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Reporting earnings to managers and shareholders differently aggravates information asymmetry and distorts stakeholders’ estimates of a firm's value. This study examines the effect of real earnings management (REM) on future financial performance in quoted consumer goods companies in Nigeria from 2001 to 2016. Ex-post Facto research design was adopted with an extensive reliance on secondary data obtained from the audited financial statements of the 22 quoted companies. Sales manipulation (earnings management), ROE and EPS (financial performance) and control variables (firm size, growth and financial strength) were analysed using panel Generalized Method of Moments. The study found that quoted consumer goods companies in Nigeria manipulate their earnings through sales. Though insignificant, (P-value=0.810 and 0.459, the subsequent effect of this manipulation on financial performance proxies is positive. Growth had a positive significant effect (Coeff =0.583 and 0.155, P-value=0.000 and 0.000) while firm size and financial strength are insignificant (p-value =0.140 and 0.134 respectively). The study concludes that subsequent increase in future financial performance as a result of increase in investment (present earnings manipulation will continuously hide the true picture of financial statement published by such companies. It was therefore recommended that Setters of Accounting Standards should limit opportunistic management discretion in treating financial statement transactions, minimise flexibility of standards, while stiffer penalty should be given to companies caught engaging in such act [ABSTRACT FROM AUTHOR]

Phytochemical examination of Berlinia confusa led to the isolation of a monoacylglyceride named 1-O-tetracosaenoyl-sn-1-glycerol (1) as well as two other compounds: sitosteryl-β-D-glucoside (2) and betulinic acid (3) from the dried stem bark of B. confusa. The structure of the new compound was elucidated on the basis of spectroscopic studies and comparison with known related compounds. The extracts and the isolated compounds displayed inhibitory activities against selected gram-positive and gram-negative microorganisms with diameter zone of inhibition values of 15.1 ± 0.3 to 6.0 ± 0.4 mm. [ABSTRACT FROM PUBLISHER]

The nutritional qualities and phytochemical properties of Clerodendrum volubile, an under-utilized leafy vegetable in Nigeria were studied. Proximate analysis showed a high percentage of crude protein and ash contents (12.14%), Nitrogen Free Extract (NFE) had a higher percent (11.2%), while the highest percentage was observed in Dry matter (DM) content (93.3%). Mineral analysis revealed high contents of sulphur, chlorine, manganese, iodine, and zinc, with sulphur content being the highest (131.45 mg/kg). A very high content of vitamin A was observed in the leafy vegetable, high contents of ascorbic acid and cyanocobalamin were also observed while Niacin and Pyridoxine contents were moderately high. Phytochemical analysis showed a high concentration of phenol (4.13%), this was followed by saponin (2.54%). A low concentration was observed in alkaloids (0.79%), while tannin had the lowest concentration (0.15%). Results from this study indicate that the leafy vegetable can serve as a good nutritional source in combating malnutrition. The presence of bioactive compounds is an affirmation of the use of this leafy vegetable in the management of various ailments, and thus may serve as a source of ingredient to the pharmaceutical industries. [ABSTRACT FROM AUTHOR]

Background: Identification of high resolving DNA-based markers is of paramount importance to unlock the potential of genetic diversity and selection of unique accessions of Capsicum annuum L., within Cross River and Ebonyi States of Nigeria, for breeding and conservation. Therefore, we comparatively explored the effectiveness of start codon targeted (SCoT) and directed amplified minisatellite DNA (DAMD) markers for diversity analysis of the accessions. Fifteen accessions were collected for DNA extraction and amplifications with the markers. Results: Dendrograms from SCoT and DAMD categorized the accessions into five and three genetic groups, respectively, while the principal component analysis identified five genetic clusters, each from the markers. The average values of allele, gene diversity and polymorphic information content detected with SCoT and DAMD demonstrate that the two markers were effective and efficient, especially, SCoT in genetic diversity study of the accessions of pepper. Number of polymorphic loci (NPL) and percentage polymorphic loci (PPL) from SCoT (NPL = 64, PPL = 80.00–95.73%) and DAMD (NPL = 56, PPL = 53.33–86.67%) were high, but higher in SCoT markers. Other effective genetic parameters (effective number of alleles, Nei's genetic diversity and Shannon's information indices) identified with the two marker systems elucidated the allelic richness, rich genetic diversity within the populations and informative nature of the markers, especially SCoT. The intraspecific genetic diversity, interspecific genetic diversity, and coefficient of differentiation obtained with SCoT and DAMD further exposed the genetic structure with more genetic divergence within than among the populations of the accessions. Estimate of gene flow from the SCoT markers was 3.8375 and 0.6.2042 for the DAMD markers. The estimate of gene flow values from the markers indicated extensiveness with SCoT (Nm = 3.8375) and extremely extensive with DAMD (Nm = 6.2042) among the populations. Conclusion: This study shows that SCoT markers may be more useful and informative than DAMD in measuring genetic diversity and differentiation of the accessions of the genus Capsicum. Genetic parameters obtained with SCoT showed that the accessions from Cross River were more genetically diverse than the ones from Ebonyi State. Therefore, SCoT may be a preferred marker in evaluating genetic diversity for improvement and conservation of this spicy crop, C. capsicum. [ABSTRACT FROM AUTHOR]