Banking Sector Reform In Nigeria: A Regulatory Imperative For A Sustainable Banking Industry

The focuses on banking reform in Nigeria: A regulatory imperative for a sustainable banking industry. It is the aim of this research to critically appraise the Nigerian banking sector against the back-drop of its strategic role in national economic development. The research design adopted in this study falls within the paradigm of an Ex-post facto design type. Data were collected mainly from secondary records and analyzed using ordinary least square method. However, the study revealed that, prior to the 2004 banking sector reforms, many Nigerian banks were undercapitalized and this accounted for their poor performance in terms of low profitability, low liquidity, low returns on investments and lack of sustainability. The study also reveals that huge bad debts profile or poor asset quality has a negative contribution to bank performance and was statistically significant. Interest rate had a positive effect and a significant effect on bank performance. On the whole, the incorporated variables (BCAP, INTR) contributed positively to the growth of Nigerian banks, and the economy at large. Based on the findings above, it is concluded that effective banking sector reforms is a regulatory imperative for a sustainable banking industry in Nigeria. This study recommends periodic increase in the banks’ capitalization especially since the hyper-inflationary rate in our economy is not showing any sign of abating. This will afford the banks the financial leverage to perform some of its strategic developmental roles especially in the real sector of the economy to bring about the much-desired national economic development. They study strongly recommends the strict implementation of the risk-focused and rule-based regulatory framework by the regulators. This it is believed will reduce the high incidence of huge bad debts profile of banks and consequently improve the assets quality of banks for better performance. Keywords: Bank profit, Bank capitalization, Bank bad debts, Bank interest rate, Good corporate                              governanc

Fiscal and Monetary Policy and its Effect on the Growth of Nigeria Economy

The study examined the empirical link on the effect of fiscal and monetary policy on the Economic Growth of Nigeria (1986-2010). The objectives were to determine factors of fiscal and monetary policy that contributed to the growth of Nigeria economy. It made use of secondary data, from Central Bank of Nigeria statistical Bulletin, Volume 21, 2010 and employed the ordinary least squares method of statistical analysis. It was found out that government revenue had a positive impact and statistical significant on gross domestic product. Also shown that government expenditure was positively significant on the growth of Nigeria Economy. The second model depicts that money supply had a positive impact on gross domestic product and it discovered that this variable was statistically significant. Exchange rate variable had a positive impact on the performance of Nigeria economy. The finding revealed that inflation had a positive impact but there was no significant relationship between inflation and gross domestic product. It therefore suggests that government should increase the number of fiscal policy instruments over and above the ones currently in use. The study recommended that measures should be adopted that would ensure income generation and government revenue generating ventures. Keywords: Balance of payment, Economic growth, Exchange rate, Government expenditure, Inflation, Money supply

An Advanced Control Strategy for the Evaporation Section of An Integrated First- and Second-Generation Ethanol Sugarcane Biorefinery

The sugarcane crushing stage is one of the most important technologies being developed at the moment. In this paper, the control of the multiple-stage evaporation system was addressed, as it is a crucial stage in the first- and second-generation ethanol production from sugarcane. A neural network model was proposed based on a dynamic phenomenological model developed in EMSO (Environment for Modeling, Simulation and Optimization). The phenomenological model was used to build a neural network prediction model for an MPC (Model Predictive Control) scheme using a DMC (Dynamic Matrix Control) algorithm. Simulations were carried out to evaluate the performance for tracking the set-point. Also, disturbance rejection tests were performed, considering different step disturbances. The analysis demonstrated that the MPC scheme performed well in the tests and showed superiority when compared to classical PID controllers. This work is licensed under a Creative Commons Attribution 4.0 International License

Absorption of Transverse Spin Current in Ferromagnetic NiCu: Dominance of Bulk Dephasing over Spin-Flip Scattering

In ferromagnetic metals, transverse spin currents are thought to be absorbed via dephasing -- i.e., destructive interference of spins precessing about the strong exchange field. Yet, due to the ultrashort coherence length of $\approx$1 nm in typical ferromagnetic thin films, it is difficult to distinguish dephasing in the bulk from spin-flip scattering at the interface. Here, to assess which mechanism dominates, we examine transverse spin-current absorption in ferromagnetic NiCu alloy films with reduced exchange fields. We observe that the coherence length increases with decreasing Curie temperature, as weaker dephasing in the film bulk slows down spin absorption. Moreover, nonmagnetic Cu impurities do not diminish the efficiency of spin-transfer torque from the absorbed spin current. Our findings affirm that transverse spin current is predominantly absorbed by dephasing inside the nanometer-thick ferromagnetic metals, even with high impurity contents

Cystatins as calpain inhibitors: Engineered chicken cystatin- and stefin B-kininogen domain 2 hybrids support a cystatin-like mode of interaction with the catalytic subunit of μ-calpain

