Assessment of the Financial Information Disclosures of Pension Fund Administrators in Nigeria

The study investigates extent of compliance of Pension Fund Administrators in Nigeria with PENCOM financial information disclosures guidelines with a view to ensuring that there is transparency and accountability in the management of the contributory pension schemes. Data were collected from both primary and secondary sources. Primary data were sourced from four hundred (400) respondents that are retirees under the contributory pension scheme through administration of questionnaire while secondary data were gathered from the annual reports of eleven (11) Pension Fund Administrators that were purposively selected based on size of fund under management and number of contributions. Primary data were analysed using descriptive statistics while secondary data were analysed using disclosure index to measure the extent of compliance. The study found that 9 out of the 11 sampled Pension Fund Administrators did not achieve 100% compliance on disclosure of financial information in their annual reports in accordance with PENCOM guidelines. Also, the channels of communication of accounting information to members of contributory pension plans in Nigeria on the performance of the fund under management of the PFAs are not meeting members' information needs. Furthermore, result showed that contributors displayed lack of knowledge of contributory pension schemes investment activities and risks. It was recommended that PENCOM should ensure compliance with the PENCOM financial reporting guidelines by the Pension Fund Administrators to enhance prudency and transparency in the management of contributory pension fund in Nigeria. Although annual reports are used by several users, yet contributors to contributory pension schemes as principals of the PFAs in agency relationship should be given more considerations in the choice of channels of communicating financial information to meet their information need and expectations

Working Capital Management and the Performance of Selected Quoted Manufacturing Companies in Nigeria (2000-2009)

This study examined the working capital management and the performance of selected quoted manufacturing companies in Nigeria. The study specifically analyzed the effects of working capital management on the performance of manufacturing firms between the periods 2000 – 2009. The study used secondary data sources which were collected from the Annual Report and Accounts of sixty purposively selected non-financial quoted companies in the Nigerian Stock Exchange Fact book. Data collected were analyzed using descriptive statistics such as mean, median, mode, standard deviation and inferential statistics such as correlation and regression analysis.. The results showed that the average collection period, the average payment period, were positively and significantly related to profitability; inventory turnover in days, cash conversion cycle were also significant but negatively related to profitability; the net trading cycle was negatively related to profitability but not significant. These implied that a reduction in the cash conversion cycle, inventory turnover in days and net trading cycle will generate more profits, while increase in average collection period, average payment period, will generate more profits and additional value for shareholders. The study concluded that efficient management of working capital affects the performance of manufacturing firms in Nigeria. Keywords: Working capital management, descriptive statistics, inferential statistics, free cash flow, Manufacturing Sector

Standards’ Compliance and Financial Reporting Quality Among Listed Companies in Nigeria

The study determined the extent of compliance with financial reporting standards and the extent of financial reporting quality among quoted non-financial firms in Nigeria between 2005 and 2020. The study used secondary data sourced from the published annual audited reports and financial statements of 50 non-financial firms listed in the Nigeria Stock Exchange. Descriptive statistics and Beneish Model were used to determine the compliance and the extent of financial reporting quality. The results showed that the level of compliance with financial reporting standard among quoted non-financial firms is significantly high. Also, results showed that since the adoption of International Financial Reporting Standards (IFRS) in 2012, the level of financial reporting quality of quoted non-financial firms has increased as there was no manipulation of any financial statement of the selected firms up to 2020. Keywords: Financial Reporting Quality, IFRS compliance, Beneish Model. DOI: 10.7176/RJFA/13-14-08 Publication date:August 31st 202

Computing systems in a pseudomarine operational environment: design and initial test results

Contemporary research recognizes the need to reduce the cooling costs of data centre systems. This is beneficial and also reduces the operational costs. The operational costs can be reduced by using water for cooling instead of relying on conventional cooling systems comprising airconditioners, chillers and cooling towers. The cooling effect of water can be leveraged by siting the underwater data centre in a marine or pseudomarine environment. A pseudomarine environment is considered here since it overcomes the operational challenges associated with obtaining the regulatory permits required to access the marine environment. In addition, the discussion in the paper presents the design of a desktop computing system that uses water for cooling in a pseudomarine environment. The performance test of the desktop computing system is conducted in Oyo, Oyo State Nigeria. This is done to examine the viability of designing and using minidata centres sited in a pseudomarine environment in Nigeria. The initial results indicate that a personal desktop computer in the role of the mini data centre is able to support the execution of software installation without the use of conventional cooling i.e fans for a period exceeding 25 minutes. In this case, the cooling is realized using the emulated pseudo marine environment

yesola , oses

The study focuses on the long run corporate tax avoidance of listed firms in Nigeria with a view to examine the ability of listed firms to pay low amount of cash taxes in naira of pre-tax earnings over a long run period of twelve years. A sample of 19 listed firms were selected based on purposive sampling technique from the list of NSE 30 listed firms on the Nigeria stock exchange. The long-run cash effective tax rate developed by Dyreng, Hanlon, and Maydew (2008) to measure long run tax avoidance was adopted. The study finds that there is variation across the firms in tax avoidance at long run with some firms achieving a lower amount of cash taxes in naira of pre-tax earnings compared to others. The study concludes that firms in the consumer sector pay more taxes than financial service sector though financial service sector firms declare more profit before tax than the consumer sector firms. The study recommends than financial service sector firms should contribute more to education tax in Nigeria