Offshore Banking and the Financial Performance: A Study of Selected Nigerian Banks with Offshore Branches

Some Nigerian banks have found it worthwhile to extend their branch expansions to some offshore locations. However, this move also made the Central Bank of Nigeria to issue a circular in 2008 to all Banks to ensure the viability of the offshore branches while protecting the shareholders’ funds and interests. The study employed ex post facto research design, descriptive and empirical analysis methods. Analyses were based on published data on relevant performance index of the banks and operating indices of their offshore branches. Three banks were selected for the study from the seven banks that operated offshore branches. Data were extracted from the annual reports for 2009-2012 period. Empirical analysis was anchored on regression model. Profit before tax was treated as the performance index and, thus, entered the model as the explained variable while operating income, deposits, loans and advances, other assets and profit before tax of the offshore branches entered as the explanatory variables. The intercept of the model and the coefficients of the operating indices were estimated via the Least Squares (LS) techniques. The results revealed that banks recorded varying values in offshore operating indicators. Ghana proved to be a more lucrative location for banking business. Operating incomes and deposits did not significantly affect the profit before tax of the banks as evidenced by the p-values of the t-statistic of their coefficients (p-value = 0.1309 > 0.05 and p-value = 0.3311 > 0.05) respectively, and that loans and advances exerted negative but insignificant effect as shown by the p-value of 0.8594 which was less that the relevant level of 0.05. The aggregate effect of the operating indices was found to be significant. The operating indicators exhibited high strength (99%) in explaining variations in performance of the parent banks as evidenced by the very high R-Squared 0.99. Consequently, the study concluded that offshore banking possesses great potentials to determine and explain banks’ performance. Recommendations, amongst others, were that Nigerian Banks currently operating offshore branches should deepen their banking business for optimal performance. The Central Bank of Nigeria should enhance its supervisory capacity with additional monitoring strategies. Key Words: Offshore Branches, Operating Indices, Performance Index, Financial Performanc

First record of Foulassi Screeching Frog, Arthroleptis adelphus (Perret, 1966) (Anura, Arthroleptidae, Arthroleptinae), from Nigeria, with notes on its phylogenetic position

We report the first known occurrence of the Foulassi Screeching Frog, Arthroleptis adelphus (Perret, 1966), from Nigeria. A specimen of A. adelphus was collected during herpetological survey work conducted in Cross River National Park, south-eastern Nigeria. Morphometrics and mitochondrial 16S rRNA gene confirm identity of the specimen. Matrilineal genealogy reveals a sister relationship of A. adelphus from Nigeria with individuals from south-western Cameroon. Genetic analysis further shows geographic structuring and divergence among populations of A. adelphus from the Guineo–Congolian forest region. We offer updates to the IUCN geographic range of A. adelphus

Factors influencing quality of life and predictors of low quality of life scores in patients on treatment for pulmonary tuberculosis: a cross sectional study.

There is paucity of information on the quality of life of patients with pulmonary tuberculosis in Nigeria. This study assessed the factors influencing their quality of life and the independent predictors of low quality of life scores. Two hundred and sixty consecutive patients with pulmonary tuberculosis seen at the Lagos University Teaching Hospital were evaluated for health related quality of life using the World Health Organization Quality of life instrument (WHOQoL-BREF). Sociodemographic characteristics of the patients were related to the various domains of quality of life and a multivariate logistic regression analysis was performed to identify the independent predictors of low quality of life scores in the patients. The mean age of the patients was 36.7±12 years. Sex, age and marital status of patients were found to influence quality of life scores. The independent predictors of low quality of life scores were low monthly income, duration of the illness, concomitant illnesses, unemployment, advancing age and male gender. Several socio demographic and economic factors influenced the quality of life of patients with tuberculosis and are predictive of poor scores. It is important to consider these factors when treating patients with tuberculosis to optimise outcome of care

Prevalence of pulmonary hypertension in sickle cell anaemia patients of a tertiary hospital in Nigeria

