Corporate Governance

This study investigates the relationship between corporate governance mechanisms and circular economy disclosure level (CEDL) among listed manufacturing firms in Nigeria, against the backdrop of increasing global emphasis on sustainability, resource efficiency, and environmental accountability. Despite the growing importance of circular economy practices, corporate disclosure in this domain remains largely voluntary, inconsistent, and underdeveloped in emerging economies, raising concerns about transparency and accountability. This study addresses this gap by examining whether corporate governance mechanisms serve as effective drivers of circular economy disclosure within the Nigerian institutional context. The study adopts an ex post facto research design and utilizes panel data from forty-one (41) manufacturing firms listed on the Nigerian Exchange Group over a seven-year period (2018–2024). Circular economy disclosure is measured using a 18-item disclosure index adapted from established literature, while corporate governance variables include board size, board gender diversity, board independence, board tenure, board diligence, and the presence of a CSR committee, with firm size included as a control variable. Data were sourced from annual reports and analyzed using fixed effects panel least squares regression, with robust standard errors applied to address heteroskedasticity and serial correlation. The findings revealed that corporate governance mechanisms exert differential effects on circular economy disclosure. Specifically, board gender diversity has a positive and statistically significant influence on CED, indicating that firms with higher female representation on their boards demonstrate greater transparency in circular economy reporting. In contrast, board size exhibits a negative but weakly significant relationship, suggesting that larger boards may hinder effective CED-oriented decision-making. However, board independence, board tenure, board diligence, and the presence of a CSR committee are found to have no significant impact on CED, implying that these governance mechanisms may be largely symbolic rather than substantive within the Nigerian context. Firm size, however, shows a strong positive and significant relationship with CED. The study concludes that effective circular economy disclosure in Nigeria is less dependent on formal governance structures and more influenced by board composition and organizational capacity. It contributes to the literature by providing context-specific empirical evidence from an emerging economy, extending corporate governance and sustainability disclosure research into the circular economy domain. The findings have important implications for policymakers, regulators, and corporate stakeholders, particularly in designing governance frameworks that promote substantive, rather than symbolic, sustainability disclosure practices.

This study examines the role of corporate governance and regulatory compliance in the
sustainability of startups in Nigeria, with emphasis on statutory obligations under the
Companies and Allied Matters Act 2020, the Nigeria Startup Act 2022 and relevant
regulatory codes. A doctrinal and empirical approach was adopted, involving analysis of
primary and secondary legal materials alongside data obtained from structured questionnaires administered to selected Nigerian startup founders. The findings reveal that while 92% of the surveyed startups were formally registered with the Corporate Affairs Commission, only 34% filed annual returns, 58% operated without a formal board structure, and governance processes were largely undocumented. Weak compliance awareness, limited financial resources, regulatory complexity and founder-centric decision making were identified as the major causes of governance gaps. The study concludes that startups with early governance adoption, documented internal controls and active compliance reporting demonstrate stronger investor appeal and long-term viability. It recommends regulatory education for founders, streamlined compliance procedures and increased investor-supported governance culture. This research contributes to existing scholarship by extending corporate governance analysis to early-stage, technology-driven ventures, a sector often overlooked in Nigerian legal literature. Keywords: Corporate Governance, Compliance, Startups, CAMA 2020, Nigeria Startup Act 2022, Investor Confidence, Sustainability.

This study investigates the value relevance of accounting information and the moderating role of board characteristics in the Nigerian banking sector. Using panel data from twelve banks listed on the Nigerian Exchange Group (NGX) over the period 2018 to 2023, the study examines how earnings per share (EPS), book value per share (BVPS), cash flow from operations per share (CFOPS), and dividend per share (DPS) influence market valuation, proxied by share price, while considering the moderating effects of board size and board independence. Descriptive statistics reveal significant variation in accounting metrics across banks, while correlation analysis indicates strong positive relationships between share price and key accounting variables. Fixed effects panel regression results confirm that EPS, BVPS, CFOPS, and DPS are significant determinants of share price, affirming their value relevance. The moderated regression analysis further demonstrates that board independence significantly strengthens the relationship between EPS and share price, while board size exhibits a more nuanced moderating effect limited to earnings. These findings underscore the critical role of independent governance in enhancing the credibility of financial reporting and its usefulness for investors. The study contributes to the literature by highlighting the interplay between accounting information and corporate governance in emerging markets and offers practical implications for regulators, bank management, and investors seeking to improve market valuation and financial transparency

