Corporate Governance and Corporate Performance in Selected Companies in Nigeria.

This paper evaluates corporate governance variables (CGVs) and corporate performance (CP) in Nigerian listed companies. In specific terms, the paper examines CGVs that affect CP, proxied by return on assets (ROA), profit margin (PM) as used in literature but extended to include return on equity (ROE). We used 50 listed companies that cut across the Nigerian stock exchange market. We obtained the CGVs of board size (BOS), board composition (BOC), board ownership (BOO) chief executive status (CES) and audit committee independence (ACI) with corporate governance disclosure (CGD) and enterprise risk management disclosure (RMD) added to our model. Using the ordinary least square (OLS) regression, findings revealed that CGD and RMD are positively and significantly related to ROA and PM. It is suggested on account of these findings, that there should be sustenance of the current corporate policies profile on CGD and RMD as they positively affect CP, while corporate boards, as strategic policy makers should note with caution the CGVs with negative relationships with CP. such caution is required in order to redirect and refocus policies which could minimise the negative impact of such CGVs on CP

Occupational and Dietary Exposures of Humans to Cyanide Poisoning from Large-scale Cassava Processing and Ingestion of Cassava Foods

The biochemical and toxicological effects of occupational and dietary exposure of humans to cyanide poisoning from large-scale cassava processing and ingestion of cassava foods were investigated using spectrophotometric and enzymatic methods. Analysis of urinary and serum thiocyanate (cyanide metabolite) from workers in cassava processing industries, who were 'frequent' [those who eat cassava food(s) at least once a day] and 'infrequent' [those who eat cassava food(s) only occasionally] consumers of cassava-based diets, was carried out with the aid of questionnaries. The mean urinary thiocyanate level of the cassava processors (mean+/-S.D.; 153.50+/-25.21 micromo1/l) was 2.2 and 2.6 times higher than that of frequent (70.1+/-21.8 micromo1/l) and infrequent (mean+/-S.D.; 59.30+/-17.0 micromo1/l) cassava consumers, respectively. The mean serum thiocyanate levels rose to 126.73+/-12.4 micromo1/l for the former and 68.4+/-18.3 and 54.7+/-13.2 micromo1/l, respectively, for the latter. An increase in plasma activity by 10% above normal of aspartate aminotransferase (AST) was observed in 40% of the cassava processors, whereas it was within normal range in all consumers. The activities of alanine aminotransferase (ALT) and alkaline phosphatase (ALK.PHOS) were within the normal value in all cases studied. The blood glucose level of 50% of the cassava processors was 100 mg/ml or above while that of the consumers was in the range of 68-85 mg/100 ml. The total protein, serum albumin and creatinine levels were in the range for normal values for the processors and consumers. The health implications of these findings are discussed

EVALUATION OF CHATTER VIBRATION FREQUENCY IN CNC TURNING OF 4340 ALLOY STEEL MATERIAL

In this study, an experimental investigation of chatter in CNC turning for 4340 Alloy Steel material was carried out. Empirical study of chatter and critical cutting condition in CNC turning has been conducted through a well- designed three-factor three-level experiment, and regression models developed for chatter frequency prediction with up to 99.5% accuracy for the material. The arising model and the mean-effect plots of the cutting speed, feed rate, and depth of cut against Signal-to-Noise (S/N) ratio indicates that increasing feed rates and depth of cuts would bring about increase in chatter vibration frequency while high cutting speeds would have attenuating effects on chatter vibration frequency, thereby suppressing it. The percentage contribution of the cutting parameters to chatter vibration frequency established, and optimal machining condition for the machine chatter optimization obtained at a cutting speed of 320 m/min, feed rate of 0.05mm/rev and depth of cut of 0.5mm. The optimal chatter vibration frequency for the turning tests was found to be 130.00 Hz. With the obtained optimum input parameters for chatter vibration frequency, production operations will be enhanced

The imperatives of internal audit in Nigerian banks: issues and prospects

Many have argued that internal audit plays a pivotal role in enhancing corporate performance in organizations (Oseni, 1994 and Lav, 2004).This is the focus of this paper, using Nigerian recapitalized banks as a reference point. This paper empirically evaluates the relationship between internal audit and corporate performance. In pursuance of this, a survey sampling of the banks was conducted. The dependent variable was corporate performance that was measured by return on total assets (ROTA).The independent variables were the motivation of internal audit staff and the efficiency of internal controls. The data collected for the variables were subjected to the ordinary least square (OLS) regression analysis. The results indicated that motivation of audit staff positively affect bank’s corporate performance; and the efficiency of the internal control was also positively related to corporate performance. It is therefore recommended that Nigerian banks should professionalize the audit departments to optimize the objectives for which they are established.KEYWORDS: Internal Audit, Corporate Performance, Motivation, Internal Control Efficiency, Internal Audit Staf