Kashere Journal of Accounting and Finance

CORPORATE GOVERNANCE MECHANISMS AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA: EVIDENCE FROM BOARD EVALUATION, WHISTLEBLOWING, AND ESG DISCLOSURE

2026-06-15T02:01:21+00:00

This study examines the effect of selected corporate governance practices on the financial performance of listed deposit money banks in Nigeria. Corporate governance has become increasingly important in emerging economies due to its role in enhancing transparency, accountability, and overall organizational efficiency. Despite various regulatory reforms, concerns remain regarding the extent to which governance practices influence bank performance in Nigeria. The study specifically investigates board evaluation disclosure, whistleblowing policy disclosure, and environmental, social, and governance (ESG) disclosure as key governance mechanisms. Financial performance is measured using Return on Assets (ROA). The study adopts an ex post facto research design and utilizes secondary data obtained from the audited annual reports of twelve listed deposit money banks in
Nigeria over the period 2020 to 2024. Panel data regression techniques, including descriptive statistics, correlation analysis, diagnostic tests, and the Hausman specification test, were employed to analyze the data. The findings reveal that whistleblowing policy disclosure and ESG disclosure have positive and statistically significant effects on financial performance, indicating that stronger transparency and sustainability practices enhance profitability. However, board evaluation disclosure shows a positive but statistically insignificant effect on ROA. The study recommends stronger implementation of whistleblowing frameworks and enhanced ESG reporting standards to further improve bank performance and stakeholder confidence.

CORPORATE GOVERNANCE PRACTICES AND FINANCIAL PERFORMANCE OF LISTED FINANCIAL FIRMS IN NIGERIA

2026-06-15T02:39:31+00:00

Despite successive regulatory reforms and the introduction of governance codes by the regulators of the Nigerian financial industry, the financial sector is still experiencing notable governance-related challenges. Thus, this study examines how corporate governance practices in terms of transparency and disclosure (TD), shareholders’ rights and participation (SRP), audit committee effectiveness (ACE), and executive compensation (EC) affect the financial performance of listed financial companies in Nigeria. Ex-post facto research design was employed and secondary data covering thirty-nine listed financial firms between 2020 and 2024 were analysed using descriptive statistics, correlation analysis, unit root test, multicollinearity diagnostics, and panel regression analysis. The findings revealed that transparency and disclosure had a negative but statistically significant effect on financial performance (β = - 0.000118, p < 0.05); shareholders’ rights and participation showed a positive but insignificant relationship with performance (β = 0.000968, p > 0.05); audit committee effectiveness had a positive and significant effect (β = 0.017100, p < 0.05); executive compensation exerted a negative but insignificant influence (β = -0.074234, p > 0.05). The study concludes that effective governance practices, particularly audit committee oversight and balanced disclosure, are essential for improved financial performance of listed financial firms in Nigeria. It is recommended that financial firms should promote timely and meaningful reporting that enhances investor confidence and prioritize the independence as well as the oversight capacity of audit committees to improve overall firm performance.

LEGISLATIVE OVERSIGHT OF PUBLIC FINANCES AND BUDGET PERFORMANCE: EVEDENCE FROM ADAMAWA STATE, NIGERIA

2026-06-15T03:00:43+00:00

This study examines the legislative oversight of public finances and budget performance:
evidence from Adamawa state, Nigeria. Descriptive survey design was employed to gather
data through the administration of a close-ended structured questionnaire and secondary
data was also obtained to establish the budget performance trend. Data obtain were
analyzed using both descriptive and inferential statistics, simple percentage were used to
analyzed the descriptive statistics and linear regression and correlation analysis was
employed to established the relationship between the legislative oversight of public finances
and budget performance. The independent variables investigated were appropriation
legislative oversight of public finances, public accounts committee legislative oversight of
public finances, and investigative legislative oversight of public finances. The findings
revealed a non- significant negative relationship between appropriation oversight of public
finances and budget performance, while both investigative oversight of public finances and
public accounts committee oversight of public finances showed a positive and significant
association with budget performance. The study highlights the importance of effective
legislative oversight of public finances in enhancing budget performance and provides
insights for policymakers to strengthen financial oversight of public finances mechanisms in
Adamawa State. The study therefore recommends that, the legislature should strengthen its
oversight of public finances to ensure effective budget performance; engage in capacity
building programs for legislators to enhance their oversight of public finances, and lastly,
the government should prioritize transparency and accountability in budget execution to
ensure effective budget performance.

