Cooperative Societies, Housing Provision and Poverty Alleviation in Nigeria

The study is based on the need to motivate individuals in similar wage earning employments to overcome challenges militating against accessibility to basic family needs including home ownership through incremental development. The study employed qualitative research method to carry out empirical investigation through interviews with members as well as some executive members of Covenant University Staff Cooperative and Multipurpose Society Limited, Ota, Ogun State, Nigeria to obtain primary data for the study as well as secondary data from earlier annual reports of the cooperative Society. Data presentation was through the use of tables and percentages. Findings showed that various avenues provided for accessing credit, at short notice, with very low interest rates and generous repayment periods by the Covenant University Staff Cooperative and Multi-purpose Society Limited, significantly assisted members in embarking on massive housing construction on incremental basis in addition to access to funds for other family needs with ease within the ten years of the Cooperative Societies’ establishment. The paper concludes that project funding through co-operative societies’ approach has great potentials for minimising frustrations inherent in the pursuit of achievements through loans from commercial banks at variable interest rates. The paper recommends the encouragement of Staff Co-operative Societies across all segments of establishments in the countr

Securinega virosa leaf and root bark extracts: a comparative anti-cancer study against human breast (MCF-7) and lung (NCI-H460) cancer cell lines

Securinega virosa (Roxb. ex.Willd.) is a medicinal plant with folkloric use in the treatment of cancer and other diseases and has earlier shown significant cytotoxic and growth-inhibitory prospect in our past work. The methanol extracts of the leaves and root barks obtained by cold maceration were screened for anti-cancer properties on breast (MCF-7) and lung (NCI-H460) cancer cells at 1-250 μg/mL adopting the SRB assay. The active leaf extract was partitioned into aqueous and chloroform fractions which were further tested at 1-100 μg/mL on the cell lines. The leaf and root bark extracts exhibited higher sensitivities on MCF-7 than NCI-H460 cell lines. At 100 μg/mL the leaf extract showed cytotoxicity and growth-inhibitory activities of –1.09 and +61.35 % on MCF-7 and NCI-H460 cell lines which later increased to –18.67 and +77.13 %, respectively at 250 μg/mL with GI 50 and TGI of 42 and 63 μg/mL on MCF-7 as well and 98.01 and 132.50 μg/mL on both cells. At the maximum concentration, the root bark extract recorded cytotoxicity of –2.60 % on MCF-7, and a growth-inhibitory activity of +57.9 % on NCI-H460 cell lines. Fractionation of the leaf extract improved its activity at GI50, TGI of 28.11, 34.22 μg/mL on MCF-7 and 42 and 52.69 μg/ mL against NCI-H460 cells, respectively. The traditional use of this plant in the treatment of tumor ailment has further been justified by these results

Cooperative Societies, Housing Provision and Poverty Alleviation in Nigeria

 The study is based on the need to motivate individuals in similar wage earning employments to overcome challenges militating against accessibility to basic family needs including home ownership through incremental development. The study employed qualitative research method to carry out empirical investigation through interviews with members as well as some executive members of Covenant University Staff Cooperative and Multi-purpose Society Limited, Ota, Ogun State, Nigeria to obtain primary data for the study as well as secondary data from earlier annual reports of the Co-operative Society. Data presentation was through the use of tables and percentages. Findings showed that various avenues provided for accessing credit, at short notice, with very low interest rates and generous repayment periods by the Covenant University Staff Cooperative and Multi-purpose Society Limited, significantly assisted members in embarking on massive housing construction on incremental basis in addition to access to funds for other family needs with ease within the ten years of the Cooperative Societies’ establishment. The paper concludes that project funding through co-operative societies’ approach has great potentials for minimising frustrations inherent in the pursuit of achievements through loans from commercial banks at variable interest rates. The paper recommends the encouragement of Staff Co-operative Societies across all segments of establishments in the country  

Impact of Marketing of Deposit Money Bank Services on Customers’ Patronage and Loyalty. Empirical Study of Five Deposit Money Banks in Nigeria

Marketing helps to attract its target customers thereby creating a relationship where exchange can be made possible. However, communication gap in deposit money banks constitute a major problem in the banking system and there is a need to bridge such gap as it affects customer's loyalty and patronage significantly. The objective of this study is to examine the effects of marketing of deposit money bank services on customer patronage and loyalty. This study examined five (5) deposit money banks which were chosen at random. Guarantee Trust Bank (GTB), United Bank for Africa (UBA), Eco Bank Plc, First Bank Plc and Skye Bank Plc. Primary data was used in the course of the study through the use of questionnaires in ensuring that the necessary data were obtained for the analysis. A total number of one hundred and fifteen (115) copies of the questionnaire were administered to the customers of the selected banks. The copies of the returned questionnaire were a hundred and thirteen (113) which were coded in the Statistical Package for social science (SPSS 23). A linear regression model was adopted in order to measure the effect of the independent variables on the dependent variables. The study found that marketing of deposit money bank has a significant effect on customer patronage and loyalty. The study concludes that marketing is highly essential to the survival of any bank thereby ensuring communication is effective between the bank and their customers. The study recommends that banks should ensure that effective marketing strategies such as; creating awareness of the products and services are developed by adopting marketing principles that will enable them to acquire more customers and have a long-term relationship with the existing ones

