The balance sheet channel of monetary policy transmission: Evidence from Nigeria

This paper assesses the existence of a balance sheet channel of monetary policy transmission in Nigeria by examining whether variation in the official interest rate, with respect to the 2007- 2008 global financial crisis, feeds through to the deposit money banks (DMBs) balance sheets, and ultimately reflects in output and prices. Using quarterly macroeconomic data and stock from 2002 to 2012, the study employs an ordinary least squares (OLS) and autoregressive (VAR) framework to investigate the linkages between policy, DMB balance sheet, output and price. The results reveal the existence of a balance sheet channel in Nigeria with a significant impact of DMBs balance sheet composition on output growth and price. However, output and price did not react homogeneously to changes in monetary policy variations due to the global financial crisis

Evaluation of Public-Health Risk of Heavy Metals Contaminants and Physicochemical Parameters in Adulteration Palm Oil Commonly Consumed in Calabar, Nigeria

Edible palm oil has been the parity of the human diet from generation to generation and has contributed both to nutrition and health. These studies investigated some selected heavy metals and physicochemical parameters in palm oil. Eleven (11) samples of ready-consumed edible palm oil were bought randomly from the selected market in calabar metropolis. The samples were digested with 25ml of concentrated H2SO4, for heavy metals analysis using Atomic Absorption Spectrophotometer (AAS). The physiochemical parameters in selected markets include the following FFA, IV, PV, and protein content were also analyzed using standard methods. The results showed that FFA value range from 9.26 to 12%, Iodine value range from 45.78 to 21.40 MgKOH/g, Peroxide value range from 3.60 to 0.03 Meq/kg, and protein content ranges from 0.06 to 0.2 mg were significantly (p<0.05) higher in some markets in comparison to the control. The results of heavy metals showed that Zn 8.06±0.06, Cd 1.01±0.05, N 1.00±0.00, C 125.91±0.09, Pb 9.30±0.07 Cobalt, Lead zinc were above the detectable limit of the WHO standard while Cd and Ni were within the permissibility limit. The results obtained from this study indicate that the palm oil sold in calabar metropolis may cause a public health risk if proper monitoring is not maintained by regulatory agencies. Thus, there is a need for improved screening of our local processed palm oil from the time of production to the time of consumption

On the development of residential property price indices for Nigeria

This work focuses on the development of house price indices for Nigeria, and the estimates of the Nigerian Residential Property Price Indices on housing characteristics are presented. Four main methods of index construction were considered, these are hedonic regression, repeat-sales, stratification and central price tendency methods. It was discovered that econometric methods like hedonic and repeat sales were constraints in constructing residential property price indices for Nigeria by the nature of the data available. Hence, the central price tendency and the sale-based stratification methods which are internationally used measures were applied to the available zonal-level dataset from a survey of selected urban cities from the six geopolitical zones of the country. While the central price tendency was used to track changes in the price of the median residential dwelling sold from one period to another and the zonal shares of residential property prices, the sale-based approach was used to estimate the trends in the year-on-year growth rate of residential property price indices and the zone-wise price indices. On the whole, the results show a reflection of changes in the composition of residential dwellings sold in Nigeria from 2010 to 2012. The need for housing policy that will empower a comprehensive documentation of all attributes of price determinants for evaluation of residential property in Nigeria was emphasized

Investigating the dynamics of bank credit in Nigeria: The role of bank consolidation

This paper examines the dynamics of deposit money banks (DMB) credit and the role of consolidation in credit growth in Nigeria using vector error correction model and Granger causality test. The empirical investigation involved DMBs that have maintained a unique name and some market characteristics before and after the 2004 banking sector consolidation. Using quarterly data from 1999Q1 - 2013Q2 of the selected DMBs, the results show a positive relationship between post-consolidation credit supply growth and the real gross domestic product. The results also show that despite the onesided positive causality from credit supply to economic growth, the total contribution of the consolidated credit growth to real activity was not significant. The paper, therefore, recommends that in order to improve the credit channel of monetary policy transmission, policy makers should take into account how the banks react to such policies

Alteration in biochemical indices following administration of seafood (Thais coronata) extract

Seafood consumption has been a way of life to most people especially those that leave in riverine areas, because seafoods are known to contain many nutrients that are essential for healthy living. Consequently, this research therefore seeks to investigate the effect of these nutritive components of Thais coronata on biochemical indices of albino Wistar rats. Fourty five male albino Wister rats weighing between 180-220 g were assigned into 3 groups of fifteen rats each in metabolic cages and were given rat feed and drinking water ad libitum. Two test doses (low dose 7.0 mg protein/ml and  high dose 52 mg protein/ml) were selected  and  administered  to  two  groups  of  rats  orally  and  daily  for  six  weeks,  while  a third group of rats served as the control, n = 15. At the expiration of the feeding period, blood samples were obtained from all the rats via cardiac puncture for the analysis of the various biochemical indices. Both the low and high doses of the extract produced significant increases in HDLc (P<0.001) compared with control. k (P<0.001), HCO3- (P<0.01) and Ca2+ (P<0.001) were also significantly increased in the  extract treated groups. The extract groups had significant reductions in ALT (P<0.001), ALP (P<0.001), Na+ (P<0.001) and Cl- (P<0.001) compared with control. Also Tc (P<0.001), TG (P<0.001), LDL (P<0.001) and VLDLc (P<0.001) were significantly decreased in the extract treated group. In conclusion seafood consumption is of immense benefit to health because it serves to regulate the lipid profile, electrolytes and enzyme concentrations in blood. DOI: http://dx.doi.org/10.5281/zenodo.58078

