which can reduce perioperative morbidity. At a policy level, improving these outcomes will require both surgical and public health system advances