The influence of board mechanisms to the perceived performance of listed firms in Nigeria

The formation of the board of directors has led to the ever growing debate in the area of corporate governance in Nigeria. Essentially, there is a growing concern about the effectiveness of the board of director to firm performance, This study attempts to investigate an empirical study on the influence of board mechanisms on the perceived firm performance of listed firm in Nigeria. The underpinning theory of the study is rooted in agency theory, supported by three theories of corporate governance such as stewardship, resource dependence, and stakeholder theory to increase the understanding of the influence of board mechanisms to perceived firm performance. The data were collected through proportionate stratified random sampling techniques. The questionnaires were sent to the respondents. Out of 476 questionnaires sent, 401 returned. The number of valid questionnaires is 362. Data were analyzed using partial least squares structural equation modeling (PLS-SEM). Empirical findings showed that board size, independence non-executive director, CEO duality, female gender diversity, board competence, board professional knowledge, and experience were positively associated with perceived firm performance. Also, board ethnicity conflict was found to be negatively and statistically significantly related to perceived firm performance. However, director skills did not show any significant link to perceived firm performance. The findings contribute, theoretically to the knowledge of corporate governance. In the context of corporate governance, this is the first study that focused on the issues of methodological changes by using primary data to investigate the influence of board mechanisms on the perceived firm performance of listed firm in Nigeria. The findings provide policymakers, stakeholders, and government with a better picture of the formation of the board of directors. The study also offers some suggestions for future research

Board Diversity or Tokenism: A Case for Social Inclusion and an Efficiency Model

This exploratory paper examines the concept of diversity as a dynamic of board effectiveness. The study argues that diversity hardly works without putting in place systems and programmes that promote social inclusion, and, as such, research on board diversity must account for this element in building empirical frameworks and model specifications. The study finds that a great majority of previous studies have ignored this variable of significant importance and, in some instances, conflated it with diversity itself. This represents a material flaw that needs to be addressed. This paper offers guidance on how to measure and account for social inclusion and integration in board diversity research. Finally, a portfolio efficiency frontier model is proposed as a mechanism for differentiating between corporations with efficient board diversity and those that are tokenism based

Monetary Policy and Inflation Control in Nigeria

This paper examines the effectiveness monetary policy as an anti-inflationary measure in Nigeria. in order to explore the relationship between inflation and monetary impulses, the cointegration and error correction methods approach were employed on quarterly time series data spanning from 1980Q1 to 2012Q4. The unit roots test shows that all the variables are differenced stationary. The cointegration test indicates a long-run relationship between inflation and the vector of regressors employed. The estimated result reveals that for the period covered, interest rate, exchange rate, money supply and oil-price are the major causes of inflation in Nigeria. It was also observed that although in the short-run increased in income encourages inflation, proper utilization of the growth would reduce inflation. The Money supply variable shows a significant positive impact on inflation both in short and long runs. This means that Nigerian inflationary situation is driven by monetary impulses. As such, anti-inflationary monetary policy measures, backed-up by some necessary fiscal policies are incumbent for structural and economic stabilization. Keywords: Monetary policy, Inflation and Cointegratio

Managing Soil Nitrogen under Rain-Fed Lowland Rice Production Systems in the Forest Agroecological Zones in Ghana

Rice is the second most important cereal in Ghana after maize. However, current production levels are about 47% of the country’s requirements resulting in huge annual imports of the crop. One major constraint to production has been low soil nutrients and poor nitrogen management. Nitrogen is not only a major nutrient but also most often the most limiting nutrient element in lowland ecologies. With the introduction of improved soil and water management (“sawah” system) for lowland rice production, a study was conducted to determine the optimum nitrogen rates required. A randomized complete block design arranged in a split plot consisting of five levels of nitrogen as main treatments and three improved rice varieties as sub-treatments was adopted. Results showed that the total number of tillers per m2 increased significantly with increasing levels of N as was total dry matter production. However, total number of panicles did not show the same relationship. Total biomass yield increased significantly and linearly with increasing levels of N. Paddy yield significantly increased from 1.7 t ha−1 (control) to a maximum of 9.4 t ha−1 (90 kg N ha−1) before declining to 5.8 t ha−1 (150 kg N ha−1) in the order 0 < 30 < 60 < 150 < 120 = 90 kg N ha−1, respectively. This result significantly and positively reflected on grain harvest index (GHI) in the order 0.27 < 0.38 < 0.46 < 0.47 < 0.57 < 0.68 for 0, 30, 60, 150, 120 and 90 kg N ha−1, respectively. Nitrogen at 90–120 kg ha−1 was therefore recommended. These rice varieties in addition to other improved ones will also perform well in other environments with similar biophysical characteristics across the country

Effect of cropping systems induced shading on the physiology of cowpea varieties intercropped with sorghum based systems in the savannah ecology of Nigeria

