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ACCOUNTING REGULATORY FRAMEWORK AND PUBLIC INSTITUTIONS' COMPLIANCE IN NIGERIA
No full textThis paper is an attempt to investigate the rate of compliance of public institutions with the
framework stipulations of accounting regulations in Nigeria. Series of accounting Regulatory
Provisions guiding preparation and presentation of financial reports in public institutions were
examined. Descriptive statistical methods - Simple Percentage Method (SPM) and Chi-square
were used on 50 Respondents from Ministry of Finance and the Office of Accountant General of
the State of Osun in Nigeria. The paper revealed that there is a positive relationship between
regulatory framework and financial reports preparation and presentations in Osun State. The
study recommends that Proper trainings on public sector accounting and establishments of
performance evaluation of employees should be put in place in order to make public institutions
account more effective in the State of Osun
Foreign portfolio investment and Nigerian bond market development
Get PDFThe study examined the contribution of foreign portfolio investment (FPI) towards financing Nigeria
infrastructural deficits and determined the factors that attract FPI into the Nigerian bond market. It also examined the relationship between FPI and bond yield in Nigeria. Primary data were obtained through administration of questionnaires to directors of finance, chief finance officers and investment officers of 128 firms out of 271 firms in financial and manufacturing sectors of the Nigerian economy. Stratified sampling technique was used to select 100 stock broking firms that were controlling 90% of the secondary bond market trading activities while purposive sampling technique was used to select the existing 18 primary dealers and market makers and 10 non-financial institutions that had raised fund in the domestic bond market within the study period. Secondary data on bond index, bond market capitalization, real interest rate, real exchange rate, inflation rate, gross domestic product, external debt and external reserve were obtained from publications of Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), Debt Management Office (DMO), Nigeria Stock Exchange (NSE) and National Bureau of Statistics (NBS). Data collected were analyzed using both descriptive statistics such as line graphs, bar charts and simple percentages; and inferential statistics which was mainly multiple regression analysis. The results showed that there was no FPI in the bond market until 2003 when the federal government through the Debt Management Office issued the first FGN Bond series. In addition, between 2003 and 2011, the contribution of the FPI to long term funds in the bond market was 10% of the total bond market capitalization which was considered very low. Interest rate (85%), Gross domestic product (90%), bond market capitalization (91%), inflation rate (89%) and external reserve (95%) were found to be major factors that attracted FPI into the Nigerian bond market as stated by the respondents. Finally, the results showed that there was a significant relationship between FPI and bond yield (r = 0.44, p< 0.05). The study concluded that factors attracting foreign investors into the bond market in Nigeria are critical and if well managed by policy makers could enhance the attraction of FPI needed for financing infrastructural projects through the Nigerian bond market
Leaching kinetics of lead from galena with acidified hydrogen peroxide and sodium chloride solution
Get PDFStaff PublicationThe leaching of lead from galena in acidic hydrogen peroxide in presence of sodium chloride
solution has been investigated with respect to the effects of hydrochloric acid and hydrogen
peroxide concentrations, by changing the stirring speed, leaching temperature and the particle
size. It was observed that leaching rate increases with increasing hydrochloric acid concentration,
hydrogen peroxide concentration and the temperature. However, it decreases with increase in the
particle size. The kinetic study showed that the leaching process is represented by shrinking core
model with mixed kinetic. The activation energy (Ea) for the leaching reaction was calculated as
14·60 kJ mol−1, which is suggestive of the mixed controlled kinetics for the leaching reactio
Women Police in the Nigerian Security Sector
Get PDFThis article details the history and philosophy behind major changes in police tradition
and organisation in Nigeria in 1955. Women in the Nigeria Police Force (NPF), influenced
by their background as enforcers of societal norms, developed a type of social-workoriented policing. Using primary and secondary sources of historical information, this
article discusses the origin of women in the NPF, the specialised role of women in
police work, and the changes that have been effected in the roles and functions of
women in policing in Nigeria. Situated within the conceptual frameworks of patriarchy
and gender, this article argues that gender biases impeded the incorporation of
women into the police and, when eventually introduced, gender limitations constrained
their roles, operations and activities
Characterization of lignocellulolytic bacterial strains associated with decomposing wood residues in the Lagos lagoon, Nigeria
Get PDFAims: The presence of lignocelluloses, especially sawdust in the Lagos lagoon and the attendant ecological problems warranted studies on their degradation. This study aimed to isolate and identify the indigenous bacterial strains capable of utilizing lignocellulosic wastes under the prevalent tropical estuarine conditions.
