Nnamdi Azikiwe University Journals
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DRIVERS OF AUDITORS’ INCLINATION TOWARDS ACCOUNTABILITY AND TRANSPARENCY IN THE NIGERIAN PUBLIC SECTOR
No full text The issues of accountability and transparency have been a major focus in the enthronement of sound public finance management (PFM) globally. Given the inconsistencies in the Nigerian PFM system and expected role vested on auditors internally and externally, this study examines determinants of auditors’ proclivity towards evidential accountability and transparency. The study relies on cross-sectional survey design achievable via close-ended questionnaire to collect data. The responses of 302 auditors across Federal and Kwara State ministries, departments and agencies are analysed using PLS-SEM to test the study’s five hypotheses formulated. It is found that all the identified factors except auditees’ behaviour positively explain Nigerian public sector auditors’ inclination towards accountability and transparency. However, among the factors with positive impact, audit facilities, external and the regulatory and institutional reform factors are superior given their statistical significant coefficients. These findings emphasise that to institutionalise accountability and transparency through public sector audit, huge investments have to be made in the 21st century audit facilities, all-inclusive global best practices in public sector audit should be adopted and there should be rare political class unholy influence in the audit process in Nigeria. However, the auditors’ inclination towards accountability and transparency in Nigeria stands to be unceasingly unsatisfactory until unfavourable human resource and auditees’ behaviour angles as established are attended to by concerned stakeholders. The contribution of this study to the relevant literature can be inferred from its focus on enthroning accountability and transparency in the polity via sound public sector audit which is a vital ingredient of sound PFM. Conversely, the fact that the study’s respondents are domicile in a State despite being employees of both Federal and State governments provides avenue for further studies with the focus on a geo-political zone or the country at large
THE SILENT FORCE BEHIND CORPORATE WEALTH: HOW ETHICAL BEHAVIOUR SHAPES FINANCIAL SUCCESS IN NIGERIA’S LISTED FIRMS
No full text The nexus between corruption mitigation and corporate financial performance, particularly Return on Assets (ROA), is intricate and multidimensional. Although the curtailment of corrupt practices ostensibly enhances various facets of a firm\u27s fiscal robustness, ROA inclusive,this interplay is often neither linear nor unambiguous. Anchored in this complexity, the present study explores the covert yet consequential influence of ethical conduct on financial prosperity among firms listed on the Nigerian Exchange Group (NGX), with particular emphasis on the mediating role of earnings quality. Drawing from a robust dataset comprising 152 firm-year observations (originally derived from the Nigerian Stock Exchange but recontextualised herein for applicability to Nigeria), the research scrutinises the extent to which regional corruption levels—measured via corruption per capita metrics in firm-headquartered states—impinge upon the quality of reported earnings. Earnings quality is operationalised through three interrelated constructs: earnings persistence, value relevance, and predictive capacity. Employing panel regression models that control for both firm-specific and state-level heterogeneities, the study establishes a statistically significant inverse correlation between corruption and earnings quality. Elevated corruption levels are linked with compromised internal control mechanisms, exacerbated information asymmetry, and a degradation of managerial competence—all of which collectively impair the integrity of financial reporting. By situating its empirical lens within the Nigerian corporate milieu, where systemic corruption remains pervasive (Transparency International, 2023), this research augments extant literature by corroborating the salience of social capital theory. It contends that ethical behaviour functions as a latent catalyst for sustainable financial success. The findings proffer vital implications for regulatory agencies, civil society, and corporate actors in Nigeria, advocating for enhanced oversight, normative reinforcement, and institutional reforms to fortify ethical accountability. This study thus provides a critical evidentiary basis for recalibrating public policy and corporate governance frameworks in Nigeri
CORPORATE GOVERNANCE MECHANISMS AND FINANCIAL REPORTING QUALITY IN NIGERIA
