AEFUNAI JOURNAL OF BEHAVIOURAL ACCOUNTING (JBA) is a publication of the Department of Accountancy, Faculty of Management Sciences, Alex Ekwueme Federal University Ndufu-Alike, Ebonyi State, Nigeria. The journal aims to be one of the leading accounting journals that publishes original blind review articles in the broad areas of accounting. It is a triannual publication that publishes three times a year (April, August and December). JOURNAL AIMS AND SCOPE AEFUNAI Journal of Behavioural Accounting is aimed at offering a forum for researchers, practitioners, regulators, behavioural scientists, and policymakers to share insights and knowledge resulting from explorations on the intersection of accounting and behavioural sciences. Its focus is on understanding and explaining how social, emotional, and psychological factors affect accounting practices, financial decision-making and organizational behaviour. The journal scope includes, not only, the following: Accounting and behavioural finance Organizational behaviour and accounting Psychological, social and emotional factors influence on financial decision-making Decision-making and investor behaviour Financial disclosure and reporting Ethics and corporate governance Environment, Social and Governance Environment accounting Psychological factors and auditor’s judgments Sustainability accounting and Taxation Public sector accounting and Auditing Review, original research and conceptual papers that apply behavioural concepts and theories to finance and accounting, focusing on extending our understanding and explanation of organizational behavior and financial decision-making, will be published by the journal. JOURNAL PLAGIARISM POLICY To ensure the integrity and originality of published articles, the Journal of Behavioral Accounting has strict plagiarism policy. Accordingly, prior to the commencement of the review process, all submitted manuscripts are subjected to plagiarism screening test. Thereafter, only a manuscript whose plagiarism screening result is 15% or less will be sent out for review, while those with plagiarism screening results between 16% and 40% will be sent back to the author(s) for content revision. Additionally, manuscripts whose plagiarism screening results are more than 40% will be desk-rejected without review. Moreover, if plagiarism is detected after publication, the article will be retracted after preliminary investigation. So, it is the responsibility of the authors to ensure the originality of their work by ensuring proper citation of the sources of the borrowed ideas presented in their manuscripts, and to disclose very adequately any potential conflict of interest. JOURNAL SUBJECT AREAS Accounting, Business, Management, Finance and Behavioural Sciences related subjects For details and submission, please contact the following: Editor-in-Chief: Professor Benedette Nneka Okezie Department of Accounting, Alex Ekwueme Federal University, Ndufu-Alike, Nigeria Phone: +2348131684422 Email: benedetteokezie1@gmail.com OR The Managing Editor: Associate Professor Isaac Monday Ikpor Alex Ekwueme Federal University, Ndufu-Alike, Nigeria Phone number: +2348037919442 Email: isaac.monday@funai.edu.ng
Department of Accounting, Alex Ekwueme Federal University Ndufu-Alike Ikwo, Ebonyi State, Nigeria
EFFECT OF INSTITUTIONAL AND FOREIGN OWNERSHIP ON THE FINANCIAL PERFORMANCE OF LISTED FIRMS IN NIGERIA
This study examines the effect of institutional and foreign ownership on the financial performance of listed firms in Nigeria, measured by Return on Equity (ROE). Ownership structure is increasingly recognized as a crucial determinant of corporate governance and firm profitability, particularly in emerging markets characterized by agency conflicts, regulatory challenges, and managerial opportunism. Institutional investors, including pension funds and insurance companies, are expected to enhance oversight, improve decision-making, and strengthen accountability, while foreign ownership is presumed to introduce international governance standards, advanced technologies, and superior managerial practices. Grounded in Agency Theory, which emphasizes the alignment of managerial actions with shareholder interests, the study investigates how these ownership types mitigate agency problems and influence firm performance. Using a panel dataset of 62 listed Nigerian firms covering the period 2011–2024, descriptive statistics, correlation analysis, unit root, and cross-section dependence tests were conducted to ensure data robustness. The Generalized Method of Moments (GMM) regression technique was employed to analyze causal relationships. The results indicate that institutional ownership negatively and significantly affects ROE, suggesting that passive investment strategies or short-term profit focus may limit governance benefits. Conversely, foreign ownership exhibits a positive and significant effect on ROE, reflecting the contribution of external shareholders to improved monitoring and operational efficiency. The findings underscore the need for policies that encourage active institutional engagement and facilitate foreign participation while strengthening transparency and accountability in corporate governance. This study contributes to the literature by simultaneously assessing institutional and foreign ownership effects in the Nigerian context, offering insights for regulators, investors, and corporate managers aiming to optimize ownership structures for enhanced financial performance.