Methodology and results: Nine bacterial species were obtained by elective culture from decomposing wood residues in the lagoon. They were identified on the basis of morphology, biochemical characteristics and analysis of their 16S rRNA gene sequences as Streptomyces, Bacillus and Paenibacillus species. They were cultured on various ligninrelated lignocellulosic substrates over a period of 7 to 12 days. All the isolates showed moderate to very good growth on sugarcane baggase. Streptomyces albogriseolus strain AOB and Paenibacillus sp. ROB showed good growth on grass while on sawdust, only Streptomyces AOB, and Bacillus megaterium strain NOB showed good growth. High performance liquid chromatographic analysis showed that the Streptomyces species completely utilized coniferyl alcohol, B. megaterium strain NOB utilized 90-100% of all the lignin- related aromatic compounds. All the bacterial species utilized less than 40% of sinapyl alcohol, Bacillus sp. OOB and Paenibacillus sp. strain ROB failed to utilize vanillic acid.
Conclusion, significance and impact of study: The isolates degraded lignocellulosic wastes and lignin-related
compounds. The role of fungi in the breakdown of lignocellulose in the Lagos lagoon had been the subject of previous research considerations whilst the role of bacteria spp was unreported. Autochthonous bacterial species may equally play a role in the bio-rehabilitation of the sawdust-polluted water of the Lagos lagoon
Fuzzy logic based intelligent temperature controller for cassava post-harvest storage system
Get PDFSignificant amount of stored agricultural products are lost as a result of poor and inefficient storage systems in most developing countries, especially in tropical regions of the world. Improvements on the existing storage methods is important to guarantee food security. This study proposes the development of intelligent temperature control technique for fresh cassava roots crop post-harvest storage system using fuzzy logic controller (FLC). The intelligent controller which has two inputs (error in temperature and rate of change in the error) and one output (change in fan speed) was simulated with the developed storage system model for temperature control of fresh cassava roots crop. The results obtained shows that the controller can track appropriately the reference temperature and also gives good stability and robustness towards input disturbances. Faster response to maintain the storage temperature within acceptable limit close to reference point was also achieved successfully
POLITICAL SELECTION METHOD FOR AFRICAN DEMOCRACIES
Get PDFThis essay, having identified the failure of political leadership as the bane of economic development and democracy in Africa, has outlined mechanisms for selecting high quality leaders into public office. In the first stage of the screening process, certain elements of costs are imposed on the intending politicians so as to deter the entry of dishonest politicians into politics. This is accomplished via the inverse relationship between the degree of honest and the costs of participation. The unique thing is that separating equilibrium that makes participation costs zero for honest individuals and heavy for their dishonest counterparts could in principle be obtained. Interestingly the mechanisms that generate information about the past of intending politicians also impose heavy costs on groups which supply this information
EXTERNAL KNOWLEDGE, ABSORPTIVE CAPACITY AND PHARMACEUTICAL INNOVATION IN NIGERIA
Get PDFStaff PublicationThe global pharmaceutical industry is a multibillion dollar, knowledge-driven sub-sector; where firms‟ innovation and competitiveness depend greatly on external knowledge. The firm‟s ability to recognize, acquire and utilize external knowledge for commercial ends depends on its absorptive capacity. Information on the capability of Nigerian pharmaceutical firms to identify, assimilate and exploit external knowledge is scarce. This study therefore examined the external knowledge sources, absorptive capacity and innovation in Nigeria‟s pharmaceutical industry. A purposive sampling of key players comprising MD/CEOs and Chairman/Captains of industry in 5 out of 8 listed pharmaceutical firms and 3 out of 6 industry associations was conducted in 2013. Information was elicited using questionnaires and semi –structured interview guide. The study found that pharmaceutical firms in Nigeria invested 0.2 to 15 % of their annual