No full text This study examined the influence of corporate governance mechanisms on the financial reporting quality (FRQ) of listed manufacturing firms in Nigeria from 2015 to 2022. Employing agency theory as its theoretical underpinning, the research investigated six governance variables namely board size, and board independence. Financial reporting quality is measured using discretionary accruals derived from the Modified Jones Model. The study adopted a robust quantitative methodology, analyzing secondary data from the annual reports of 49 manufacturing firms. Diagnostic tests, including heteroskedasticity, multicollinearity, mis-specification, and normality assessments, ensure the reliability of the regression results. Key findings revealed that board size negatively and significantly impacts FRQ. In contrast, board independence demonstrated insignificant effects, with varying directional influences. To address outliers and enhance model robustness, robust regression techniques were employed. The results emphasized the critical role of optimizing board composition and leveraging foreign ownership to enhance transparency and accountability in financial reporting. This study contributes to the ongoing discourse on corporate governance in emerging economies, offering valuable insights for policymakers, practitioners, and stakeholders in the manufacturing sector. Recommendations include fostering regulatory frameworks that support balanced board structures, enhancing gender diversity, and attracting foreign investment to align corporate practices with global governance standards. By addressing governance challenges, this research underscores the potential for improved financial reporting quality to promote investor confidence and economic stability in Nigeria
FINANCIAL TECHNOLOGY AND FINANCIAL PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA
No full text The study determined the effect of financial technology on financial performance of deposit money banks in Nigeria. The study developed three proxies for measuring financial technology which are automated teller machine transactions, mobile banking transaction and point of sale transaction, the study also proxy financial performance using return on investment. The made used of 14 quoted deposit money banks in Nigeria as the population and the study used 10 banks out of the total population as sample size using judgmental sampling techniques to select the sample size. The study adopted ex-post facto research design and used least square regression model. The data used for this study were collected from the Statistical Bulletins of the Central Bank of Nigeria covering the period 2012 - 2023. The result of the analysis of this study shows that automated teller machine transaction has a negative but statistically significant effect on the financial performance of deposit money banks in Nigeria. While Mobile banking transaction and point of sale transactions exerted positive but non-significant effect on return on assets within the period under review. Therefore, the study concludes that, bank management and strategy formulation of banks in Nigeria should take note of negative and significant relationship between value of automated teller machine transactions and return on asset this may suggests that banks may face problems in managing the costs of ATM services. These costs could include maintenance and cash handling, which, if not carefully managed, can pulled down profitability. The study therefore recommend that; Bank management should conduct a comprehensive review of the costs associated with ATM services and implement strategies to optimize the use of ATMs, such as by reducing the number of underutilized machines or enhancing operational efficiencies to reduce costs and improve profitability. The digital banking teams should focus on developing and promoting mobile transaction platforms by increasing user engagement and transaction volumes, as these channels currently have untapped potential
FORENSIC AUDIT SKILLS AND FRAUD CONTROL IN SELECTED MINISTRIES, DEPARTMENTS AND AGENCIES IN SOUTH EAST NIGERIA
No full text The study evaluated the effect of Forensic Audit skills on fraud control in Ministries, Departments and Agenncies in the South East Nigeria. Specifically, the study ascertained the effect of forensic arbitration skills on fraud control in Ministries, Departments and Agencies in South-East, Nigeria. It also investigated the effect of forensic litigation skills on fraud control in Ministries, Departments and Agencies in South-East, Nigeria. Deploying the survey research design, a total of 260 Respondents was determined using Yaro Yamanene formula and sampled in MDAs in the 5 States namely Anambra, Abia, Ebonyi, Enugu, and Imo States which constitute the South East region of Nigeria. A 5-point rating scale well articulated google form-based research e-questionnaire served as the channel for the harvest of opinion from the Respondents. The Multiple regression analytical technique was used to test the relevant hypotheses, and the study found that that forensic arbitration skills have a significant and positive effect on fraud control (coefficient 0.382; p-value 0.0000). It further discovered that forensic litigation skills significantly and positively affect fraud control in MDAs (coefficient 0.241; p-value 0.0000). Based on these results, the study concludes that. a systemic linkage where the application of forensic capabilities not only influences the perception and management of fraud but also integrally tied to broader organizational integrity mechanisms is existent. The study therefore recommends that the Directors of Internal Audit in MDAs need to formulate and implement internal fraud control policies that utilize forensic arbitration methods—such as expert-led hearings and negotiated settlements—to swiftly resolve suspected fraud cases, reduce operational disruptions, and enhance compliance culture. Also, the Chairman of the Economic and Financial Crimes Commission (EFCC) should collaborate with the judiciary to create fast-track courts for fraud-related litigation supported by forensic audit evidence, ensuring timely adjudication and stronger fraud control outcomes in the public sector