Copyright (c) 2026 JOURNAL OF BEHAVIOURAL ACCOUNTING https://creativecommons.org/licenses/by-nc-sa/4.0
BOARD CHARACTERISTICS AND CORPORATE CASH POLICIES OF QUOTED DEPOSIT MONEY BANKS IN NIGERIA
This study examined the effects of board characteristics on corporate cash policies of quoted deposit money banks in Nigeria for the period of ten (10) years from 2014 -2023. Ex- facto research design was employed, while secondary data were employed on all the fourteen (14) listed Deposit Money Banks in Nigeria. The independent variables are Board size, women on the Board, Non-Executive Directors and Board meeting while the dependent variables are cash and credit policies. Data collected were analysed with descriptive statistics, correlation and OLS multiple regressions analysis. The findings showed that Board size, number of women on the Board and Board meetings have positive significant effects on cash policies of Quoted Deposit Money Banks in Nigeria, though the number of Non-Executive Directors on the Board has insignificant positive effect on the formulation and execution of cash policies of Quoted Deposit Money Banks in Nigeria. The study recommended that that banks maintain adequately sized boards with diverse skills and experience to facilitate sound decision-making. Secondly, female representation on boards also shows a positive significant impact. Increasing the number of women in boardrooms is advised, as gender-diverse boards tend to make better financial decisions and promote strong corporate governance. Although the effect of non-executive directors on cash policy is statistically insignificant, maintaining their presence is still encouraged for improved oversight and independence, which can indirectly enhance decision-making quality. Lastly, frequent and well-structured board meetings positively influence cash policy formulation. Regular meetings enable continuous evaluation of liquidity strategies, thereby reinforcing policy effectiveness. These findings collectively underscore the importance of strategic board composition and governance practices in strengthening financial management in Nigerian banks.
CLOUD ACCOUNTING: AN INNOVATIVE BUSINESS MODEL IN A COMPLEX ENVIRONMENT
Advances in information technology have been noted as a key force in changing management accounting. Cloud accounting is quickly becoming one of the most popular and promising technologies. It offers variety of opportunities that help organizations to improve their business and use technology more efficiently. Although cloud accounting offers numerous benefits to business, it also has some drawbacks. Giving the relative lack of existing research in cloud accounting, this paper conducts a review of the cloud technology literature to acquire some basic knowledge of the concepts, benefits and risks associated with cloud accounting. The paper also explores some solutions to overcome the drawbacks of cloud accounting.
BOARD CHARACTERISTICS AND CORPORATE CREDIT POLICIES OF QUOTED DEPOSIT MONEY BANKS IN NIGERIA
This study examined the effects of board characteristics on corporate credit policies of quoted deposit money banks in Nigeria for the period of ten (10) years from 2014 -2023. Ex- facto research design was employed, while secondary data were employed on all the fourteen (14) listed Deposit Money Banks in Nigeria. The independent variables are Board size, women on the Board, Non-Executive Directors and Board meeting while the dependent variables are cash and credit policies. Data collected were analysed with descriptive statistics, correlation and OLS multiple regressions analysis. The findings showed that Board size and Board meetings have insignificant positive effects on credit policies of Quoted Deposit Money Banks in Nigeria, while the number of women on the Board and the number of Non-Executive Directors on the Board have positive significant effect on the effectiveness of credit policies of Quoted Deposit Money Banks in Nigeria. The study recommended that Board size, while having a positive but insignificant effect on credit policy, should emphasize quality, diversity, and engagement. Female representation and non-executive directors significantly enhance policy effectiveness, promoting balanced and independent decision-making. Although board meetings had an insignificant impact, improving their quality can enhance policy outcomes. Emphasis on skill diversity and informed discussions can lead to more effective credit policy frameworks.