EFFECT OF ARTIFICIAL INTELLIGENCE ON QUALITY OF FINANCIAL REPORTING OF SELECTED MINISTRIES IN EKITI STATE, NIGERIA

2026-06-15T03:13:58+00:00

This study examined the effect of Artificial Intelligence (AI) on the quality of financial
reporting in selected ministries in Ekiti State, Nigeria. The study adopted a descriptive
survey design, and data were collected from 80 accounting and finance staff through
structured questionnaires. The findings showed that the level of AI adoption in the ministries
is moderate, as more attention is given to staff training and infrastructure development than
to the full use of AI in daily accounting activities. The study also revealed that AI has
improved the accuracy, timeliness, transparency, and reliability of financial reports by
reducing errors, improving auditing processes, and making report preparation faster and
clearer. However, the effective use of AI is limited by challenges such as inadequate
infrastructure, insufficient funding, limited technical skills, resistance to change, and data
security concerns. The study concluded that AI positively influences financial reporting
quality in the selected ministries. It therefore recommended improved investment in AI
infrastructure, continuous staff training, adequate funding, stronger data security policies,
and gradual integration of AI into routine accounting operations to improve public sector
financial reporting.

TAX INCENTIVE STRATEGIES AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

2026-06-15T03:27:49+00:00

This study examined the effect of tax incentives on the financial performance of listed deposit
money banks in Nigeria, with a focus on effective tax rate reduction and investment tax
allowance utilization as the key proxies. The dependent variable, financial performance, was
measured using return on equity. The study adopted a quantitative research design,
employing secondary data from the annual financial statements of 13 listed banks over the
period 2015–2024. Jaiz Bank Plc was filtered due unavailability of information for 2015 and
2016. Stata17 served as the tool of data analysis. Panel data regression analysis using the
Panel- Corrected Standard Errors (PCSE) technique was conducted to estimate the impact
of the independent variables on ROE, with diagnostic tests for multicollinearity and
heteroskedasticity ensuring the robustness of the results. Regression results indicated that
both effective tax rate reduction (β = 0.421, p = 0.000) and investment tax allowance
utilization (β = 0.318, p = 0.010) positively and significantly influenced return on equity,
confirming the a priori expectation that tax incentives enhance shareholder returns. The
findings are supported by resource-based view theory, which highlighted the role of tax
incentives as strategic resources that improve managerial efficiency and competitive
advantage. The study concludes that effective utilization of tax incentives is critical for
enhancing bank profitability. Accordingly, it recommends that bank management actively
leverage available tax incentives, while regulators and policy makers provide clear
guidelines and expand investment-linked tax schemes to promote financial sector growth.

FORENSIC AUDITING AND FINANCIAL FRAUD PREVENTION AMONG LISTED FINANCIAL FIRMS IN NIGERIA

2026-06-15T04:22:07+00:00

Financial fraud has remained a persistent challenge within financial institutions globally,
particularly in emerging economies where weak control systems, technological
vulnerabilities, and inadequate regulatory enforcement continue to expose firms to fraudulent
activities. Thus, this study examined the effect of forensic auditing on financial fraud
prevention among listed financial firms in Nigeria. The study adopted a quantitative cross
sectional survey research design using primary data collected through structured
questionnaires administered to 302 respondents drawn from listed financial firms on the
Nigerian Exchange Group. Data were analysed using Partial Least Squares Structural
Equation Modelling (PLS-SEM). The findings revealed that forensic auditing practices
significantly improve financial fraud prevention (β = 0.221, p = 0.002), while forensic audit
expertise and professional competence also exert a positive and significant effect (β = 0.184,
p = 0.007). Furthermore, forensic audit tools and techniques (β = 0.256, p = 0.001), internal
control systems (β = 0.278, p = 0.000), and regulatory compliance (β = 0.205, p = 0.002) all
significantly enhance financial fraud prevention among listed financial firms in Nigeria. The
study concludes that effective forensic auditing mechanisms are critical in reducing fraud
opportunities and strengthening transparency and accountability within financial
institutions. The study recommends that the management of financial firms should strengthen
forensic auditing practices, invest in professional training and digital forensic technologies,
improve internal control systems, and ensure strict regulatory compliance to enhance fraud
prevention effectiveness.