FINANCIAL MANAGEMENT PRACTICES AND PERFORMANCE OF MINISTRIES, DEPARTMENTS AND AGENCIES (MDAS) IN SOUTH WEST NIGERIA
No full text This study examined the effect of financial management practices on performance of Ministries, Departments, and Agencies (MDAs) in South-west Nigeria. A two-stage sampling technique was used to select the participants. Primary data was obtained through the administration of questionnaire to 262 respondents out of the total population of 824, comprising employees of the Board of Internal Revenue, Accountant-General and Auditor General Office for the State, and the Ministry of Finance, Budget, and Planning across six South-west states. Data obtained was analyzed using descriptive statistics and Correlations, and Partial Least Squares-Structural Equation Model PLS-SEM. The results revealed that financial budgeting practices (t-stat=5.26, p-v<0.05) had a positive and significant effect on the performance of (MDAs) in South-West Nigeria. This suggests that effective budgeting practices enable MDAs to allocate resources more efficiently and transparently. Furthermore, financial oversight practices (t-stat=1.819 , p-v<0.10) had a positive and significant effect on organisational performance of MDAs. In addition, modern financial tools had a positive and significant effect on organisational performance of MDAs(t-stat=11.786, p-v<0.10), implies that modern financial tools allows for better cash management by consolidating government funds into a single account. The study concluded that the financial management practices serve as a critical yardstick for assessing performance within the public sector of the Southwest states. The study recommended that the government should periodically assess and update policies as well as implementation related to financial management practices. MDAs should formally adopt and institutionalize the financial management practices that have shown positive impacts on performance. Government urgently needs to reassess the internal control system so as to curb excessive spending among the MDA
EFFECT OF COMMUNITY PROJECTS, EMPLOYEE TRAINING AND DEVELOPMENT DISCLOSURES ON EARNINGS MANAGEMENT STRATEGIES IN NIGERIAN LISTED MANUFACTURING COMPANIES
No full text The study evaluated the effect of community project disclosure, employee training and development disclosure on earnings management of listed manufacturing firms on Nigeria. Exchange Group. Ex- post facto research design was used. The population of the study was made up of forty - two (42) manufacturing firms listed on the Nigerian Exchange Group floor as at 31st December, 2023. Judgmental sampling technique was used to select thirty – eight (38) manufacturing firms as the sample size. Data were obtained from secondary sources for a period of twelve years covering 2012 to 2023. The data obtained were analyzed by Ordinary Least Square (RLS) multiple regression technique through E-view version 10.0 software. The study found that community projects disclosure has no significant effect on discretionary accrual earnings management while employee training and development disclosure have significant effect on discretionary accrual earnings management of listed manufacturing firms on Nigeria Exchange Group. The study recommended among others that Policy makers should establish industry-specific employee training and development performance metrics to enable companies to measure and report their performance. While company management should provide transparency and accountability in employee training and development disclosure, including details on employee training and development programs, policies, and expenditure
EVALUATION AND CHARACTERIZATION OF MULTIDRUG-RESISTANT BACTERIA ISOLATED FROM RAW BEEF AND CHICKEN LOCALLY SOLD AT NNEWI MARKETS IN ANAMBRA STATE, SOUTH-EASTERN, NIGERIA
No full textBackground: The emergence and rapid spread of microbes resistant to affordable and effective first-line antibiotics have become a widespread challenge accounting for a significant portion of the global infectious disease burden. In Nigeria, surveillance and documentation of antimicrobial resistance patterns remain inadequate, with only a limited number of studies available on bacterial prevalence and resistance trends. This lack of oversight exacerbates the challenge of combating antimicrobial resistance in the country.
Aim: This study aimed to evaluate and characterize multidrug-resistant bacteria isolated from raw beef and chicken locally sold at Nnewi markets.
Methods: This descriptive, cross-sectional study was conducted between April and September 2024 across four major markets in Nnewi Metropolis. Forty raw meat samples (28 beef and 12 chicken) were aseptically collected and transported to a research laboratory for microbial analysis. Bacterial isolates were cultured, identified, and tested for antibiotic susceptibility using the Kirby-Bauer method. Highly resistant isolates were further characterized using 16S rRNA sequencing.
Results: A total of 65 bacterial isolates were obtained—61.5% from beef and 38.5% from chicken—mainly Gram-negative bacilli. High resistance was recorded for metronidazole (100%), Ceftazidime (87.7%), and Amoxicillin-Clavulanic (84.6%), while none showed resistance to ciprofloxacin and levofloxacin. No significant difference in resistance patterns between beef and chicken was observed (p = 0.11–0.95). Twenty-four isolates (36.9%) were multidrug-resistant (MARI > 0.5).