Comparative cytotoxic and spectrophotometric quantification of phytochemicals of the methanol extracts of the leaf and root bark of <i>Securinega virosa</i> (Roxb ex. Willd) Baill (Euphorbiaceae)

The comparative cytotoxic and spectrophotometric quantification of phytochemicals of the methanol extracts of the leaf and root bark of Securinega virosa was carried out. Phytochemical screening and  spectrophotometric quantification of total flavonoids and phenolics of the extracts were carried out using  standard reported methods. Phytochemicals detected in the extracts include alkaloids, cardiac  glycosides, flavonoids, steroids, tannins, terpenoids and saponins. The total flavonoids and phenolic  contents were observed to be more on the leaves than the root bark. The cytotoxic effects of the methanol extracts were evaluated between 10-400 µg/ml over a period of 24 hr using the tadpole mortality assay. At 100 µg/ml, the methanol extract of the leaf produced 73.30 ± 3.33% mortality which increases to 100 % at 200 and 400 µg/ml while the root barks produced 26.78 ± 4.45 and 56.70 ± 6.67 % mortalities respectively at the same concentrations. The significant cytotoxic effects observed coupled with the presence of phytochemicals such as phenolics supports the ethnomedicinal claim of this plant in treating cancer in Ogun State.Keywords: Cytotoxicity; Phytochemicals, Securinega virosa; Phenolics; Raniceps raninus; Spectrophotometri

Comparative phytochemical and growth inhibitory studies on the leaf and root bark extracts of securinega Virosa (roxb ex. Willd) baill (euphoriaceae)

Securinega virosa is one of the plants used in South-western part of Nigeria in treating cancer. This claim was evaluated using the guinea corn radicle length inhibition assay for anti-proliferation. The growth inhibitory tests were carried out between 1-30 mg/ in a period of 24-96 h while the phytochemical screening was carried out on the plant parts using standard methods. At 24 h, the control seeds had an average radicle length of 2.33 ± 0.63 mm while seeds treated with 20 and 30 mg/ml of extract showed 0.23 ± 0.11 (mm) and 100% growth inhibition respectively. At 96 h, an average length of 0.53 ± 0.25 mm (99 % inhibition) was observed for the leaf extract at 20 mg/ml and 100 % growth inhibition for seeds treated with 30 mg/ml. The root bark extract on the other hand, showed 96.09 and 99.34 % growth reductions, respectively at 20 mg/ml and 30 mg/ml concentrations. The results show a significant growth inhibitory effect of the plant extracts, particularly the leaf extract, hence can be considered in preparing recipes for tumor-related ailments. Further work, especially chromatographic analysis leading to isolation and the use of appropriate human cell lines are needed to support this. Keywords: Securinega virosa, antiproliferation, Sorghum bicolor, Phytochemicals, Radicl

Electronic Commerce, Automation and Online Banking in Nigeria

Electronic banking has been around for some time in the form of automatic teller machines and telephone transactions. More recently, it has been metamorphosed by the Internet with a new look and delivery channel for banking services that benefits both customers and banks. The objective of this paper is to find out the correlation between the anticipated benefits/challenges and encountered benefits/challenges. This paper empirically adopted the use of survey research to explore in quantitative terms the various challenges and benefits e-business poses to Nigerian businesses, with particular reference to Banking and Finance Industry. It was found out that there is a statistically significant difference between the anticipated and encountered benefits and major challenges in the potential security breaches faced by the customers. Constant training of employees both local and international on new development in online trading should be encouraged.</p

Bank's Intermediation Role and Industrial Output in Developing Economies

Nigerian banks perform their financial intermediation role in such a way that makes them rnmble to mobilise fnnds for production. Over the years, the lending rates have increased and thus hindered investors from borrowing fnnds. This has contributed to the slow process of industrialisation in the cmmtiy. The central focus of the study is to determine the role that Deposit Money Banks play in promoting industrialisation in Nigeria and how high lending rates have affected industrial output, thus slowing do\Vll the process of industrialisation. The empirical relationship between bank credit and industrial output was tested in this study using the Johansen Co-integration test. The findings revealed that there is an inelastic relationship between bank credits and industrial output in the long nm. It was also discovered that high lending rates greatly affects industrial output and thus industrialisation development. Therefore, a policy to reduce lending rates so as to foster industrialisation and thus economic growth in Nigeria was recommended. This study concludes that banks are important catalysts for industrialisation however; deposits money bank needs to perform their financial intermediation role more efficiently and effectively as no economy can achieve grovvth in the absence of adequate credit to its real sector