IMPACT OF CORPORATE RISK ON FINANCIAL PERFORMANCE OF LISTED FOOD AND BEVERAGE COMPANIES IN NIGERIA

2026-06-15T04:30:53+00:00

This study investigated corporate risk and financial performance of food and beverages
companies in Nigeria. It focuses on how risks such as liquidity, credit and operational risks
affect return on assets. The food and beverages sector plays a significant role in national
development through its contribution to GDP, job creation and provision of essential
households’ consumables. Given the dynamic and uncertain operating environment, effective
risk management is crucial for sustaining performance in the sector. Despite its importance,
there is limited empirical evidence in Nigeria that jointly considers the effects of credit,
liquidity, and operational risks on ROA within this sector; hence, this study focuses
specifically on listed food and beverages companies. The study used an ex-post facto
research design, and the period of study is 5 years ranging from 2020-2024. All 14 listed
companies in the sector were covered by this study. Data were also obtained from annual
financial statements of the sampled companies and analysis were done using regression
technique with the aid of Stata 13 version. The results revealed that credit risk has a negative
and statistically significant effect on ROA, suggesting that higher credit exposure reduces
profitability. Liquidity risk was found to have a positive but statistically insignificant effect
on ROA, suggesting a weak influence on performance. In contrast, operational risk exhibited
a positive and significant effect on ROA, implying that effective management of operational
activities can promote financial performance. Finally, corporate risk remains a critical
determinant of performance in the Nigerian food and beverages sector. The study therefore
recommends that companies adopt more stringent credit evaluation procedures and
continuously monitor their credit portfolios to minimize default risk. Additionally, companies
should ensure adequate liquidity levels to ensure they can meet short-term obligations
without disrupting operations.

CHIEF EXECUTIVE OFFICER’S ATTRIBUTES AND FIRM VALUE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA - MODERATING ROLE OF DIVIDEND PAYOUT RATIO

2026-06-15T04:48:53+00:00

The inconsistent findings on how CEO financial expertise and gender influence firm value in
Nigerian banks have created uncertainty regarding the effectiveness of leadership attributes
in driving market performance. Therefore, this study investigates the effect of CEO financial
expertise and gender on the value of listed Deposit Money Banks (DMBs) in Nigeria, with
dividend payout ratio serving as a moderating variable. Adopting a causal-comparative (ex
post facto) research design, the study examined a sample of 13 banks purposively selected
from a population of 14 listed DMBs as at 31st December 2024. Secondary data were
obtained from audited annual reports and accounts of the selected banks covering the period
2014–2024, which spans the 2016 and 2020 economic recessions in Nigeria. Panel least
squares regression analysis was employed using Stata 17 due to its effectiveness in handling
variability, collinearity, and dynamic individual effects. The findings reveal that CEO gender
has a positive but statistically insignificant direct effect on bank value, implying that gender
diversity contributes only marginally to firm value in the Nigerian banking sector. Similarly,
CEO financial expertise shows a negative and insignificant effect, indicating that technical
financial competence alone does not automatically enhance firm value. However, the study
finds that the influence of these CEO attributes becomes more meaningful when aligned with
dividend payout decisions. The study concludes that dividend policy plays a critical
moderating role in translating leadership attributes into value creation. It therefore
recommends that boards of Nigerian banks strategically align CEO expertise with
investment and dividend decisions to optimize firm value. Regulatory authorities, including
the Central Bank of Nigeria and the Nigerian Exchange Group (NGX), should continue to
promote gender inclusion in executive leadership, while banks should adopt balanced
dividend policies that sustain investor confidence and long-term growth.

DIGITAL FINANCIAL REFORMS AND CORRUPTION CONTROL IN NIGERIA

2026-06-15T05:06:23+00:00

This study investigated the effects of the Integrated Personnel and Payroll Information
System (IPPIS), Government Integrated Financial Management Information System
(GIFMIS), and Public Procurement Reform (PPR) on corruption control (CC). The study
adopted a survey research design, with primary data collected through structured
questionnaires administered to personnel from selected federal ministries, departments,
agencies, anti-corruption institutions, and civil society organizations involved in public
financial management and accountability processes. A sample size of 326 respondents was
determined from a population of 1,772 using the Taro Yamane formula and selected through
stratified sampling technique. Data were analyzed using PLS-SEM involving measurement
and structural model assessments. The findings revealed that IPPIS exerted a weak negative
and statistically insignificant effect on CC, while PPR also recorded a weak positive and
insignificant relationship with CC. Conversely, GIFMIS exhibited a positive and statistically
significant relationship with CC challenges, suggesting implementation weaknesses and
institutional inefficiencies within the reform process. The study concluded that although
digital financial reforms theoretically improve transparency and accountability mechanisms,
their effectiveness in controlling corruption within Nigeria’s Federal Public Sector remains
is not established. The study recommended strict institutional monitoring, improved inter
agency integration, enhanced staff capacity building, and firm enforcement of public
financial management regulations to strengthen CC outcomes in Nigeria.

