FINANCIAL

This study examines the effect of firm-specific attributes on the financial reporting quality of banks in Nigeria, focusing on firm size, profitability, board independence, audit committee effectiveness, and leverage. Anchored on Agency Theory, Signaling Theory, and Stakeholder Theory, the study explores how internal characteristics influence managerial incentives, stakeholder communication, and governance mechanisms to ensure transparent and reliable financial reporting. Using panel data from 12 Nigerian deposit money banks over the period 2018 to 2023, the study employed the Fixed Effect Method for estimation alongside Hausman tests, residual cointegration tests, and cross- section dependence tests to analyze the relationships between variables. The findings indicate that firm size and leverage negatively affect financial reporting quality, while profitability, board independence, audit committee effectiveness, and ownership positively influence reporting quality. Hypothesis testing revealed that firm size and leverage significantly impact reporting quality, whereas profitability, board independence, and audit committee effectiveness demonstrate strong positive relationships with high- quality disclosures. These results align with previous empirical studies and reinforce the importance of governance mechanisms and firm characteristics in promoting credible financial reporting. The study recommends strengthening internal governance structures, optimizing board and committee composition, and enhancing managerial accountability to improve financial reporting quality in Nigerian banks. Keywords: financial reporting quality, firm-specific attributes, board independence, audit committee effectiveness, leverage, firm size, profitability, Nigerian banks, Fixed Effect Method

This study examined Religiosity and Tax compliance in Nigeria, focusing on Taxpayers in Benin city, including employees and self-employed individuals from Christian, Islamic and Traditional religious backgrounds. The research explored the extent to which religious beliefs, values, and moral teachings influence individuals' willingness to comply with tax obligations. Using a questionnaire based survey, data were collected from respondents, and statistical analysis were conducted to assess the relationship between religiosity and tax compliance behavior. The findings of this study highlight the role of religious teachings, ethical convictions, and spiritual beliefs in shaping taxpayer's attitudes towards compliance. Additionally, the study evaluates whether religiosity serves as a motivating factor for voluntary tax compliance or if it is overshadowed by other determinant trust, enforcement mechanisms, and Socio-economic factors. The study also integrates perspectives from both the Bible and the Qur'an to provide a theological understanding of taxation and compliance. The results contribute to policy discussions on Tax administration by offering insights into how religious values can be leveraged to enhance voluntary tax compliance. The study recommendations that tax authorities consider faith-based approaches in tax education and public awareness campaigns to improve compliance rates.

This study investigates the relationship between corporate board diversity and the financial performance of quoted oil and gas companies in Nigeria. Conducted within the context of governance reforms and performance challenges in the sector, the research examines how national, ethnic, age, and gender diversity influence Earnings Per Share (EPS), which was adopted as the measure of financial performance. An ex-post facto research design was employed, using panel data extracted from the annual reports of twelve oil and gas companies listed on the Nigerian Exchange Group between 2014 and 2023. Descriptive statistics, correlation analysis, and Ordinary Least Squares (OLS) regression were applied to evaluate the hypothesized relationships. The findings reveal that ethnic and age diversity exert significant positive effects on EPS, while national and gender diversity show statistically insignificant influences. The results indicate that board heterogeneity in certain dimensions enhances shareholder value, though some forms of diversity remain underutilized in Nigeria’s corporate governance framework. The study concludes that meaningful representation across diversity dimensions can strengthen decision- making and improve financial outcomes, especially in a highly regulated and capital-intensive industry. The study recommends that regulators and policymakers enforce inclusive governance policies that encourage balanced board representation, while companies should adopt strategic diversity practices that integrate ethnicity, age, gender, and nationality to enhance performance and competitiveness.

This study examined the impact of audit committee characteristics on financial reporting quality in Nigerian telecommunication companies. The research adopted an ex-post facto design and relied on secondary data obtained from the published annual reports of four major telecommunications firms MTN, Airtel, Glo, and 9mobile for the period 2015 to 2024. Financial reporting quality was measured by the timeliness of financial statements, while audit committee independence, size, meeting frequency, and financial expertise served as the explanatory variables. The data were analyzed using descriptive statistics, correlation analysis, and multiple regression techniques with the aid of Stata 13. The diagnostic tests confirmed the absence of multicollinearity, heteroskedasticity, and autocorrelation, ensuring the reliability of the model. The regression results revealed that audit committee independence, size, meeting frequency, and expertise did not have a statistically significant effect on financial reporting quality in the sampled firms. The overall model also lacked explanatory power, suggesting that audit committee characteristics, as currently structured in Nigerian telecommunications companies, may not be strong determinants of reporting timeliness. The findings indicate that compliance with governance requirements does not automatically translate into higher reporting quality unless audit committees actively perform their oversight roles. The study concludes that while audit committees are vital for corporate governance, their effectiveness depends more on active engagement, independence in practice, and professional competence than on formal attributes such as size or meeting frequency. It recommends that regulatory authorities and company boards focus on strengthening the functional capacity of audit committees by providing continuous training, enforcing genuine independence, and prioritizing quality over quantity in audit committee activities.

This study was concerned with the adoption of International Financial Reporting Standards (IFRSs) in Nigeria and specific stakeholders in the Nigerian financial landscape. This study adopted a cross-sectional survey design. The population consisted of 500 investors and accountants in Benin City and a sample size of 225 investors in publicly listed companies and accountants which was selected using convenience sampling techniques enabling easy gathering of primary data with minimal resources. The hypotheses were tested using analysis of variance (ANOVA). The findings from the study shows that the adoption of International Financial Reporting Standards (IFRSs) has a significant impact on the quality of investment decision-making in the Nigerian financial landscape, that there is need for improvement in the roles played by regulatory bodies in the implementation of IFRSs in Nigerian financial landscape, and that the accounting profession and academia play a crucial role in developing competent accountants for the proper implementation of IFRSs in Nigerian financial landscape. Based on the findings, recommendations were made, such as formulation and enforcement of comprehensive regulations for IFRSs implementation by government regulatory agencies, the accounting profession should be primarily involved in development of accountants knowledgeable in IFRSs, and ensuring compliance with the IFRSs by the preparers of financial statements. This can enable Nigeria to leverage the full benefits of adopting and implementing international Financial Reporting Standards in Nigeria. The findings of this study also confirmed some previous studies.