EFFECTS OF PARTICIPATORY BUDGET PRACTICE ON ECONOMIC DEVELOPMENT IN RURAL COMMUNITIES OF EBONYI STATE: FOCUS ON DEVELOPMENT CENTERS OF EBONYI STATE
The study examined the effects of Participatory Budget Practices on Economic Development in the rural communities of Ebonyi State: Focus on the Development Centers of Ebonyi State. Four research questions guided the study. The design was a descriptive survey while the population of the study is made up of 167 Development Centers key Players (DCKPs) and 300 Rural Communities Stakeholders (RCS) as explained in the methodology of this study. Instrument for data collection was self structured questionnaire which was distributed through the help of three staff of the Development Centers, one from each Senatorial Zone. The instrument was validated by two experts from Faculty of Management Science of Ebonyi State University, Abakaliki. Cronbache’s alpha was used to correlate the 50 copies of the instruments distributed on two weeks interval to staffers of Local Government service Commission and Ministry of Local Government and Chieftaincy Matters of Ebonyi State. It yielded alpha of 0.83 correlation co-efficient. The data collected from the four questionnaires were analyzed using mean and Standard Deviation, while t-test of difference was used to test the null hypotheses at 0.05 level of significance. The findings of the study revealed among other things that arranging for public hearing and meetings for citizens to make input, creating avenues for rural dwellers platform for feedback during budget implementation; community outreach/mobilization and appointing community representatives in budget committee could lead to improve in the provision of portable water to the rural dwellers in Ebonyi State. The study recommended that Local Government should always engage the citizens in the budgetary process to allow them present their most pressing needs such as provision of portable water to the rural dwellers; Local Government should enforce transparency approaches in the process of budgeting to enable the citizens to effectively participate on the process. This could help the stakeholders of the communities. The findings of this study has shown that participatory budget could improved economic development at the rural communities of Ebonyi State to high extent visa-viz provision of portable water to the rural dwellers, quality education, improved electricity supply and employment opportunities to the rural communities of Ebonyi state. These have definite implications on the local government, the rural dwellers and the policy makers. It then means that if the stakeholders of the rural communities are given opportunities to participate in planning the development of their areas they could present the major challenges facing them to be included in the budget.
EFFECT OF CORPORATE GOVERNANCE AND RISK MANAGEMENT ON THE FINANCIAL PERFORMANCE OF MANUFACTURING FIRMS IN NIGERIA
This paper has discussed the relationship between corporate governance and risk management and the financial performance of Nigerian manufacturing companies using the following variables: Board Regulatory Compliance (BRC), Board Stakeholder Engagement (BSE), Insurance Coverage Ratio (ICR), and Research and Development Intensity (RDI). The secondary data were gathered on 10 manufacturing companies between the years 2014 and 2023, and the regression models were used, and the Q of Tobin as the dependent variable. Results showed that corporate governance and risk management had a tremendous impact on financial performance. In particular, BRC, BSE, and ICR had a positive and significant effect on financial performance, and RDI had a positive but insignificant effect. The size of firms was also a positive factor in influencing financial performance, which underscores the importance of economies of scale and high access to resources available to the larger firms. The research has highlighted that sound corporate governance systems and risk management systems are essential in the maintenance of financial performance in light of the financial challenges in Nigeria. It also addressed a significant gap in the literature and thus offered an insight into the role of governance and risk management in the manufacturing sector of an emerging economy. The results provided viable guidelines to the policy makers and corporate executives to adopt combined strategies for governance and risk management in order to achieve resilience and competitiveness. The research helped to add to the existing literature on corporate governance and financial outcomes, especially in the case of Nigeria, and emphasized the role of more focus on innovation and risk management strategies to reach long-term sustainability.