Conclusion: The presence of MDR bacteria in these meat products poses a serious threat to consumers.
Recommendation: Strengthening routine antimicrobial surveillance and enforcing hygienic meat processing standards are urgently needed
COMPARATIVE EFFECTS OF GROUNDNUT OIL AND PALM OIL ON LIPID PROFILE OF ADULT WISTAR RATS
No full textBackground: The consumption of groundnut oil and palm oil have become common in our daily diets. These oils are edible vegetable oils widely consumed globally and are composed of saturated and unsaturated fatty acids. While these oils are often promoted for their perceived health benefits, emerging research suggests potential implications for lipid profiles. They are said to be pro atherogenic and can be responsible for cardiovascular complications.
Aim: This study was aimed to assess the comparative effects of groundnut oil and palm oil on lipid profile of Wistar Rats.
Materials and Methods: Fifteen (15) Adults Wistar rats weighing between 90-100g were procured for this study. They were divided into three (3) groups of five (5) rats each. All the animals were given rat chow and normal saline ad libitum. The Control group (Group 1) was given rat chow and normal saline only. The Sample groups; Group 2 was administered with 100mg/kg of groundnut oil while Group 3 was given 100mg/kg of palm oil for 21 days. The weight of the animals before and after the administration were recorded.
Results: Increase in body weight was seen across all the groups (both control and sample). The average body weights of the control group, Group 2 and Group 3 were 110, 115 and 119 grams respectively which indicates that the sample groups were significantly different when compared with the control group (P˂0.05). That of sample group 2 indicates a statistically significant difference in relation to sample group 3 (P˂0.05). The Control group (Group 1) had the lowest cholesterol level (70.01±0.03 mg/dl) while the rats administered groundnut oil (Group 2) had the highest cholesterol level (100.07±0.17 mg/dl). The cholesterol level of the rats administered with palm oil (Group 3) was (85.50±0.07 mg/dl). The Control group had the highest value for HDL (110.78±0.06 mg/dl), followed by Group 3 (89.66±0.02 mg/dl) while Group 2 had the least HDL level (80.50±0.06 mg/dl). The triglyceride and LDL levels were highest in Group 3 (100.92±0.02 mg/dl and 90.78±0.04 mg/dl respectively), followed by Group 2 (80.87±0.07 mg/dl and 80.70±0.06 mg/dl respectively). Group 1 had the lowest triglyceride and LDL levels (70.80±0.00 mg/dl and 72.48±0.48 mg/dl respectively).
Conclusion: Groundnut oil was seen to increase the lipid profile more than the palm oil. Excessive intake of these vegetable oils should be avoided to prevent elevated lipid profile which may predispose an individual to cardiovascular diseases. Keywords: Palm oil, Groundnut oil, Body weight, Lipid profile, cardiovascular diseases
Performance analysis of water-based drilling mud through rheological modeling
No full textThis study evaluates the rheological behavior of water-based drilling mud using four widely recognized rheological models: Power Law Rheological Model (PLRM), Bingham Plastic Rheological Model (BPRM), Herschel-Bulkley Rheological Model (HBRM), and Casson Rheological Model (CRM). Experimental data were collected, and shear stress predictions from each model were compared with measured values across varying shear rates. The CRM consistently demonstrated superior accuracy, achieving the lowest absolute average percentage error (AAPE) across samples: 5.54% for NC, 3.23% for NC1, 5.28% for NC2, and 5.23% for NC3, with corresponding standard deviations of 3.85, 2.34, 3.10, and 2.82, respectively. HBRM followed closely with AAPE values of 6.37% for NC, 3.26% for NC1, 5.66% for NC2, and 5.31% for NC3. Conversely, BPRM exhibited the poorest performance, with AAPE values as high as 43.21% for NC, 42.11% for NC1, 19.68% for NC2, and 42.45% for NC3, reflecting its limited predictive capability. These findings highlight the significance of accurate rheological modeling in managing viscosity and shear stress, critical factors in optimizing drilling fluid performance. The CRM’s robust performance across a range of shear rates establishes it as the most reliable model for predicting the rheological properties of water-based drilling mud, offering valuable insights for improving drilling fluid design and operational efficiency