Within the cystatin superfamily, only kininogen domain 2 (KD2) is able to inhibit μ- and m-calpain. In an attempt to elucidate the structural requirements of cystatins for calpain inhibition, we constructed recombinant hybrids of human stefin B (an intracellular family 1 cystatin) with KD2 and Delta L110 deletion mutants of chicken cystatin-KD2 hybrids. Substitution of the N-terminal contact region of stefin B by the corresponding KD2 sequence resulted in a calpain inhibitor of K-i = 188 nM. Deletion of L110, which forms a beta -bulge in family 1 and 2 cystatins but is lacking in KD2, improved inhibition of mu -calpain 4- to 8-fold. All engineered cystatins were temporary inhibitors of calpain due to slow substrate-like cleavage of a single peptide bond corresponding to Gly9-Ala10 in chicken cystatin. Biomolecular interaction analysis revealed that, unlike calpastatin, the cystatin-type inhibitors do not bind to the calmodulin-like domain of the small subunit of calpain, and their interaction with the mu -calpain heterodimer is completely prevented by a synthetic peptide comprising subdomain B of calpastatin domain 1. Based on these results we propose that (i) cystatin-type calpain inhibitors interact with the active site of the catalytic domain of calpain in a similar cystatin-like mode as with papain and (ii) the potential for calpain inhibition is due to specific subsites within the papain-binding regions of the general cystatin fold

Electron-phonon relaxation and excited electron distribution in zinc oxide and anatase

We propose a first-principle method for evaluations of the time-dependent electron distribution function of excited electrons in the conduction band of semiconductors. The method takes into account the excitations of electrons by external source and the relaxation to the bottom of conduction band via electron-phonon coupling. The methods permits calculations of the non-equilibrium electron distribution function, the quasi-stationary distribution function with steady-in-time source of light, the time of setting of the quasi-stationary distribution and the time of energy loss via relaxation to the bottom of conduction band. The actual calculations have been performed for titanium dioxide in the anatase structure and zinc oxide in the wurtzite structure. We find that the quasi-stationary electron distribution function for ZnO is a fermi-like curve that rises linearly with increasing excitation energy whereas the analogous curve for anatase consists of a main peak and a shoulder. The calculations demonstrate that the relaxation of excited electrons and the setting of the quasi-stationary distribution occur within the time no more than 500 fsec for ZnO and 100 fsec for anatase. We also discuss the applicability of the effective phonon model with energy-independent electron-phonon transition probability. We find that the model only reproduces the trends in changing of the characteristic times whereas the precision of such calculations is not high. The rate of energy transfer to phonons at the quasi-stationary electron distribution also have been evaluated and the effect of this transfer on the photocatalyses has been discussed. We found that for ZnO this rate is about 5 times less than in anatase.Comment: 21 p., 9 figure

Observation of Coherently Coupled Cation Spin Dynamics in an Insulating Ferrimagnetic Oxide

Many technologically useful magnetic oxides are ferrimagnetic insulators, which consist of chemically distinct cations. Here, we examine the spin dynamics of different magnetic cations in ferrimagnetic NiZnAl-ferrite (Ni$_{0.65}$Zn$_{0.35}$Al$_{0.8}$Fe$_{1.2}$O$_4$) under continuous microwave excitation. Specifically, we employ time-resolved x-ray ferromagnetic resonance to separately probe Fe$^{2+/3+}$ and Ni$^{2+}$ cations on different sublattice sites. Our results show that the precessing cation moments retain a rigid, collinear configuration to within $\approx$2$^\circ$. Moreover, the effective spin relaxation is identical to within $<$10% for all magnetic cations in the ferrite. We thus validate the oft-assumed ``ferromagnetic-like'' dynamics in resonantly driven ferrimagnetic oxides, where the magnetic moments from different cations precess as a coherent, collective magnetization

Tpeak-Tend, Tpeak-Tend/QT ratio and Tpeak-Tend dispersion for risk stratification in Brugada Syndrome:A systematic review and meta-analysis

Background: Brugada syndrome is an ion channelopathy that predisposes affected subjects to ventricular tachycardia/fibrillation (VT/VF), potentially leading to sudden cardiac death (SCD). Tpeak-Tend intervals, (Tpeak-Tend)/QT ratio and Tpeak-Tend dispersion have been proposed for risk stratification, but their predictive values in Brugada syndrome have been challenged recently. Methods: A systematic review and meta-analysis was conducted to examine their values in predicting arrhythmic and mortality outcomes in Brugada Syndrome. PubMed and Embase databases were searched until 1 May 2018, identifying 29 and 57 studies. Results: Nine studies involving 1740 subjects (mean age 45 years old, 80% male, mean follow-up duration was 68 ± 27 months) were included. The mean Tpeak-Tend interval was 98.9 ms (95% CI: 90.5-107.2 ms) for patients with adverse events (ventricular arrhythmias or SCD) compared to 87.7 ms (95% CI: 80.5-94.9 ms) for those without such events, with a mean difference of 11.9 ms (95% CI: 3.6-20.2 ms, P = 0.005; I2 = 86%). Higher (Tpeak-Tend)/QT ratios (mean difference = 0.019, 95% CI: 0.003-0.036, P = 0.024; I2 = 74%) and Tpeak-Tend dispersion (mean difference = 7.8 ms, 95% CI: 2.1-13.4 ms, P = 0.007; I2 = 80%) were observed for the event-positive group. Conclusion: Tpeak-Tend interval, (Tpeak-Tend)/QT ratio and Tpeak-Tend dispersion were higher in high-risk than low-risk Brugada subjects, and thus offer incremental value for risk stratification