Nnamdi Azikiwe University Journals
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MODERATING ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGY IN CORPORATE GOVERNANCE AND FRAUD DETECTION IN LISTED DEPOSIT MONEY BANKS IN NIGERIA
No full text The study examined the moderating role of information and communication technology on the relationship between corporate governance and fraud detection in listed deposit money banks in Nigeria. Corporate governance was proxied using board competence (BODC), board diversity (BODD) and board independence (BODIND); fraud detection on the other hand was measured using Beneish M-Score Model while the moderating variable of information and communication technology (ICT) was proxied using information and communication technology expenditure (ICTE). Ex post facto research design was adopted and the data for the study was collected from the annual reports and accounts of the 14 listed deposit money banks on Nigeria Exchange Group (NGX) as of December 31, 2024 for the period of 2019-2024. Panel Least squares regression model was used in the data analysis and the results of the study showed a significant and positive association between board competence (BODC), board diversity (BODD), board independence (BODIND) and fraud detection in listed deposit money banks in Nigeria at 1%-5% significant level. Information and communication technology (ICT) was also found to moderate the relationship between corporate governance and fraud detection at 1%-5% level of significance. The study therefore concludes that corporate governance enables fraud detection in listed deposit money banks in Nigeria. Also, ICT moderated the relationship between corporate governance and fraud detection. The study therefore recommends that banks should prioritize the recruitment of highly competent individuals for their boards so as to enable fraud detection in listed deposit money banks in Nigeria. Ensuring diversity across gender could deter the likelihood of fraud commitment in listed deposit money banks in Nigeria. Also, DMBs are encouraged to increase the number of their independent directors in order to reduce the likelihood of fraud commitment
EFFECT OF DIVIDEND POLICY ON FIRM VALUE: EVIDENCE FROM LISTED MANUNFACTURING COMPANIES IN NIGERIA
No full textThis study investigated the effects of dividend policy on the firm value of listed manufacturing companies in Nigeria. The population of the study consisted of 43 manufacturing companies listed on the Nigerian Exchange Group, and a sample of 20 companies was selected using judgmental sampling. The study covered a period of 15 years from 2009 to 2023 and employed the panel generalized method of moments regression to analyze the data. Tobin\u27s Q was used as a proxy for firm value, while dividend payout ratio, dividend yield, dividend per share, and earnings retention ratio were used as proxies for dividend policy. Firm size and liquidity were controlled for in the models. The results showed that dividend payout ratio and earnings retention ratio had a positive and significant effect on Tobin\u27s Q, while dividend yield had a negative and significant effect, and dividend per share had a positive but insignificant effect. Firm size and liquidity had significant and negative effects on firm value. Based on these findings, the study recommended that financial managers in Nigerian manufacturing firms should implement a balanced dividend payout policy, evaluate their dividend yield strategy to avoid compromising growth, identify an optimal dividend policy that aligns with investor preferences, and develop a flexible retention ratio that caters to changing investor demands. By adopting these strategies, managers could enhance firm value, satisfy investor expectations, and promote long-term sustainability. This study provided new evidence on the impact of dividend policy on firm value in the Nigerian manufacturing sector, offering valuable insights for managers, investors, and policymakers
THE IMPACT OF OWNERSHIP STRUCTURE ON FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA
No full text This research examined the impact of ownership structure on the financial performance of listed consumer goods firms in Nigeria. The study adopted a correlational research design and covered a population of twenty-one consumer goods firms listed on the Nigerian Exchange (NGX). From this, a sample of sixteen (16) firms was selected based on the fulfillment of two eligibility criteria over a ten-year period (2015–2024). To analyze the data, the study employed descriptive statistics, correlation analysis, and multiple regression techniques. The findings revealed that ownership structure specifically institutional ownership, managerial ownership, and foreign ownership has an insignificant effect on the financial performance of the selected firms, as measured by Return on Assets (ROA). The results suggest that the structure of firm ownership, while theoretically relevant to corporate governance and performance outcomes, may not be a critical determinant of financial performance within the Nigerian consumer goods sector. This may be due to passive involvement of shareholders, weak enforcement of governance mechanisms, or overriding economic and regulatory constraints affecting firm performance. In light of these findings, it is recommended that the management of listed consumer goods firms in Nigeria should shift focus from mere ownership restructuring and instead invest in strengthening internal corporate governance practices, operational efficiency, managerial accountability, and strategic innovation. Firms should also foster active engagement with shareholders, enhance transparency in financial reporting, and align strategic objectives with long-term value creation. Additionally, policymakers and regulators should support reforms that improve the institutional environment to make ownership mechanisms more impactful in driving firm performance
