DEPARTMENT OF ACCOUNTING

In the ever-evolving landscape of financial technology (Fintech), Nigeria has witnessed significant changes in traditional accounting practices over the past two decades (Arner, 2015). From the early 2000s to the present day, Fintech has reshaped the roles of accounting professionals, transformed organizational structures, and influenced regulatory frameworks. In this article, we delve into the fascinating journey of Fintech’s integration into Nigeria’s financial processes. Financial Technology (FinTech) is a term used to describe new technology that seeks to improve and automate the delivery and use of financial services. The term FinTech can be traced back to the early 1990s (Arner, 2015). In recent years, the financial landscape has undergone a profound transformation, driven by the rapid evolution of Financial Technology, commonly known as Fintech. This study delves into the dynamic interplay between Fintech innovations and the established practices of accounting within the Nigerian context, seeking to understand the implications of this digital revolution. Nigeria, with its vibrant economy and burgeoning technological ecosystem, stands at the forefront of Fintech adoption in Africa

The study investigated the ethical and environmental, social, and governance implications of generative artificial intelligence on sustainability practices in Nigeria. The rapid adoption of generative AI has created both opportunities and concerns for organisations striving to enhance sustainable development. The study examined how ethical considerations, environmental responsibility, social impact, and governance practices influence the effective integration of generative AI into sustainability initiatives. A descriptive survey design was adopted. Data were collected from 120 respondents who met the benchmark criteria related to AI, sustainability, and governance. A structured questionnaire was used to assess ethical considerations, environmental outcomes, social effects, governance structures, and sustainability practices. Data were analysed using descriptive statistics, correlation analysis, variance inflation factors, heteroskedasticity diagnostics, and multiple regression at the 5 percent significance level. The findings revealed that ethical considerations significantly improved sustainability practices. Environmental impact demonstrated a meaningful positive influence, indicating that AI-enabled environmental optimisation contributes to sustainability. Social impact also enhanced sustainability practices through inclusiveness, trust building, and knowledge improvement. Governance practices exerted a strong positive effect, showing that oversight, policy compliance, and responsible AI governance are essential for achieving sustainable outcomes. Together, the predictors explained 57.2 percent of the variation in sustainability practices. The study concludes that responsible generative AI adoption depends on ethical values, environmental responsibility, social inclusion, and strong governance structures. Organisations can only achieve sustainable outcomes when AI systems are developed and deployed within these guiding dimensions. The study recommends strengthening ethical frameworks, improving environmental safeguards, promoting socially responsible AI practices, and enhancing governance structures to support sustainable AI integration in Nigeria.

This study investigated airport passengers’ perceptions of taxes and airfares in Benin City, Edo State, Nigeria. The primary objective was to examine how Value Added Tax (VAT), Airport Infrastructure Tax (AIT), Security Tax (ST), and Passenger Service Tax (PT) influence passengers’ perception of airfare affordability and their travel decisions. The study adopted a descriptive survey research design, and data were collected from a sample of 120 airport passengers using structured questionnaires. Descriptive and inferential statistical analyses were conducted, including frequency distribution, mean scores, standard deviation, and multiple regression analysis, to examine the relationships between taxation and passenger behavior. The findings revealed that passengers are aware of the various taxes included in airfares and that these taxes significantly affect both the perceived value for money and travel decisions. VAT was identified as a major contributor to higher ticket prices, while AIT and PT were perceived to improve airport infrastructure and services. Security Tax was acknowledged as necessary for flight safety, although transparency issues were highlighted. Regression results showed that VAT, AIT, ST, and PT collectively have a significant impact on airfare perception, explaining a substantial portion of the variation in travel behavior. The study concluded that aviation taxes play a critical role in shaping passenger perceptions and decisions, and recommended that government authorities, airport operators, and airlines review taxation policies to enhance transparency, affordability, and accessibility. This research contributes to a deeper understanding of the economic and behavioral effects of aviation taxation in Nigeria and provides practical insights for policymakers and industry stakeholders in optimizing air transport pricing strategies.

The study employed a survey research design and used self-administered questionnaires. A sampling design of 100 respondents was selected which composed of 20 wielding shop owners, 20 tailoring shop owners, 20 transportation company, 20 shoe making shop owners and 20 technicians in Edo State. Findings from the study show that electronic tax system has improved tax compliance as it is easy for tax payers to assess their tax obligation accurately and enable them file their returns on time. On other hand, the new system has also helped ease the work of EIRS staff and to a small extent led to an increase in tax collection in Edo State. Findings from the study also show that the attitude of tax payers and that of EIRS staff towards the use of e-tax is positive as a considerable number viewed the use of the system as being good. Findings from the study further indicate that the new system has increased costs on the tax payers side. Findings from the study also show that the current e-tax servers are overwhelmed by the number of users hence they are so slow. Findings from the study further show that the electronic tax filing system has the potential of increasing tax compliance and revenue collection in EIRS but a lot has to be done to avert the obstacles that may not make it possible.