IMPACT OF ENVIRONMENTAL MANAGEMENT COST DISCLOSURE ON FIRM PERFORMANCE IN NIGERIA: EVIDENCE FROM OIL & GAS FIRMS
This study examined the impact of environmental management cost disclosure on the financial performance of listed oil and gas firms in Nigeria, covering the period 2012–2023. Specifically, the study investigated the effect of health and safety cost (HSC) disclosure and firm size (FSZ) on return on assets (ROA). Secondary data were extracted from annual reports of selected firms, and the Panel Autoregressive Distributed Lag (ARDL) model was employed to estimate both the short-run and long-run relationships among the variables. Findings showed that HSC exerts a positive and highly significant long-run effect on ROA, indicating that sustained investments in safety systems and environmental protection enhance firm performance. However, the short-run effect of HSC was negative and significant, reflecting the immediate financial burdens associated with compliance and safety investments. Firm size demonstrated a positive and significant effect on ROA in the short run but a negative and significant effect in the long run, suggesting that while larger firms benefit from economies of scale initially, prolonged expansion can lead to inefficiencies that reduce profitability. The error-correction term was negative and significant, confirming long-run equilibrium among the variables. The study concludes that environmental management costs and firm size exert dynamic influences on firm performance and recommends stronger environmental disclosure practices, strategic safety investments, and improved efficiency measures for large firms.
AN EXPLORATIVE PERSPECTIVE OF TAX HAVENS AND FISCAL EROSION IN NIGERIA
The study uses an exploratory research design to examine the impact of tax haven jurisdictions on domestic revenue generation in Nigeria. Through an adoption of a qualitative, interpretative methodology, the study synthesizes evidence from corporate relocation patterns, financial statements, and extant literature to analyze the mechanisms of fiscal erosion. The findings reveal a concerning trend of major companies that include Dunlop Nigeria Plc and Michelin Nigeria Plc, relocating their operations to countries like Ghana, motivated by a combination of macroeconomic instability and the pursuit of favourable tax regimes. The migration of these firms increases capital flight which directly diminishes the corporate income tax base thereby worsening Nigeria’s revenue constraints and fostering an increased reliance on debt financing. The study concludes that tax havens exert a significant negative effect by facilitating profit shifting and capital flight, thereby undermining domestic fiscal sovereignty. To mitigate this, recommendations are advanced for the strengthening of domestic fiscal governance through a more transparent and competitive tax code, a robust commitment to international transparency agreements like the automatic exchange of information, and holistic improvements to the business investment climate in Nigeria beyond taxation alone with the aim of discouraging such relocations and further strengthen fiscal resilience.
EFFECT OF INTEGRATED REPORTING QUALITY ON FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA
This study examines the effect of integrated reporting quality on financial performance among the listed consumer goods companies in Nigeria from 2014 to 2024. The study employed an ex-post facto research design. The sample of this study consisted of all 16 consumer goods companies listed on the Nigerian Exchange Group (NGX) and remained listed as of 31st December 2024 through the census sampling method. The secondary data was derived from the annual reports and accounts through content analysis. Data for the dependent variables were extracted from the financial statements of the sampled consumer goods companies from 2014 to 2024. Data for integrated reporting quality (IRQ) was obtained from the MachameRatios Database. These descriptive and inferential statistics with structural equations modelling (SEM) were adopted for data analysis. The findings based on the analysis of data found that integrated reporting quality (IRQ) has a significant effect on Tobin’s Quotient (TQ), market price per share (MPS), and earnings per share (EPS) for listed Nigerian consumer goods companies. It was concluded that integrated reporting quality has a significant negative effect on the financial performance of listed consumer goods companies in Nigeria, confirming the need for increased reporting. The study recommended, among others, the need for companies to make integrated reporting mandatory, as it has shown that it can influence financial performance. Also, managers should monitor their costs of providing this additional information, as research has shown that IRQ has a negative effect on financial performance.
BOARD DIVERSITY AND ETHICAL CORPORATE GOVERNANCE IN NIGERIAN FINANCIAL SECTOR: A STUDY OF DEPOSIT MONEY BANK
This study examines the relationship between board diversity and ethics in corporate governance in Nigeria's financial sector. Focusing on Deposit Money Banks (DMBs), the study investigated three important dimensions of board diversity, which are gender, age, and ethnicity, and their effect on transparency, accountability, and compliance with regulatory requirements which are indicators of ethical corporate governance. The study employed survey research design to gather data from 230 boards of directors and executives of the 7 Nigerian DMBs with international presence, based on census sampling technique the entire population was used as sample. 215 questionnaires were retrieved and used for analysis. The hypotheses were tested with Pearson Product Moment Correlation Coefficient (PPMCC) analysis. Results showed a strong relationship between board diversity and ethical corporate governance in Nigerian DMBs. Specifically, our findings show that age diversity has positive effect on boards’ transparency, gender diversity positively correlates with accountability, and ethnicity diversity positively affects compliance with regulatory requirements. The study hence conclude that board diversity is essential in promoting ethical corporate governance in Nigerian DMBs. Based on the findings, we recommend that The regulators, CBN and the SEC should implement rules that will promote board diversity to help reduce the risk of corporate failures. Policymakers in the Nigerian government should introduce policies that will encourage board diversity. Nigerian DMBs should prioritize board diversity as a means of improving their organisation's governance and reputation.