This study examined the influence of audit characteristics on the financial reporting quality of deposit money banks listed on the Nigerian Exchange. The main objective was to assess the effects of audit firm tenure, audit firm size, and non-audit services on the credibility and transparency of financial reports. The study adopted an ex-post facto research design and utilized secondary data collected from annual reports of twelve listed banks covering the period 2016 to 2023. The data were analysed using panel regression analysis with robust standard errors to account for heteroskedasticity. The study finds that audit firm tenure has no significant impact on financial reporting quality, indicating that the duration of auditor-client relationships does not independently determine reporting outcomes in the Nigerian banking sector. However, audit firm size showed a significant positive relationship with financial reporting quality, suggesting that larger audit firms contribute to higher transparency and reliability due to their extensive expertise and stronger regulatory oversight. Additionally, non-audit services exhibited a significant positive effect on financial reporting quality, implying that when properly managed, these services can enhance auditors’ operational understanding and improve audit effectiveness rather than compromise independence. The study concludes that audit firm size and non-audit services are critical determinants of financial reporting quality among Nigerian deposit money banks, while audit firm tenure plays a limited role. The study recommends that regulators encourage the use of reputable large audit firms and implement guidelines to manage non-audit services effectively to strengthen overall audit quality and financial transparency in the sector

The financial performance of firms, especially Deposit Money Banks (DMBs), plays a pivotal role in determining economic stability, investor confidence, and overall national development. At the core of this performance lies corporate governance, with the board of directors serving as a critical determinant of governance effectiveness. Acting as the bridge between shareholders and management, the board of directors is tasked with ensuring that the organization operates in alignment with stakeholder interests. Through its strategic oversight and decision-making roles, the board has a profound impact on a firm's financial outcomes, sustainability, and competitive positioning (Fama & Jensen, 1983). These studies, while insightful, leave notable gaps in understanding. Most of the existing literature has been conducted in developed countries, where governance frameworks, market dynamics, and cultural factors differ significantly from those in Nigeria. Moreover, few studies have examined the combined influence of board size, gender diversity, and board independence on financial outcomes in Nigeria’s banking sector. The inconclusive findings on gender diversity and the context-dependent effects of board independence further emphasize the need for research tailored to Nigeria’s financial and regulatory landscape.

This study examined the effect of corporate governance mechanisms on the performance of listed insurance firms in Nigeria over the period 2015 to 2024. The main objective was to investigate how board independence, board diversity, board size, and CEO duality influence firm performance measured by return on assets. The study adopted an ex-post facto research design and relied on secondary data obtained from the published annual reports of ten purposively selected insurance companies listed on the Nigerian Exchange Group. The population comprised twenty-eight listed insurance firms as of December 2024. The study employed panel data analysis using both the Fixed Effects and Random Effects models. The Hausman specification test was conducted to determine the most appropriate model for estimation, and the test result favoured the Fixed Effects model. Descriptive statistics and correlation analysis were used to summarise the data and examine the relationships among the variables, while regression analysis was applied to test the study hypotheses. The findings revealed that board independence, board diversity, and board size each have a positive and statistically significant effect on firm performance, whereas CEO duality has a negative and significant effect. The results imply that firms with more independent and diverse boards and optimal board sizes perform better financially, while those combining the roles of CEO and board chair tend to underperform. The model explained approximately 61.1 percent of the variation in firm performance, indicating a strong explanatory power. The study concludes that effective corporate governance mechanisms are crucial for improving profitability and ensuring the long-term sustainability of insurance firms in Nigeria. It recommends that companies should strengthen board independence, promote gender diversity, maintain optimal board sizes, and separate leadership roles in order to enhance accountability, transparency, and performance. The study contributes to existing literature by providing empirical evidence from the Nigerian insurance industry and by demonstrating the applicability of panel data techniques in assessing governance–performance relationships in emerging markets.