EFFECT OF BOARD COMMITTEE ON BANKRUPTCY RISK: A COMPARATIVE STUDY OF BANKS IN NIGERIA AND SOUTH AFRICA
No full text The study ascertained the effect of board committee on bankruptcy risk in deposit money banks in Nigeria and South Africa. The specific objectives are to: determine the effect of audit committee independence on bankruptcy risk of deposit money banks in Nigeria and South Africa; and ascertain the effect of board gender diversity on bankruptcy risk of deposit money banks in Nigeria and South Africa. This study adopted the ex-post facto research design. A sample of eight deposit money banks, each from the two countries was purposively selected while other banks were inevitably excluded for incomplete data. The data were extracted from the annual reports and accounts of the selected banks in Nigeria and South Africa. The panel data were analyzed with descriptive statistics, and inferential statistics using Pearson correlation, and panel regression analysis. The study showed that the audit committee independence had a positive and significant effect on bankruptcy risk for Nigeria and South Africa. The result revealed that board gender diversity had a negative and significant effect for Nigerian deposit money banks, while in South Africa revealed a positive but has no significant effect on bankruptcy risk. Based on the findings, audit independence should be encouraged hence it creates an avenue for collective deliberates on issues that are significant to the banks such that straighten their operations, as well as preventing it from going bankrupt
SUSTAINABILITY REPORTING AND FINANCIAL PERFORMANCE OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA
No full textThe study examined the effect of sustainability reporting on the financial performance of industrial goods firms listed in Nigeria. The study specifically determined the effect of social sustainability reporting, economic sustainability reporting, environmental sustainability reporting and governance disclosures on Economic Value Added. The study adopted the ex-post facto research design. Thirteen listed industrial goods firms made up the population of the study. Purposive sampling was used to select the sample size of nine firms. The study used secondary data which were sourced from the annual reports of the firms over a thirteen year period (2012-2024). Descriptive analysis was carried out together with multicollinearity test, heteroskedasticity test, cross-sectional dependence test and Hausman specification test. Hypotheses were tested using panel least square regression, which revealed the following findings: social sustainability reporting has a positive and significant effect on Economic Value Added of listed industrial goods firms in Nigeria (β = 0.9083, p = 0.0000); economic sustainability reporting has a positive and significant effect on Economic Value Added of listed industrial goods firms in Nigeria (β = 4.4605, p = 0.0029); environmental sustainability reporting has a negative and significant effect on Economic Value Added of listed industrial goods firms in Nigeria (β = -0.5718, p = 0.0000); governance disclosures have a negative and significant effect on Economic Value Added of listed industrial goods firms in Nigeria (β = -2.0663, p = 0.0061). In conclusion, initiatives aimed at enhancing social welfare and economic stability, such as employee development, community engagement and infrastructure investment, are well-received by stakeholders and could translate into higher productivity, brand equity, and long-term financial gains. The study recommended that Industrial goods firms need to appoint sustainability officers in order to intensify and institutionalize social sustainability initiatives such as employee engagement programs, health and safety policies, and community development projects, as these have been empirically shown to contribute positively and significantly to economic value added, enhancing both social impact and financial performance.
 
SELF - EFFICACY AS A PREDICTOR OF PHYSICAL ACTIVITY PATTERNS AMONG OLDER ADULTS IN SOUTH-EASTERN NIGERIA
No full textBackground: Physical activity plays a vital role in promoting healthy aging. Exercise self-efficacy, the belief in one’s ability to engage in physical activity despite challenges, is a key determinant of exercise behaviours among older adults. Understanding the interaction between these variables is essential for designing effective interventions.
Aim: To examine the relationship between self-efficacy and physical activity levels among older adults and explore the influence of sociodemographic factors such as age, gender, marital status, and educational attainment on these constructs.
Methods: A cross-sectional study was conducted among 400 community-dwelling older adults (≥ 65 years) selected using disproportionate stratified sampling across four quarters of Nnewi, Anambra State. Data was collected using the Exercise Self-Efficacy Scale, the Physical Activity Scale for the Elderly, and a structured sociodemographic questionnaire. Descriptive statistics of mean and standard deviation, as well as Spearman\u27s rank order correlation, Mann–Whitney U test, and Kruskal–Wallis test were used for data analysis with level of significance set at < 0.05.
Results: Most of the participants exhibited low physical activity levels and moderate exercise self-efficacy. A weak but significant positive correlation was found between exercise self-efficacy and physical activity (r = 0.292, p < 0.001). Age was negatively correlated with both physical activity (r = -0.351, p < 0.001) and self-efficacy (r = -0.240, p < 0.001). Educational level and marital status significantly influenced both outcomes, while gender differences were not statistically significant.