sales on R&D. The external knowledge sources for the industry were basically through seminars/conferences, internet, customers and suppliers of input. Others included journal publications, technical reports, training/skill acquisition, workshops and the Pharmaceutical Group meetings. Qualitative assessment of the absorptive capacity of firms in the subsector revealed a medium-to-high level rating. The major determinants of absorptive capacity of the firms included experience, informal interactions, training and educational qualification of staff. Pharmaceutical innovation was majorly in the area of new product and new process developments of generic drugs. No new drug moiety development was recorded in the subsector. The major technology acquisition strategies utilized for new product and process development were in-house R&D, tapping tacit knowledge of staff, and sourcing knowledge from other firms in the industry. Strategic partnership was deployed by foreign-owned and multinational firms as knowledge acquisition strategies for drug discovery and delivery
Numerical Simulation of Temperature Distribution in A Tri-Cycle Engine Piston
Get PDFThis present study will focus on temperature distribution and heat transfer rate which are of much importance especially in spark ignition (SI) engines. This was achieved by formulating a model for analyzing the temperature distribution in an internal combustion engines piston as well as simulates the obtained results using COMSOL- Multiphysics.Pistons as one of the most complex components among all automotives and other industry field components are designed to withstand damage caused due to extreme heat and pressure of combustion process. Many of experimental studies regarding the internal combustion engines process have been carried out, but few had only focused on the numerical studies like stress distribution, thermal and heat transfer analysis. This present study focuses on a 3-D transient state temperature distribution analysis on a gasoline piston model of a tri-cycle. Mathematical model was formulated, solved and simulated using a Finite Element Method (FEM) in-built in the COMSOL Multiphysics software 4.3a to determine the temperature distribution and gradient of the piston model ranging from 523K – 673K. The parameters used for the simulation were liquid (Gasoline), Gases (Air) and Aluminium alloy UNSA96061 (Piston). The Completed mesh tetrahedral consists of 86225 elements and the number of degrees of freedom solved for were 18553 in 367 s (6 minutes, 7 seconds) in the mesh optimization. It was discovered from the results obtained that the temperature in the combustion chamber of the tricycle engine varies with respect to time, along the piston.The transient analysis from the time dependent solver revealed that the temperature of the piston at the TDC (Top Dead Centre) in the first power stroke is higher compared to the subsequent power strokes, which is an indication that more heat was transfer at subsequent power strokes. Probable recommendations were later made.Self-sponsore
LONG RUN LEADERSHIP PRODUCTION AND SELECTION MODEL FOR DEMOCRACIES IN AFRICA
Get PDFWithin the broad agenda of economic development, we suggest a model of leadership production and selection which shows how the optimal number of people required to bridge the gap between actual and potential economic performance could be raised and selected into public office. The honesty and competence of those selected helps to overcome the considerable inertial against take-off of economic development by inculcating common values in peoples from across diverse groups. By imbibing common norms through the school system, we generate economics of scale which otherwise would not be available in scattered, self-governing and well-run communities. The selection process uses the school system to make social progress an important leadership concern and economic advancement an important part of individual utility function. In generating this special breed through the school system, the incompetent individuals are screened out from the competent individuals as well as the honest from the dishonest ones. The honest individuals are sorted into three ability categories for public governance for the three tiers of government in democratic societies. The ultimate aim is to motivate every family towards producing individuals whose characters and competences are compatible with the requirements of developmental states