The broad objective of the study was to investigate the relationship between board diversity and corporate tax aggressiveness in Nigeria. The longitudinal research design was used in investigating the extent of tax aggressive practices of the oil and gas companies. This was appropriate for this study because it revealed the relationship among variables in the same group of individuals over an extended period of time so as to establish more robust results. The secondary source of data was used and data were sourced from the Nigerian Exchange (NGX) as at 31st December, 2022 for various years. The study covered a time frame of twelve (12) years from 2011 to 2022. The Panel Least Squares (PLS) estimation technique was adopted for analysis purpose. This was carried out with the aid of the E-views (10.0) software and Excel package. Findings obtained revealed that board independence (BIND) and board ethnic diversity (ETD) have positive and significant relationship with effective tax rate (ETR), board gender diversity has a negative and significant relationship with ETR while board national diversity (NAD), board meeting (BMEET), firm age (FAGE), and firm size (FSIZE) have no significant relationship with ETR. The study concludes that only BIND, GEND, and ETD are good predictors of corporate tax aggressiveness in Nigeria. This study thus recommends that the composition of the board should comprise more non-executive and independence directors, qualified and skillful female directors, and more foreign directors so as to enable the board to perform its supervisory and monitoring roles as expected. This study also recommends that further empirical studies should be conducted using other sectors such as education, service as well as information and communication technology (ICT)

The paper examined economy growth and indirect tax. The objectives of the study were to examine the impact of direct tax on economic growth in Nigeria. To achieve these objectives, secondary data was sourced. Based on these findings, the paper recommended amongst others that Nigeria government should coordinate their industries so that more revenue be generated and should be well managed by channeling it to the critical sectors in the absence of systemic corruption in order to enhance economic growth.

This study examines the effect of audit committee characteristics on the quality of financial reporting among publicly listed non-financial firms in Nigeria., the study investigates the relationship between audit committee attributes, expertise, gender diversity, overlapping membership, tenure, and meeting frequency, and financial reporting quality. The research adopts an ex post facto design. The study used 133 firm-year observations of 19 consumer goods companies listed on the Nigerian Exchange Group (NGX) obtained from annual reports for the period 2018 to 2024. Panel data regression techniques were employed to determine the direction and significance of the relationships between the variables. The empirical findings reveal that audit committee expertise exerts a positive and significant influence on financial reporting quality, highlighting the importance of financial and accounting competence in improving transparency and reliability of financial disclosures. Conversely, overlapping membership within audit committees shows a negative and significant effect, indicating that multiple board responsibilities may compromise independence and focus. Gender diversity, tenure, and meeting frequency were found to have insignificant relationships with financial reporting quality. Based on these results, the study recommends that firms should strengthen audit committee effectiveness by appointing members with strong accounting and financial backgrounds and limiting overlapping committee memberships to maintain independence and oversight quality. Furthermore, regulators such as the Financial Reporting Council of Nigeria (FRCN) and the Securities and Exchange Commission (SEC) should enforce qualification standards and continuous professional development for audit committee members to enhance the integrity of corporate financial reporting in Nigeria.

The primary aim of this research was to examine the effect of electronic tax payment operations in Nigeria using Edo State as a case study. The research adopted both primary and secondary data; primary data were collected through the use of
questionnaire. The study adopts the survey research design. The population of the study consists of Edo State board of Internal Revenue and branches of commercial banks in Edo State. The findings revealed that there are effects of electronic tax payments system on rates collection in Edo State, findings also revealed that
electronic tax payments system has prevented and curb fraud in Edo State and it was recommended that Government should support with everything in their disposal the establishment of e-tax administration so as to start reaping the benefit of high rate of compliance among taxpayers.

The study examined and analyzed corporate social responsibility and it's impact on Organizational performance. Data were primarily sourced through the administration of one hundred (100) questionnaire out of which same number were found usable for the empirical analysis. The descriptive (frequency, mean and percentage) and inferential statistics (regression analysis) were adopted for the study's analysis. Specifically, the analysis revealed that corporate social responsibility has a significant impact on the performance of organizations, positively impact organizational employees, has a significant impact on organizational reputation, and lastly significantly impact organizational customers. As result of the findings, it was recommended that organizations should provide training programs on CSR principles and the impact of the organization's initiatives. This helps employees understand the company's commitment to social responsibility and how they can contribute. Also, organizations should prioritize sustainability and environmental responsibility. Implementing eco-friendly practices will enhance its reputation as a socially conscious entity. Accordingly, organizations should involve customers in CSR initiatives. For example, offer opportunities for customers to participate in charitable activities or environmental programs, creating a sense of shared responsibility.Lastly, organizations should ensure ethical governance and compliance with regulations

This study examines the determinants of tax compliance among small and medium enterprises (SMEs) in Nigeria. The research investigated the influence of six key factors—tax knowledge and awareness, taxpayer attitude and perception, multiple tax rates, government transparency and accountability, enforcement and penalties, and complexity of the tax accounting system—on tax compliance behavior. A quantitative research design was adopted, and data collected from 142 SMEs were analyzed using descriptive statistics, correlation, and multiple regression techniques through E-Views 14.0. The regression results revealed that taxpayer attitude and perception had a negative and significant effect on compliance, implying that negative perceptions about the tax system reduce taxpayers’ willingness to comply. Conversely, multiple tax rates and government transparency showed positive and significant effects, indicating that simplified rate structures and transparent governance enhance compliance. Tax knowledge, enforcement, and system complexity were not statistically significant, suggesting that knowledge and penalties alone may not guarantee compliance without trust and institutional integrity. The model was statistically significant (F-statistic = 5.45, p < 0.01) with an adjusted R² of 0.16, confirming a moderate explanatory power. Diagnostic tests showed no autocorrelation or heteroskedasticity, ensuring model reliability. The study concludes that tax compliance among SMEs in Nigeria is primarily driven by institutional and perceptual factors rather than enforcement. It recommends improving government transparency, simplifying tax structures, and promoting positive taxpayer attitudes to enhance voluntary compliance.