FUDMA Journal of Accounting and Finance Research [FUJAFR]
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Digital banking tools and savings performance
Full text linkPurpose: This study examines the impact of digital banking tools, specifically Point of Sale (POS) systems, Automated Teller Machines (ATMs), and mobile banking (MOB), on savings performance in Nigeria. The primary objective is to assess how the increasing adoption of these technologies influences savings mobilisation and overall financial inclusion within the Nigerian banking sector.
Methodology: A quantitative research design was adopted, employing secondary time series data sourced from the Central Bank of Nigeria (CBN) from 2009 to 2023. Econometric techniques, including the Phillips-Perron unit root test and the Autoregressive Distributed Lag (ARDL) bound testing approach to cointegration, were used for data analysis to investigate both the short-run and long-run relationships between digital banking variables and savings performance.
Results and Conclusion: The empirical findings indicate the existence of a long-run equilibrium relationship among the variables. Specifically, MOB and POS transactions exhibit a positive and statistically significant impact on savings performance. Conversely, ATMs display an insignificant relationship with savings performance. The study concludes that digital banking tools significantly enhance savings performance in Nigeria, particularly through MOB and POS platforms, which have helped bridge access gaps and simplified banking for the unbanked/underbanked populations. However, the potential of ATMs to stimulate savings remains underutilised.
Implication of findings: Policymakers and financial institutions should strengthen and expand digital banking infrastructure, particularly in rural/underserved areas, to promote inclusive access to financial services. Furthermore, stabilising the macroeconomic environment and improving digital literacy will help build public trust in electronic banking channels, thereby improving national savings performance
Perception of infrastructural development and tax compliance among small and medium scale enterprises in Lagos state: The mediating role of taxpayers’ satisfaction with revenue utilization
Full text linkPurpose: This study investigates how small and medium-sized enterprises (SMEs) in Lagos State, Nigeria, perceive infrastructural development and how these perceptions influence their tax compliance behaviour, using taxpayers’ satisfaction as a mediating variable.
Methodology: The study used both secondary and primary sources to collect relevant data. The study adopted a survey research design. A total of 42,072 small and medium enterprise owners in Lagos State were the population, out of which a sample size of 400 was drawn. Four hundred (400) copies of the questionnaire were administered, and 364 were returned, while only 342 copies were usable. The data collected were analyzed using descriptive and inferential statistics. Three hypotheses were formulated and tested using regression analysis; Process Macro on SPSS was used to test the fourth hypothesis, testing the mediating effects of taxpayers’ satisfaction on the relationship between infrastructure development and tax compliance.
Results and conclusion: Results show that infrastructural development significantly impacts taxpayers’ satisfaction with government spending and compliance with tax regulations. The study further revealed that taxpayers’ satisfaction plays a mediating role in the relationship between infrastructural development and tax compliance. Based on this finding, it is recommended that the Lagos State government should continue to enhance the provision and quality of infrastructure to improve taxpayers’ satisfaction and, in turn, foster greater compliance among residents.
Implication of findings: The findings imply that the level of infrastructural development influences the satisfaction derivable by SME from government spending, and by extension, the relationship between infrastructural development and tax compliance.
