International Financial Reporting Standards Adoption and Earnings of Quoted Banks in Nigeria

The aim of this study is to examine the effect of adopted International Financial Reporting Standards (IFRS) adoption on the earning yield (EY) and earning per share (EPS) of quoted banks in Nigeria. The study made use of cross sectional data obtained for a period of 6 years from 2009 to 2014, while the panel ordinary least method of analysis was used to examine the impact of IFRS adoption on the earnings of all 15 quoted banks in the Nigerian Stock Exchange. The study found a significant and positive relationship between IFRS adoption and the EY of quoted banks in Nigeria. The study also found a significant and positive relationship between IFRS adoption and EPS of quoted banks in Nigeria. The study concludes that IFRS adoption has improved the decision making capability of the various stakeholders, thus, increasing investor confidence and the inflow of capital in the country through foreign direct investment. The study suggests that, in order to safeguard the suitable adoption of IFRS in Nigeria, competent Accountants and Auditors in IFRS are required in large number and that the Institute of Chartered Accountants of Nigeria must intensify it efforts in organising IFRS based training programmes for its members and other parties connected with corporate reportin

AUDIT FIRM CHARACTERISTICS AND FINANCIAL REPORTING QUALITY: EVIDENCE FROM NIGERIAN LISTED DEPOSIT MONEY BANKS

Financial reports prepared by corporate managers communicate economic performance of an entity to various users of the reports. An important attribute of a financial report is its reliability. From the perspective of Agency theory, there is a possibility for corporate managers to be involved in manipulation of accounting earnings, with the intention of misleading users of reports. This study examined the influence of audit firm characteristics on quality of financial reports of eleven Nigerian deposit money banks for financial years, 2007 – 2018. The study employed Random effects generalised least squares as analytical tool. Regression results revealed a negative and significant relationship between audit firm characteristics (audit fees, joint audit) and earnings management. For quality financial reports to be achieved, it is recommended that relevant regulatory bodies in Nigeria should mandate management of deposit money banks and other financial institutions to engage services of bigger audit firms with requisite skills, professional experience and reputation. Joint audit should also be encouraged because of its added advantage of objective financial reporting over that of a single firm.   &nbsp

Qualitative determination of chemical and nutritional composition of Parkia biglobosa (Jacq.) Benth

Qualitative determination of chemical and nutritional composition of Parkia biglobosa seeds an underexploited crop seed in Nigeria was carried out. Seeds of P. biglobosa were found to be rich in lipid, protein, carbohydrate, soluble sugars and ascorbic acid. The cotyledon was very nutritious, has less fibre and ash contents when compared to that of testa. The oil content was suitable for consumption since it contains very low acid and iodine contents. The oil has very high saponification value and hence would be useful in soap industry. Some simple reducing sugars, including lactose, were identified. Key words: Parkia bioglobosa, Qalitative determination, Industrial use, Saponification, underexploited.African Journal of Biotechnology Vol. 4 (8), pp. 812-81

Nigerian water resources management – an overview

Effective management of a country’s water resources contributes toward its sustainable development. The aim of this paper is to give an overview of Nigeria’s surface and underground water sources alongside agencies charged with functions covering all facets in water resources development and management. Nigeria consists of three broad agro-ecological zones; the northern Sudan Savannah, the Guinea Savannah and the southern rainforest spread across eight hydrological areas for the purpose of water resources management. The Federal Ministry of Water Resources is responsible for large water resources development projects and water allocation between states; comprising of sixteen (16) parastatals and agencies made up of twelve (12) River Basin Development Authorities (RBDAs), Nigeria Hydrological Services Agency (NIHSA), Nigeria Integrated Water Resources Management Commission (NIWRMC), Gurara Water Management Authority (GWMA), and the National Water Resources Institute (NWRI). The country has four river drainage systems and 264 dams. Recent studies of Nigerian water reserves (surface and groundwater sources) indicated that there are large supplies, and the country has surface and groundwater resources potentials of 267.3BCM and 51.9BCM respectively

Income mix and liquidity of Nigerian deposit money banks : evidence from dynamic panel models

Liquidity crunch is one of the greatest challenges that deposit money banks are confronted with which negatively affect their strength and stability and ultimately leading to collapse of some. Arising from this, the study focused on the “effect of income mix on liquidity of Nigerian deposit money banks.”The study adopted an ex post facto research design, while ten out of all the listed banks were purposefully selected. The study obtained secondary data from the annual reports and accounts of the sampled banks from 2008 to 2017. Series of preliminary analyses involving descriptive and correlation analyses were conducted while generalized method of moment was employed in testing the hypotheses. The study found that all the variables of interest on income mix individually exhibit no significant effect on liquidity (P > 0.05), in effect, ratio of interest income, fee and commission income, foreign exchange income and other income were found to influence liquidity negatively while investment income was found to exert positive effect on liquidity. The study’s conclusion arising from the findings is that income mix has significant positive joint effect on liquidity management. Arising from the conclusion, the study recommends that bank should keep diversifying their income base as such strategy significantly improves liquidity, while also improving on the interest income, fee and commission income, foreign exchange income and other income.peer-reviewe