Six cowpea varieties (IT98K-131-1, IT04K-227-4, IT89KD-288, IT93K-452-1, IT97K-499-35 and IT99K-573-1-1) were intercropped with a local sorghum (Kaura) using four row arrangements (1C:1S, 2C:2S, Mixed crop and sole) in fields experiment conducted at Minjibir and research farm of the Faculty of Agriculture Bayero University Kano located in the Sudan Savannah ecological zone of Nigeria during the 2015 and 2016 rainy seasons. In the field, the experiment was laid in a randomized complete block design (RCBD), Analysis of variance (ANOVA) showed significant difference on cowpea cropping systems and variety on the physiology of cowpea. At BUK in both years and the combined, cowpea had higher non significant percent light interception at sole, at both sampling period’s varieties IT98K-131-1 and IT93K-452-1 intercepted higher percent light compared with the other varieties similarly chlorophyll content was higher at sole, varieties IT97K-499-35, IT04K-227-4 and IT98K-131-1 had significantly higher chlorophyll content. At Minjibir in both years and the combined, sole row arrangement had the higher non significant percent light interception while variety IT89KD-288 had no significant higher light interception. In both trials, higher percent light interception was recorded in variety IT98K-131-1 and varieties IT04K-227-4 and IT97K-499- 35 had a significant combined effect on chlorophyll content.Keywords: Cropping systems, Cowpea varieties, Shading and physiolog

Empirical study of the relationship between board of director mechanisms and perceived performance of listed firms in Nigeria

Purpose: The growing debate on the board of director mechanisms to firm performance will for a long time remain area of research. The effectiveness of the board of director composition, responsibility, and accountability have become an area of research in the recent trend. This paper attempts to investigate the empirical study of the relationship between the board of director mechanisms and perceived performance of listed firms in Nigeria. The underpinning theory of the paper is rooted in agency theory and supported by resource dependence theory, and stewardship theory to increase the understanding of the influence of the board of director formation to perceived firm performance. The questionnaires were administered to the respondents, out of 182 questionnaires administered, 117 were returned. The number of valid questionnaires is 114. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). Empirical findings showed that board of director composition and accountability were positively associated with perceived firm performance. While the board of director responsibility has no relationship. Based on the knowledge of this paper, this is the first study that adopts the use of primary data to investigate the empirical study of the relationship between the board of director mechanisms and perceived performance of listed firms in Nigeria. The findings provide policymakers, stakeholders, and government with the approaches to overcome and resolved the conflict of interest between the board of director (agent) and shareholder (principal). The paper also offers some suggestions for future study

Acute toxicity and anti-inflammatory activity of hydromethanol leaves extract of Allophylus africanus Beauv in rats

Introduction: The leaves of Allophylus africanus are traditionally used for the treatment of various ailments such as arthritis, rheumatism, gout, hemorrhoids, dysentery, venereal diseases and malnutrition. This study was carried out to evaluate the acute toxicity and antiinflammatory activity of the hydro-methanol leaves extract of A. africanus on laboratory rats. Methods:Allophylus africanus leaves were extracted with 80% methanol using cold maceration for 5 days. The extract was subjected to phytochemical analysis, acute toxicity study and antiinflammatory evaluation using carrageenan induced paw edema in laboratory rats. Results: The phytochemical screening of the aqueous methanol leaves extract revealed the presence of carbohydrates, tannins, steroids/triterpenes, flavonoids, alkaloids and cardiac glycosides. The extract was found to have median lethal dose (LD50) of 3807.89 mg/kg body weight orally and the aqueous methanol leaves extract at doses 250 and 1000 mg/kg produced significant anti-inflammatory effect at the 3rd, 4th and 5th hours with the effect being dose dependent at the 4th and 5th hours. There were remarkable reductions of paw edema in the rats. Conclusion: Allophylus africanus leaves has anti-inflammatory activity which explains the basis of its use in traditional medicine in the management of inflammation and related inflammatory disorder

Water Quality Assessment of Some Selected Hand Dug Wells and a Borehole in North Eastern Parts of Bauchi Metropolis, Nigeria

Water samples were taken from six hand dug wells and a borehole for physico-chemical and microbial analysis to ascertain its quality, type and suitability for domestic, livestock and irrigation purposes. The ranges of results of the physico-chemical parameters are: temperature (28-31.5)oC, Conductivity (170-650)µs/cm, turbidity (1.0-90.8)NTU, and pH(7.0-8.5). Other chemical parameters include: cations -  Ca2+(25.6 – 72.0)mg/l , Na+(23.1 – 75.87)mg/l, K+(0.14 – 78.3)mg/l, Mg2+(1.46 – 20.75)mg/l, Fe2+(0.0 – 1.1)mg/l, Cu2+(0.0 – 0.49)mg/l, Zn2+(0.00 – 1.74)mg/l, Pb2+(0.00 – 0.001)mg/l, Cr6+(0.00 – 0.02)mg/l and anions – HCO3-(54.0 – 140.0)mg/l, Cl-(32.5 – 114.96)mg/l,  F-(0.23 – 0.77)mg/l,  CO32-(32.4 – 84.0)mg/l, SO42-(10.31 – 121.0)mg/l,  NO3-(1.08 – 75.7)mg/l, NO2-(0.013 – 0.69)mg/l. Data values analyzed from the results obtained indicate the water to be Ca-HCO3, K-HCO3, Mg-HCO3 and Na-Cl water type containing high concentrations of some major, minor and trace cations and anions which fall above the maximum permissible limits of the National Standard for Drinking Water Quality (NSDWQ) of Nigerian Industrial Standard (NIS), 2007. Physical and microbiological parameters indicate that the water is turbid and contain a high total coliform counts above the NIS set standards for maximum permissible limits. This may be attributed to proximities of soakaways and dumpsites to the wells which may need to be monitored from time to time. The water was also found to be suitable for irrigation. Keywords: Water Quality, Water Type, Irrigation Wate