PEACE ACCOUNTING AND ECONOMIC GROWTH OF NIGERIA
Nigeria's economic growth has become a concern for many, as it is now seen as a key indicator of political performance. Achieving steady economic growth in Nigeria remains difficult due to ongoing issues of insecurity, corruption, and terrorism. Although efforts to tackle these problems have increased, Nigeria still faces significant obstacles, as shown by its fluctuating GDP. While many studies have explored the link between peace accounting and economic growth, there is limited empirical research specifically on how peace accounting affects Nigeria's economic growth. Therefore, this study examines the effect of peace accounting on Nigeria's economic growth. This study employs an ex-post facto research design. Secondary data from the Central Bank of Nigeria, the Institute for Economics and Peace, and Transparency International, covering the period from 1993 to 2023, were utilised. Descriptive and inferential statistics (Autoregressive Distributed Lag Model) were applied to analyse the data at the 5% significance level.Findings indicated that peace accounting had a joint significant effect on economic growth and RGDP (Adj. R² = 0.698, F(4,26) = 6.206, ρ = 0.001) in Nigeria. Specifically, LCIS had a positive but statistically insignificant effect (β = 1.563, t = 1.937, ρ = 0.0718), LME had a significant negative effect (β = -1.678, t = -2.252, ρ = 0.0397), COR had an insignificant negative effect (β = -0.095, t = -1.036, ρ = 0.3166), and TER had an insignificant positive effect (β = 0.026, t = 0.195, ρ = 0.8478) on RGDP.The study concluded that peace accounting affects economic growth in Nigeria. It recommends that government agencies, academics, and investors implement strategic peace policies to boost Nigeria’s economic growth.
RESPONSIBILITY ACCOUNTING PRACTICES AND SUSTAINABLE DEVELOPMENT IN NIGERIA’S PUBLIC SECTOR
This is an exploratory survey study that deployed a qualitative approach to examine responsibility accounting practices and sustainable development in Nigeria’s Public Sector. The study was undertaken out of the increasing issues of fiscal indiscipline, pervasive corruption, inefficiency, poor financial management and weak accountability frameworks persistence in the public sector of Nigeria. This study critically examines the role of responsibility accounting practices as a management tool in driving sustainable development in government sector by linking expenditure responsibility, revenue generation responsibility and investment activities responsibility to measurable outcomes of enhances budgetary compliance, cost efficiency, responsible government and service delivery, thereby supporting the broader goals of economic, social, and institutional sustainability development. The data were obtained specifically by reviewing of literature in an armchair research method and the exploratory approach. Contextual analysis method was used to analyse the data through adequate exegesis of the gathered secondary information in arriving at conclusion. The findings revealed that when responsibility accounting is properly applied in the public sector, it will promote sustainable development by enhancing responsibility of office, financial transparency, efficiency, and accountability in the use of public funds as well as allocates the responsibility for financial performance to specific units or managers within government organizations, enabling better oversight of public resource management towards achieving social and environmental goals. Moreso, it will not only curbs resource mismanagement but also promotes good governance, more revenue generation, increasing investment, public trust, and long-term development and growth. It was concluded that, responsibility accounting practices are indispensable for repositioning Nigeria’s public sector as a catalyst for sustainable national development and growth. The study recommended that effective implementation of robust financial reporting systems, capacity development of public officers, and strong enforcement of accountability mechanisms will guarantee sustainable national development.