Effect of Temperature and Residence Time on Torrefaction Characteristics of African Birch (Anogeissus leiocarpa)

In this study, the effect of temperature and residence time on African birch (Anogeissus leiocarpa) torrefaction characteristics was investigated. African birch trunk was procured from Aanu-Oluwapo Sawmill in Ogbomoso, SouthWestern Nigeria. The trunk was sawn into pieces. The pieces were machined into cylindrical samples of 40 mm diameter and 65 mm length using a wood lathe machine (Powermatic 3520B). Prepared samples were torrefied, one at a time, in an electrically heated fixed bed reactor at different torrefaction temperatures (200, 230, 260, and 290 oC) and residence times (10, 20, 30, and 40 min). The proximate analysis of both the raw sample and solid torrefaction products was done according to the ASTM D3174-76 standard. The mass and energy yields, Higher Heating Value (HHV), and water absorption characteristic of the solid torrefaction products were then determined. Findings revealed mass and energy yields of the torrefied solid products decreased with an increase in both temperature and residence time. HHV increased with temperature but did not show any consistent pattern with residence time. The water affinity of the torrefied biomass decreased with both temperature and residence time. Torrefaction inhibits biomass moisture uptake during storage while increasing its heating valu

International Financial Reporting Standards Adoption and Earnings of Quoted Banks in Nigeria

The aim of this study is to examine the effect of adopted International Financial Reporting Standards (IFRS) adoption on the earning yield and earning per share of quoted banks in Nigeria. The study made use of cross sectional data obtained for a period of 6 years from 2009-2014, while the panel ordinary least method of analysis was used to examine the impact of IFRS adoption on the earnings of all 15 quoted banks in the Nigerian Stock Exchange. The study found a significant and positive relationship between IFRS adoption and the earning yield of quoted banks in Nigeria. The study also found a significant and positive relationship between IFRS adoption and earning per share of quoted banks in Nigeria. The study concludes that IFRS adoption has improved the decision making capability of the various stakeholders, thus, increasing investor confidence and the inflow of capital in the country through foreign direct investment. The study suggests that, in order to safeguard the suitable adoption of IFRS in Nigeria, competent Accountants and Auditors in IFRS are required in large number and that the Institute of Chartered Accountants of Nigeria (ICAN) must intensify it efforts in organising IFRS based training programmes for its members and other parties connected with corporate reporting. Keywords: Corporate Reporting, Adoption, Performance, Local GAAP, IFRS JEL Classifications: G23, M4

Defining the causes of sporadic Parkinson’s disease in the global Parkinson’s genetics program (GP2)

\ua9 2023, Springer Nature Limited. The Global Parkinson’s Genetics Program (GP2) will genotype over 150,000 participants from around the world, and integrate genetic and clinical data for use in large-scale analyses to dramatically expand our understanding of the genetic architecture of PD. This report details the workflow for cohort integration into the complex arm of GP2, and together with our outline of the monogenic hub in a companion paper, provides a generalizable blueprint for establishing large scale collaborative research consortia

Multi-ancestry genome-wide association meta-analysis of Parkinson’s disease

\ua9 2023, This is a U.S. Government work and not under copyright protection in the US; foreign copyright protection may apply. Although over 90 independent risk variants have been identified for Parkinson’s disease using genome-wide association studies, most studies have been performed in just one population at a time. Here we performed a large-scale multi-ancestry meta-analysis of Parkinson’s disease with 49,049 cases, 18,785 proxy cases and 2,458,063 controls including individuals of European, East Asian, Latin American and African ancestry. In a meta-analysis, we identified 78 independent genome-wide significant loci, including 12 potentially novel loci (MTF2, PIK3CA, ADD1, SYBU, IRS2, USP8, PIGL, FASN, MYLK2, USP25, EP300 and PPP6R2) and fine-mapped 6 putative causal variants at 6 known PD loci. By combining our results with publicly available eQTL data, we identified 25 putative risk genes in these novel loci whose expression is associated with PD risk. This work lays the groundwork for future efforts aimed at identifying PD loci in non-European populations

Defining the causes of sporadic Parkinson’s disease in the global Parkinson’s genetics program (GP2)

The Global Parkinson’s Genetics Program (GP2) will genotype over 150,000 participants from around the world, and integrate genetic and clinical data for use in large-scale analyses to dramatically expand our understanding of the genetic architecture of PD. This report details the workflow for cohort integration into the complex arm of GP2, and together with our outline of the monogenic hub in a companion paper, provides a generalizable blueprint for establishing large scale collaborative research consortia