CORPORATE BOARD ATTRIBUTES AND ENVIRONMENTAL REPORTING QUALITY OF LISTED OIL AND GAS COMPANIES IN NIGERIA

2026-06-15T05:25:22+00:00

This study investigates the effect of board attributes on environmental reporting quality in listed
Nigerian oil and gas firms over the period of 2015–2024. The study used secondary data extracted
from the audited annual reports and accounts of seven sampled companies from total population of
eleven listed oil and gas firms on the Nigeria exchange group. The study employed explanatory
research design and after running the OLS regression, a robustness test was conducted to test the
validity of statistical inferences, a multiple regression was also employed. The study Uses Global
Reporting Initiative (GRI) Standard 13 to measure environmental reporting quality. Board attribute is
proxied by board independence, board size, board gender diversity and board meetings. The findings
reveal that board independence, board size, and board gender diversity have statistically significant
positive effects on environmental reporting quality. Conversely, board meeting frequency shows a
positive but statistically insignificant relationship. These results demonstrate that board composition
and diversity are more consequential for environmental transparency than the sheer number of board
meetings. The study recommended that the management of the companies should strengthen board
independence, promote gender diversity through a “comply-or-explain” framework, and shifting
regulatory focus from meeting quantity to agenda quality.

EFFECT OF FIRM SPECIFIC ATTRIBUTES ON FINANCIAL REPORTING QUALITY OF LISTED OIL AND GAS COMPANIES IN NIGERIA

2026-06-15T05:42:32+00:00

Financial Reporting Quality is a critical concern in Nigeria's economically sensitive oil and
gas sector. This study investigates the effect of firm specific attributes on the financial
reporting quality (FRQ) of listed oil and gas companies in Nigeria over the period 2015
2023. The study employed a quantitative research design using secondary panel data and,
following diagnostic tests, utilized the Pooled Ordinary Least Squares (OLS) estimation
technique. The population of the study were eight listed oil and gas companies with sample
size of seven companies using purposive sampling techniques. The results reveal that Firm
Size, firm financial performance all exerts a significant and positive effect on financial
reporting quality. This suggests that larger and more profitable firms, as well as those that
effectively utilize debt financing, exhibit superior reporting transparency and reliability.
Conversely, Firm Age was found to have negative but statistically insignificant effect. The
findings emphasize that financial strength and scale are primary drivers of high-quality
financial reporting in this sector, validating the importance of corporate financial and
structural characteristics in shaping disclosure outcomes. The study recommends that oil
and gas firms should focus on operational efficiency and financial management to sustain
high profitability, continue to pursue strategic growth to capture the benefits of Firm Size,
utilization of Leverage strategic. These ensure that practices remain dynamic and adapt
quickly to evolving regulatory requirements and industry best practices by preventing age
from becoming a liability to FRQ.

BOARD STRUCTURE AND FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA

2026-06-15T06:18:30+00:00

Board structure represents one of the core issues in corporate governance. This study investigates the
influence of board structure on the financial performance of listed consumer goods companies in
Nigeria. The study utilised an ex-post factor research design, examining a population of 20 consumer
goods companies. The sample size consisted of 10 consumer goods companies listed on the Nigerian
Exchange Group (NGX), spanning from 2013 to 2022. The data for this study were obtained from the
published annual accounts and reports of the sampled firms. A random effect regression model and a
panel-corrected standard error regression were utilised for data analysis. The study showed that
expertise, and ownership of the board have an insignificant effect on return on equity. The study also
discovered that board expertise, and board ownership were found to have a significant negative
impact on the operating profit of the firms included in this study. Hence, the study strongly
recommended that members of the boards of listed consumer goods companies in Nigeria prioritise
matters directly linked to their companies, as these have a significant impact on financial
performance.

ACCOUNTING INFORMATION SYSTEM QUALITY AND FINANCIAL MANAGEMENT PRACTICES IN FEDERAL TERTIARY INSTITUTIONS IN ADAMAWA STATE

2026-06-15T18:04:25+00:00

This study examines how the quality of Accounting Information Systems (AIS) affects financial
management in federal tertiary institutions in Adamawa State, Nigeria. It draws on the DeLone and
McLean Information Systems Success Model (2016), breaking AIS quality into four dimensions:
system quality, information quality, process quality, and service quality. The research used a
quantitative cross-sectional survey design. Primary data were generated from 145 purposively
selected staff members at federal universities, polytechnics, and colleges of education, all of whom
completed a structured questionnaire. The data were analysed using the Ordinary Least Squares
(OLS) regression. All four AIS quality dimensions had a statistically significant influence on financial
management. System quality had more significant effect followed by service, information, and process
quality. The study recommends that federal tertiary institutions invest significant funds in reliable,
user-friendly AIS infrastructure. Staff need proper training to get financial data entry right and
process automation is necessary in making financial reporting more consistent. Furthermore,
technical support needs to be responsive enough to actually solve problems when they come up. The
findings add to a growing body of literature on information systems and public-sector financial management, offering lessons particularly relevant to higher education institutions in developing
economies.