Integrated Reporting and Enterprise Value of Consumer Goods Companies Listed on Nigerian Exchange Group
Full text linkThis study investigates the effect of integrated reporting (IR) on enterprise value (EV), incorporating corporate governance (CG) as a moderating factor, using a balanced panel dataset of 20 firms listed on the Nigerian Exchange Group (NGX) spanning 2015 to 2024, with data extracted from firms’ annual reports. The Hausman specification test guided the selection of the fixed effects (FE) panel regression model for the study. The findings reveal that disclosures on performance (PER), governance (GOV), strategy and resource allocation (SRA), organizational overview and external environment (OEE), outlook (OUT), and risks and opportunities (RO) significantly increase EV. Conversely, business model (BM) and basis of preparation and presentation (BPP) disclosures show no significant influence, reflecting limited investor focus in Nigeria’s voluntary IR context. CG independently enhances EV and, importantly, moderates the IR–EV relationship: strong governance amplifies the positive valuation impact of integrated reporting. Implying that firms with superior governance quality experience greater market valuation benefits from IR, highlighting governance as a critical factor that reinforces investor confidence and maximizes the value relevance of integrated reporting. The study concludes that IR, especially through performance and governance reporting, has a strong influence on the amount of enterprise value, and corporate governance reinforces the confidence of the investors and acts as a validator of credibility. To realise the maximum benefits of enhancing enterprise value, it is recommended that firms focus on strong and stakeholder-oriented reporting in these vital areas that align with known international standards, including that of the IIRC (2021) framework
Board Diversity and Financial Instrument Risk Disclosure of Deposit Money Banks in Nigeria
Full text linkThe study examines the relationship between board diversity and financial instrument risk disclosure (FIRD) of listed deposit money banks in Nigeria. The study employed a descriptive and explanatory research design and the data were generated from annual reports and accounts of sampled firms. Descriptive statistics and regression analysis were used in the data analysis. The study finds that the presence of female directors on boards does not have a significant impact on Financial Institution Risk Disclosure (FIRD) in the banking sector. This may be attributed to specific factors inherent to the sector, as female directors may lack the necessary insights to effectively influence risk disclosure in this context. Additionally, the study concludes that the presence of foreign directors does not significantly affect the FIRD of deposit money banks in Nigeria. This lack of impact may be due to their unfamiliarity with the regional and ethnic dynamics of the Nigerian banking sector. The study recommends incorporating a broader range of board attributes to better assess their influence on FIRD within deposit money banks. Furthermore, it suggests the introduction of a moderating variable that could significantly interact with and affect this relationship
Gender Diversity, Capital Structure and Financial Performance: A study of Banks in the UK
Full text linkThis study aims to explore the effect of gender diversity on the capital structure and financial performance of listed banks in the UK, covering a 10-year period from 2011 to 2020 and using a sample of 11 banks. To test the effect of gender diversity on capital structure and financial performance, the ordinary least square regression was employed. Debt-to-equity ratio was used as a measure of capital structure, while financial performance was measured using Tobin’s q. Board gender diversity was found to have a negative and significant effect on UK banks’ capital structure. On the other hand, board gender diversity had a positive and significant effect on the financial performance of UK banks, all at a 10% level of significance. It is therefore concluded that gender diversity will be significant in driving the economy, especially following the current economic strain caused by the pandemic. It is recommended that more strategies to encourage more women on the board should be encouraged
IAS 37 and Financial Reporting Quality of Listed Oil and Gas Companies in Nigeria
Full text linkFinancial reporting quality (FRQ) in Nigeria’s oil and gas sector has been undermined by weak disclosures, opaque recognition of provisions, and limited regulatory enforcement. This study examines the effect of IAS 37: Provisions, Contingent Liabilities, and Contingent Assets on FRQ among listed firms, using audited annual reports from 2020 to 2023. A mixed-method approach combining content analysis and panel regression was applied. The results show that both recognition compliance and disclosure quality significantly enhance FRQ, with disclosure quality exerting the stronger influence. Unlike previous Nigerian studies, this research develops a disclosure-based index of FRQ and integrates it with firm-level factors such as audit quality and leverage. The findings highlight the importance of robust enforcement, clearer disclosure practices, and high-quality audits in strengthening transparency and investor confidence in the extractive sector
Firm Specific Attributes and Voluntary Disclosure information: Evidence from listed manufacturing companies in Nigeria
Full text linkAbstract
The study examined the effect of firm specific attributes and voluntary disclosures of listed manufacturing companies in Nigeria for period of 10 years (2014 to 2023). The study adopted the longitudinal research design, secondary data was sourced from the audited annual report of sampled 46 manufacturing companies. The fixed effect estimation technique revealed that firm size has positive effect (0.082) which is statistically significant (p=0.017) at 1% level; firm leverage has positive effect (5.05) and it is statistically insignificant (p=0.988) at 5%; firm profit has a negative effect (-0.000) and it is statistically insignificant (p=0.177) at 5%; and board independence has negative effect (0.002) and it is statistically significant (p=0.001) at 5%. The study concluded that firm size is one of the factors that increases voluntary disclosure information. The study recommended that the manufacturing should work towards increase in the size of their firm in order to increase the level of their voluntary disclosure information.