A REVIEW OF SERVICE QUALITY MODELS FOR MILLENNIAL IN EMERGING MARKET: THE NIGERIAN EXPERIENCE
There are empirical evidences showing that service outcomes such as loyalty, satisfaction and preference is determined across demographic lines of age, gender, income and educational qualification. The millennial are a group of consumers distinguished by age and some other peculiar characteristics that makes them unique in the market place. With the current transformation of services from the traditional based to IT based, service quality (an abstract construct) requires utmost attention from the service provider. This study therefore seeks to identify and understand the peculiar characteristics of the millennial consumer in order to predict the service quality model that could be best suited for measuring service quality for this generation cohort in an emerging market such as Nigeria. The study adopted the thematic style in presenting the different service quality models that have been developed over the years as well as, the peculiar characteristics of the millennial in Nigeria. Based on the generational theory, the study identified the millennial uniqueness in the market place due to their adoption of the internet. The study therefore suggests the modification of service quality models that resonates with the individual identity. The need to understand the relationship between the consumer and the service provider in an online environment is a limitation of this study and a basis for future study
TRACING WEALTH AND ENSURING FAIRNESS: FORENSIC ACCOUNTING IN MARITAL CONFLICT RESOLUTION
The research examined how forensic accounting can aid in providing transparency and fairness in resolving marital conflicts, mainly in divorces with cases of asset hiding and financial misrepresentation. The research intended to quantify the level of asset concealment, measure the application of forensic accounting techniques effectiveness in different jurisdictions, and by how much the use of longitudinal financial analysis helped in achieving fair settlements. Employing a quantitative approach based on secondary panel data from 2010 to 2024 for the United States, the United Kingdom, Kenya, Nigeria, South Africa, and Pakistan, the study utilized statistical models like fixed-effects regression, and ANOVA to investigate the correlation between the performance of forensic accounting, the capacity of institutions, and levels of hidden assets. Among the findings were that countries with robust institutional frameworks and sophisticated forensic techniques such as digital ledger review, anomaly detection, and cash flow reconstruction were able to reveal fewer hidden assets, and higher fairness in settlements than countries with poorly enforced systems. The regression results showed that increases in the effectiveness of forensic accounting and institutional capacity led to significant decreases in asset concealment, and longitudinal financial analysis made settlement transparency gradually improved. The article presented forensic accounting as a necessary weapon to secure justice, hold responsible and equally divide the assets in marital conflicts. Developing countries were advised to reinforce institutional frameworks, upgrade digital audit systems, and take up standardized forensic accounting practices so as to raise the level of fairness in divorce settlements. The next researchers were urged to consider the qualitative nature of the emotional and behavioural spheres of the financial deception during the divorce ‌processes.
ARTIFICIAL INTELLIGENCE ESPOUSAL AND ORGANIZATIONAL PERFORMANCE OF DEPOSIT MONEY BANKS IN PORT HARCOURT RIVERS STATE, NIGERIA
This study investigates the impact of Artificial Intelligence (AI) adoption on the organizational performance of Deposit Money Banks (DMBs) in Port Harcourt, Rivers State, Nigeria. The research specifically examines the extent of AI integration, its influence on operational and financial performance, and its effect on customer satisfaction. Employing a quantitative cross sectional survey design, data were collected from 285 employees across four selected DMBs, Zenith Bank Plc, United Bank for Africa Plc, Fidelity Bank Plc, and Union Bank Plc, using a structured questionnaire. Analysis was conducted using descriptive and inferential statistical techniques via SPSS, including regression and correlation analyses. The findings reveal that AI adoption is substantial, with robotic process automation, machine learning, and natural language processing extensively implemented. Furthermore, AI adoption has a statistically significant positive effect on operational efficiency, financial performance, and customer satisfaction, with a strong positive correlation between AI adoption and overall organizational performance. The study concludes that AI is a critical driver of efficiency, profitability, and customer experience in Nigerian banks. It recommends strategic expansion of AI adoption, integration of AI into core operational processes, enhancement of AI-driven customer engagement, and investment in human capital and data infrastructure. These findings provide empirical guidance for policymakers, bank executives, and stakeholders seeking to leverage AI for sustained organizational performance and competitive advantage in the Nigerian banking sector.