Conclusion: The findings highlight a significant association between self-efficacy and physical activity in older adults, emphasizing the need for interventions that enhance self-efficacy and reduce barriers to physical activity. Tailored programs that consider age, education, and marital status may improve physical activity participation among older adults in this setting
Inhibition of Mild Steel Corrosion in Alkaline Media Using Imidazolium-Based Ionic Liquid
No full textThis study investigated the inhibition potentials of synthesized ionic liquid on mild steel corrosion in 1 M NaOH media, and the inhibition efficiency was evaluated. The synthesized ionic liquid achieved a maximum inhibition efficiency of 93.4% at 0.7 g/L inhibitor concentration and 313 K. Potentiodynamic polarization and electrochemical impedance spectroscopy revealed significant improvements in corrosion resistance, with a maximum charge transfer resistance of 136.5 Ω·cm². Adsorption studies indicated that the inhibitor adhered to the Langmuir isotherm (R² = 0.9961), and this finding implies monolayer adsorption of inhibitor molecules onto a homogeneous metal surface. The activation energy increased with inhibitor concentration, from 6.81 kJ/mol at 0.1 g/L to 78.49 kJ/mol at 0.9 g/L. The exothermic adsorption process was characterized by a maximum adsorption energy of -90.71 kJ/mol at 0.7 g/L. Scanning electron microscopy revealed that the steel surface smoothened upon the addition of the inhibitor. Density Functional Theory analysis further confirmed the strong adsorption and reactivity of the inhibitor molecule
Parametric determination of Ethanol yield from cocoyam and Cassava Peel Mix
No full textThe rising global demand towards sustainable energy has created a need for research into alternative biofuels. This study was carried out on parametric determination of ethanol yield from substrate of wild cocoyam (Colocasia esculenta) and cassava peel (Manihot esculenta) in mixture. This study used Box-Behnken Design (BBD) to opt for protein isolation from Cassava Peel Cellulose (CPC) and starch of Wild Cocoyam (WCS), were evaluated as glucose and ethanol. Carbohydrate composition of the substrates was determined by proximate analysis which revealed that cassava peel was higher in carbohydrate (87.69%) than wild cocoyam (77.37%) and an indication that both are good feedstock for bioethanol production. The Central Composite Design (CCD) was used for the optimization of fermentation. Cassava peel cellulose range of glucose yield from 8.96% to 45.5%, whereas, wild cocoyam starch range was from 6.07% to 42.28% as glucose. Quadratic regression models provided the best fit for predicting glucose yield, with high coefficients of determination (R² = 0.9977 for cassava peel and R² = 0.9967 for wild cocoyam), confirming the significance of the process variables. Ethanol yield was determined using standard ethanol density comparisons and a specific gravity meter, and bioethanol-gasoline fuel blends (E10, E15, E20, and E25) were assessed for potential alternative fuel applications. The findings indicate that CPC glucose yield ranged from (8.96%–45.5%), while WCS glucose yield ranged from (6.07%–42.28%). A quadratic model best explained variations, with R² values of (0.9977) for CPC and (0.9967) for WCS. ANOVA results confirmed model significance (F-values: CPC—339.92, WCS—232.81; p < 0.0001). Response surface plots showed optimal glucose yields within specific design boundaries. Regression equations identified acid concentration, temperature, and time as key influencing factors, with positive coefficients enhancing yield and negative coefficients reducing it. The study concludes that agro-waste materials can be harnessed for sustainable biofuel production, with future research recommended on enzymatic hydrolysis and large-scale bioethanol production feasibility
Determining the optimal orientation for solar panels – a comparison amongst selected software
No full textThe angle of tilt between solar panels and the horizontal plane determines the amount of solar radiation falling on the panel. Therefore, selecting an optimal tilt angle is essential to maximize captured solar irradiance. Due to the complexity and cost of solar tracking systems, it is often preferable for panels to be installed at a fixed tilt angle especially for large array of panels. In this work, the optimal tilt angle for a 600kW solar system is investigated using Okorobo-Ile town, Andoni Local Government Area of Rivers State (Latitude/Longitude: 4.47N, 7.54E) as a case study. The software used for this investigation are: Photovoltaic Geographic Information System (PVgis), Renewable Energy and Energy Efficiency Technology Screening Software (Retscreen), Photovoltaic System (PVsyst) and Hybrid Optimization of Multiple Energy Resources (Homer). The results show that all the software yield a tilt angle of 8°, while the azimuth angles range from 0° to 41°. Among the software reviewed, PVGIS demonstrated the highest ease of use and the fastest response time for determining optimal angles
Modeling the Impact of Climate Change on Soil Erosion and Flooding Using Remote Sensing and Geographic Information System (GIS)
No full textClimate change significantly impacts soil erosion and flooding in agricultural zones, intensifying environmental degradation. This study models and predicts these effects in the Aguata Agricultural Zone of Anambra State, Nigeria, using Geographic Information System (GIS) and remote sensing techniques. The Revised Universal Soil Loss Equation (RUSLE) and Watershed Erosion Prediction Project (WEPP) were used to develop susceptibility maps. Factors of the rainfall erosivity (R-factor), soil erodibility (K-factor), slope length and steepness (LS-factor), vegetation cover (C-factor), and conservation practices (P-factor) were analyzed. The study reveals a mean soil erosion rate of 0.79 tons per hectare per year, while the soil erosion next ten years’ prediction model indicates an increase to 0.82 tons per hectare per year. Likewise, the flood model recorded a total flow accumulation of 2,823,864.50 m², an average flow accumulation of 13.81 m², a current mean flood risk of 10.98 mm, a total flood risk of 2,244,474.11 mm, respectively. However, the flood prediction model reveals a rise to 22.12 mm mean flood risk and 4,523,622.06 mm total flood risk over the next decade due to increased rainfall. Both studies underscore the critical need for effective mitigation strategies, improved drainage systems, and climate adaptation policies to combat soil erosion and flooding. Implementing sustainable conservation measures will be essential in minimizing climate change\u27s adverse effects on agriculture in the region