 
Influence of stakeholder ecosystem on corporate environmental disclosure among non-financial firms in Lagos State, Nigeria
Full text linkPurpose: In Nigeria, especially non-financial firms in Lagos State are involved in the inadequacy of waste management infrastructure, resulting in litter pollution and health issues for the immediate community. Thus, this study therefore investigated the influence of the stakeholder ecosystem through operational, primary, environmental advocacy and strategic stakeholders on corporate environmental disclosure among non-financial firms in Lagos State, Nigeria.
Methodology: this study adopts survey research design, which centers on collecting data from sample size of 294 representing the entire non-financial firms’ Lagos state, Nigeria.
Results and conclusion: the findings of the result conclude that operational stakeholders have a positive but not significant relationship with corporate environmental disclosures among non-financial firms in Lagos State, Nigeria. However, primary stakeholders, environmental advocacy stakeholders, and strategy stakeholders all have negative but insignificant relationships with corporate environmental disclosures among non-financial firms in Lagos State, Nigeria.
Implication of findings: therefore, this study recommends that operational health and environmental protection should be integrated into the daily operations of non-financial firms in Lagos State, Nigeria. However, in Lagos State, Nigeria, non-financial firms should address the interest of shareholders in environmental reporting concerning long-term value and shareholder value through environmental sustainability. Additionally, the study also recommends that non-financial firms in Lagos State, Nigeria, should put their immediate needs first by offering corporate social responsibility and environmental cooperation. Lastly, managing directors of non-financial companies in Lagos State, Nigeria, ought to offer substantial financial support through environmental commitment in management relations with environmental waste management
The Effect audit pricing on earnings management among non-financial listed firms in Nigeria.
Full text linkThis study investigates the effect of audit pricing, measured through normal and abnormal audit fees, on real earnings management (REM) in Nigerian non-financial listed firms. Using panel data from 50 firms listed on the Nigerian Exchange Group between 2013 and 2022, and employing Roychowdhury’s (2006) real earnings management model, the study finds a statistically significant negative relationship between normal audit fees and REM, β = -0.046, p = 0.0113. This suggests that higher audit fees, reflecting better audit quality and effort, deter managerial manipulation of earnings. Audit tenure also negatively correlates with REM, indicating that longer auditor-client relationships may enhance audit effectiveness. However, firm age, size, and loss indicators show no significant impact. The findings support agency theory’s premise that adequate audit remuneration mitigates agency conflicts by constraining managerial opportunism. Despite some contrasting literature, results emphasize the strategic importance of fair audit pricing to uphold financial reporting integrity. The study recommends that regulators enforce guidelines ensuring fair audit pricing linked to service quality, companies invest in high-quality audits as part of good governance, and auditors promote transparency in fee attribution to reinforce audit credibility. This research contributes empirical evidence to the nuanced relationship between audit fees and earnings management in emerging markets like Nigeria, highlighting audit pricing as a critical mechanism for enhancing audit quality and financial reporting transparency
An Assessment of Taxation Strategies and Policy Interventions for Nigeria\u27s Informal Economy
Full text linkThis study examined the challenges and opportunities of taxing Nigeria’s informal sector, which contributes significantly to employment and GDP but remains largely untapped for tax revenue. Through qualitative interviews with 40 tax experts across Lagos, Abuja, and Port Harcourt, the research identified structural, administrative, and socio-cultural barriers to effective taxation, including weak enforcement, low tax morale, and poor record-keeping. The study highlighted the potential of technology-driven solutions, simplified tax regimes, and public awareness campaigns to improve compliance. It also explored the role of policies such as the proposed Nigerian tax bill, the integration of BVN (Bank Verification Number) and NIN (National Identification Number) and removing VAT (Value Added Tax) on essential items in formalizing the sector. Drawing on the best international practices, the study emphasized the need for balanced approaches that support informal businesses while enhancing revenue generation. Key recommendations included leveraging digital tools, fostering trust through transparency, and linking tax compliance to access to public services. The findings underscored the importance of addressing systemic challenges to unlock the informal sector’s potential for Nigeria’s economic growth