Background: Sickle cell disease (SCD) is an inherited haemoglobinopathy characterised by recurrent organ hypoxia-reperfusion cycles which may result in repeated organ damage including the lungs and heart. In SCD, pulmonary hypertension is a known complication that may precede or complicate acute chest syndrome which is often fatal. This study seeks to know the prevalence of pulmonary hypertension and its relationship with clinical and laboratory parameters in sickle cell disease patients attending a tertiary hospital in Lagos. Materials and Methods: This was a case - control study involving patients with sickle cell disease recruited from adult sickle cell clinic of Lagos State University Teaching Hospital, Ikeja and HbAA controls matched for age and sex from a tertiary educational institution in Lagos. Both the patients and controls were subjected to echocardiography and pulmonary hypertension was deduced from their cardiac tricuspid regurgitant jet velocity. Other parameters measured were age, body mass index, full blood count, red cell indices, foetal haemoglobin, chest X-ray, liver function tests, lactate dehydrogenase and pulmonary function tests. Consenting patients were 56 HbSS in steady state and 28 HbAA controls matched for age and sex. Data was analysed using SPSS version 16.0. Results: The mean age of patients was 22 ± 6 years. In two 2 of 56 (3.6%) of the participants with sickle cell disease, the pulmonary artery pressure was > 25mmHg and there was significant difference in the mean of the pulmonary artery pressure of the control and that of the patients (P-value 0.013). Also, using the appropriate correlation tests, there was significant relationship between the pulmonary artery pressure and lactate dehydrogenase, aspartate transferase and haematocrit in patients with sickle cell disease. Conclusion: Sickle cell disease is an independent cause of pulmonary artery hypertension. Variation in cardiovascular reactions to recurrent hyperhaemolysis and hyperdynamic state in sickle cell disease may explain differences in the development of cardiac complications. Exploration of these reactions may reveal other therapeutic measures to prevent complications in sickle cell disease. Clinical assessment of adult patients with sickle cell disease should include echocardiography

Worldwide trends in the burden of asthma symptoms in school-aged children: Global Asthma Network Phase I cross-sectional study

Background Asthma is the most common chronic disease in children globally. The Global Asthma Network (GAN) Phase I study aimed to determine if the worldwide burden of asthma symptoms is changing. Methods This updated cross-sectional study used the same methods as the International study of Asthma and Allergies in Childhood (ISAAC) Phase III. Asthma symptoms were assessed from centres that completed GAN Phase I and ISAAC Phase I (1993–95), ISAAC Phase III (2001–03), or both. We included individuals from two age groups (children aged 6–7 years and adolescents aged 13–14 years) who self-completed written questionnaires at school. We estimated the 10-year rate of change in prevalence of current wheeze, severe asthma symptoms, ever having asthma, exercise wheeze, and night cough (defined by core questions in the questionnaire) for each centre, and we estimated trends across world regions and income levels using mixed-effects linear regression models with region and country income level as confounders. Findings Overall, 119 795 participants from 27 centres in 14 countries were included: 74 361 adolescents (response rate 90%) and 45 434 children (response rate 79%). About one in ten individuals of both age groups had wheeze in the preceding year, of whom almost half had severe symptoms. Most centres showed a change in prevalence of 2 SE or more between ISAAC Phase III to GAN Phase I. Over the 27-year period (1993–2020), adolescents showed a significant decrease in percentage point prevalence per decade in severe asthma symptoms (–0·37, 95% CI –0·69 to –0·04) and an increase in ever having asthma (1·25, 0·67 to 1·83) and night cough (4·25, 3·06 to 5·44), which was also found in children (3·21, 1·80 to 4·62). The prevalence of current wheeze decreased in low-income countries (–1·37, –2·47 to –0·27], in children and –1·67, –2·70 to –0·64, in adolescents) and increased in lower-middle-income countries (1·99, 0·33 to 3·66, in children and 1·69, 0·13 to 3·25, in adolescents), but it was stable in upper-middle-income and high-income countries. Interpretation Trends in prevalence and severity of asthma symptoms over the past three decades varied by age group, country income, region, and centre. The high worldwide burden of severe asthma symptoms would be mitigated by enabling access to effective therapies for asthma. Funding International Union Against Tuberculosis and Lung Disease, Boehringer Ingelheim New Zealand, AstraZeneca Educational Grant, National Institute for Health Research, UK Medical Research Council, European Research Council, and Instituto de Salud Carlos III