Online) An Open Access

ABSTRACT Histopathology of the kidney is one of the parameters used in assessing its microstructural integrity. In this study, the effect of the oral chronic exposure of 500mg/kg of Abelmoschus esculentus and 20mg/kg of Piper guineense on the kidney of wistar rats was assessed. Forty adult wistar rats, comprising of 20 females and 20 males (123-207g), divided into one control and three test groups of five rats each, were used in this study. The rats in the control group were administered with distilled water, while rats in group 2 and 3 were administered with 500mg/kg of Abelmoschus esculentus and 20mg/kg of Piper guineense respectively. Group 4 Animals received a combination of the two extracts. The results showed that exposure to Abelmoschus esculentus and Piper guineense caused tubular necrosis, atrophy, cellular degeneration, vascular congestion, interstitial odema, epithelial lining degeneration and glomerular inflammation in the experimental groups. Statistical value in the weight of the body and kidney showed significant value (p<0.05) compared to control. The observations made from the tissue microscopic analysis, indicated an alteration in the filtration function of the kidneys in rats exposed to Abelmoschus esculentus and piper guineense. Hence, the results obtained suggested that Abelmoschus esculentus and Piper guineense posses the potentials of inducing nephrotoxicity in rats

Physical, chemical and mechanical properties of corn sheath as pulp and paper raw material

Most papers are made from virgin wood-based pulp of hardwood sources but recently, softwood have received enormous attention as alternative to hard wood because the hardwood takes a significant number of years to mature enough for use in the pulp and paper industry unlike softwood which are majorly annual plants. The annual crop in focus in this work is the yellow open-pollinated variety of corn which generates tons of waste at harvest. A novel attempt is made to ascertain the viability of corn sheaths as raw material for the pulp and paper industry by carrying out a comprehensive analysis on the pulp and paper made from the pulp. The sheaths were dried, shred and cut into pieces suitable for the digester and the pulps obtained were analysed for physicochemical properties. Hand sheets were also made using the generated pulp and its physico-mechanical properties were analysed. Results obtained were compared with pulp from corn husks from other parts of the country, three Nigerian fibre sources – silk cotton, bagasse and rice straw and other foreign non-wood sources and found to be of competitive properties. Pulp properties of Lignin content, ash content, cellulose, hot and cold water solubility of the fibres were 13.72 ± 1.21%, 1.27 ± 0.23%, 53.26 ± 1.11%, 15.20 ± 2.11 and 6.14 ± 2.43 respectively while the mechanical properties of paper from the pulp were Bursting strength (282.163 KPa m2/g), Tear strength (146.119), Tensile strength (257.6N/m) and Tensile Index (3.9Nm/g). It was found that in all properties, the corn sheath was better than the rice straw fibers but not as good as the silk cotton and bagasse fibers. However, the corn sheath has been identified, as a viable raw material for the pulp and paper industry in Nigeria

CANDIDIA AND HIV CO-INFECTIONS AMONG WOMEN ATTENDING HIV CLINIC AT GENERAL HOSPITAL EZZANGBO, NIGERIA

Candidiasis has been identified as a ubiquitous fungal infection commonly affecting people living with HIV/AIDS. This research ascertained the prevalence and risk factors forral and vaginal candidiasis among 180 HIV out-patients at Ebonyi State General Hospital, Ezzangbo. Oral and vaginal swabs were aseptically collected from the participants in duplicate. One of the swabs was streaked on Sabouraud's Dextrose Agar (SDA) and isolates were identified using macroscopic characteristics while the second swab was used for microscopic examination. Structured questionnaires were administered to participants to obtain risk factors associated with the infections. The antifungal susceptibility testing of the Candida isolates was performed using disc diffusion method. Data obtained was statistically analysed using Statistical Package for Social Scientist (SPSS). Results obtained from the study indicated 120(66.7%) were positive for Candidiasis; 31.7% was positive for only vaginal Candidiasis, 22.2% were positive for only oral Candidiasis while 12.8% had both. Candida albicans (CA) was dominant with 71% while none albicans Candida (NAC) was 29%. Isolates were most sensitive to Itraconazole and Griseofluvin and less sensitive to Ketoconazole, Nystatin and Fluconazole. The results of this study underlined essentials of good hygiene practices and importance of regularly assessing HIV patients for candidiasis