This study investigates the impact of financial innovation on the Nigerian banking industry, with a focus on its effects on customer satisfaction, retention, and patronage, as well as the challenges customers face when using innovative banking services. A total of 200 questionnaires were distributed among bank customers in Benin City, Edo State, of which 100 were completed and analyzed using SPSS version 20.0, employing both descriptive statistics and regression tests. The findings indicate that financial innovation significantly enhances customer satisfaction (B = 0.666, t = 16.821, p = .000) and influences customer patronage (B = 0.152, t = 2.815, p = .005), but has an insignificant impact on customer retention (B = 0.085, t = 1.223, p = .222). Moreover, the study reveals notable challenges including technical issues, security concerns, delays in transaction processing, and slow complaint resolution. Based on these results, it is recommended that banks continue to invest in user-friendly digital platforms, integrate personalized customer relationship management strategies to improve retention, employ targeted marketing to enhance patronage, and upgrade their IT infrastructure to address operational challenges.

This study examines the impact of internal control systems on the financial performance of manufacturing firms in Nigeria. With the increasing complexity of business operations and the prevalence of financial irregularities, internal control mechanisms have become essential tools for enhancing accountability, operational efficiency, and corporate governance. The research adopted a survey design using primary data collected through structured questionnaires administered to selected manufacturing firms. Data were analyzed using descriptive and inferential statistics to determine the relationship between internal control componentssuch as control environment, risk assessment, control activities, monitoring, and information & communicationand financial performance indicators. Findings revealed that there is a significant positive relationship between effective internal control systems and the financial performance of manufacturing firms. Firms with well-structured control systems tend to exhibit better financial outcomes, reduced fraud risks, and improved resource utilization. The study concludes that robust internal control systems play a crucial role in enhancing financial performance. It recommends that manufacturing firms invest in strengthening their internal control frameworks to ensure sustainable financial growth and compliance with regulatory standards

This study investigates the impact of financial efficiency on Nigeria’s economic performance, focusing on economic growth, price instability (inflation), and trade balance. The research is anchored on the theories of financial intermediation and endogenous growth, which emphasize the role of efficient financial systems and capital accumulation in driving economic development. Employing the Autoregressive Distributed Lag (ARDL) approach to accommodate the mixed order of integration of the variables, the study estimates three models to assess both short-run and long-run effects. The findings reveal that financial efficiency does not have a statistically significant impact on economic growth or inflation control, contrary to many previous studies. However, financial efficiency demonstrates a significant short-run effect on stabilizing the trade balance.These results suggest that structural and institutional weaknesses, along with human capital challenges, limit the ability of financial efficiency to foster sustained economic improvements in Nigeria. The study concludes that financial sector reforms must be integrated with broader institutional and macroeconomic policies to enhance economic performance and sustainable development.

This study examined the Effect of Accounting Practices on the Financial Performance of Small and Medium Scale Enterprises (SMEs) in Nigeria. The research focused on how key accounting concepts – internal controls, financial reporting, budgeting practices, and role of support – influence the sustainability, profitability, and the overall performance of SMEs. A structured questionnaire was administered to SME owners and operators, across various sectors. Data collected was analyzed to determine the relationship between accounting practices and financial performance. The findings revealed that strong internal control systems significantly improve operational efficiency, reduce fraud, and also ensure compliance with financial procedures. Financial reporting, when timely and accurate, enhances transparency, helps in the process of decision making, and builds investor confidence in SMEs. Furthermore, Budgeting was found to play a vital role in planning, and evaluation of performance, aiding SMEs manage limited resources more effectively and efficiently. Additionally, the study highlighted the critical role of government support in shaping SME performance through tax incentives or holidays, access to credit, and mandatory adoption of basic financial reporting standards. It also concluded that SMEs with sound accounting practices are better positioned to achieve financial stability, attract invetors, and also contribute meaningfully to the country’s economic growth.

This study investigates the relationship between financial inclusion and economic growth in Nigeria for the period 2000 to 2024. Financial inclusion was measured using the number of bank branches per 100,000 adults, automated teller machines (ATMs) per 100,000 adults, borrowers from commercial banks per 1,000 adults, and current account holders per 1,000 adults, while economic growth was proxied by the real gross domestic product (RGDP) growth rate. The study relied on secondary data obtained from credible sources, including the Central Bank of Nigeria, Nigeria Inter-Bank Settlement System, and World Bank Development Indicators. Data were analyzed using descriptive statistics, correlation analysis, panel unit root tests, Johansen Fisher Panel Cointegration Test, and Panel Fully Modified Least Squares (FMOLS) regression. The results indicate that the number of bank branches and bank borrowers have a significant positive impact on economic growth, whereas ATMs and current account holders exhibit a significant negative effect. These findings suggest that while expanding physical banking infrastructure and credit access support economic growth, digital banking access and current account proliferation may not automatically translate into growth unless accompanied by targeted financial inclusion strategies. The study concludes that effective policy interventions are required to optimize the benefits of financial inclusion and recommends the strategic deployment of banking resources, particularly to underserved populations, to enhance Nigeria’s economic performance.