Accounting has been described as the science of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are in part at least, of a financial character and interpreting the result thereof. Features characterize the tertiary institution that makes it quite distinct from many other areas. Although, accounting principles remain the same in application, accounting systems are normally designed to suite the nature and need of information of the organization. This project work therefore sets to find out and document the system applicable in the tertiary institution of higher learning? Are laid down procedures followed? Are required information obtained when needed? How are contracts accounted for? What principles are laid down for cash handling? These and many others shall be answered as the work progresses. Generally, the project results shall be an aid to the public who are conscious of accounting system not only in the college of education but also in other establishment.

This study investigates the impact of board characteristics- board size, board gender diversity, board independence, and board compensation- on firm financial performance among non-financial and non-oil and gas firms listed on the Nigerian Exchange Group (NGX). Using panel data from 78 firms over the period 2020 to 2024, the study employs descriptive statistics, correlation analysis, and panel regression techniques to analyze these relationships. The findings reveal that board gender diversity positively and significantly influences firm financial performance, while board size negatively affects performance. Net profit showed inconsistent effects, and board independence and compensation were not statistically significant predictors. The study recommends promoting gender diversity and optimizing board size to enhance firm performance. These results contribute to understanding corporate governance’s role in improving financial outcomes in the Nigerian business environment and provide guidance for regulators, firms, and stakeholders aiming to strengthen board effectiveness

This study examined the impact of corporate governance and tax compliance in Nigeria. The research was motivated by persistent low levels of tax compliance within Nigeria attributed to weak governance structures, poor record-keeping, and limited regulatory enforcement. The study adopted a survey research design, using structured questionnaires administered to 100 management and accounting staff of selected registered firms. Data were analyzed using descriptive statistics and the Chi-square (χ²) test with the aid of the Statistical Package for Social Sciences (SPSS). Findings revealed that a strong legal framework, effective board oversight, transparency, accountability, and sound record keeping systems significantly enhance tax compliance among firms. Results further indicated that weak internal control systems, family ownership structures, and inadequate enforcement of governance codes contribute to persistent non-compliance. The study confirmed that corporate governance practices positively influence firms’ accuracy in tax returns, timeliness of remittances, and relationship with regulatory authorities such as the Federal Inland Revenue Service (FIRS). The study concluded that sound corporate governance is a critical determinant of tax compliance in the Nigerian. It recommended that firms strengthen their governance structures through competent boards and effective audit committees, while regulators such as FIRS, SEC, and FRCN should intensify enforcement of governance and tax laws. Enhanced transparency, professional management, and strict penalties for default will foster accountability and improve government revenue generation in the sector

This research study aims to investigate the relationship between corporate governance and effective tax planning in FMCG in Nigeria. The research study adopted, collates data through secondary source which is the use of 5-year financial reports summary of selected Fast Moving Consumer Goods firms listed in Nigeria Stock Exchange Market. The study also discussed literatures reviewed by researchers on the concept of effective tax planning, strategies of effective tax planning, concept of corporate governance, concept of corporate governance practices and structure of corporate governance. The study propounded theories that support the study on agency theory, Tables, frequencies and percentages are used to analyse and present data. The study found out that there is no significant relationship between director’s holding and tax planning, board independence have a positive relationship with tax planning, audit committee financial expertise of the firm do not affect tax planning and firm performance have a positive and an insignificant relationship with tax planning. The study recommends that corporate tax behavior should be regulated by the government through the tax rules and corporate governance rules. Relevant tax authorities in Nigeria should always investigate the intention of tax payers before considering whether tax liability will be reduced below normal. As a result of this intention or anticipation of reducing tax burden, the use of independent board members will have an influence on how the corporation performs