EFFECT OF BOARD ATTRIBUTES ON THE RETURN ON ASSETS OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
This study investigated the effect of board attributes on the financial performance of listed deposit money banks in Nigeria, with a focus on CEO duality and audit committee size as key governance variables. The research adopted an ex post facto design and employed a quantitative approach, analyzing ten Nigerian banks listed on the Nigerian Exchange Group (NGX) over a ten-year period (2015–2024). Secondary data were collected from annual reports and financial statements, while return on assets (ROA) was used as a proxy for financial performance. Robust Least Squares regression was applied to account for outliers and non-normality in the data. The findings reveal a negative but statistically insignificant relationship between CEO duality and ROA, suggesting that concentration of leadership roles does not substantially affect asset utilization under the prevailing regulatory framework. Audit committee size exhibited a positive but insignificant association with ROA, indicating that merely expanding committee membership does not guarantee improved financial performance. These results align with governance theories emphasizing effective monitoring and oversight, highlighting that qualitative aspects of board attributes may be more critical than formal structural characteristics. The study underscores the importance of enhancing board engagement, independence, and audit committee expertise to strengthen bank performance.
MODERN DIGITAL CURRENCIES AND GLOBAL FINANCIAL MANAGEMENT
The study critically examined modern digital currencies and global financial management. The study used survey descriptive research design. A random sampling technique was used to select 75 staff out of the population of 150 staff in the ministry of finance Abia State. Questionnaires were administered to these staff and were properly filled and returned. The study used simple percentage ratio to analyze the different answers obtained from the questionnaire. The analysis of variance (ANOVA) was used to test the hypotheses about the different between means of group. The various analysis showed positive relationships between the variables, which means modern digital currencies and other forms of new payment technologies contributes to global financial management. In other words, the study revealed that digital currency has a crucial role in the global financial management as it facilitates exchanges, enhances monetary economics and cross border payment. The new technologies are faster, cheaper, more transparent and offer more inclusive cross-border payment services that would convey extensive benefits for economies globally, supporting economic growth, universal trade, comprehensive expansion and financial inclusion. The study, therefore, recommended among others that global internet connectivity and technological infrastructure should be enhanced in both emerging and developed nations to ensure effective financial management through the use of modern digital currencies. Further study can be carried out in the specific area of cryptocurrency as part of new payment technology or central bank digital currency in relation to global financial management.
STRENGTHENING INVESTOR CHARACTER FOR IMPROVED FINANCIAL WELLBEING: EVIDENCE FROM BIG NATIONAL SACCOs IN UGANDA
Purpose: This study investigates the relationship between investor character and financial wellbeing among members of Uganda’s major national Savings and Credit Cooperative Organizations (SACCOs), including Wazalendo SACCO, URA SACCO, Exodus SACCO, and Parliamentary SACCO. The research is motivated by the need to understand how behavioral traits of investors influence financial outcomes, particularly in cooperative financial contexts in emerging economies. Design/methodology/approach: A cross-sectional, quantitative research design was employed. Data were collected from 384 SACCO members selected from a target population of 158,844 using stratified proportionate and simple random sampling techniques. A structured questionnaire was administered, and data were analyzed using SPSS, employing descriptive statistics, Pearson correlation, and multiple regression analysis. Findings: Correlation and regression analyses examined the links between investor character and financial wellbeing. Results indicated a positive and statistically significant relationship (r = .392, p < .01). Regression analysis confirmed that investor character significantly predicts financial wellbeing (β = .144, p = .001), suggesting that stronger investor traits are associated with higher levels of financial stability, peace of mind, and goal attainment. Practical implications: The findings highlight the importance of fostering behavioral competencies among SACCO members. SACCO managers, policymakers, and financial literacy practitioners are encouraged to design targeted interventions that enhance self-control, mental accounting, and framing skills, thereby strengthening members’ financial habits and overall financial wellbeing. Originality/value: To the best of the authors’ knowledge, this is among the first empirical studies to examine the behavioral foundations of financial wellbeing within SACCO members in a least developed country context. Grounded in the Behavioral Life-Cycle Hypothesis (BLC) and the Consumer Financial Wellbeing Theory (CFWB), the study contributes to understanding how investor behavioral traits translate into improved financial outcomes in cooperative financial settings.
EFFECT OF E-ACCOUNTING SYSTEMS IN FINANCIAL PERFORMANCE OF QUOTED DEPOSIT BANKS IN NIGERIA
This study examines the effect of e-accounting systems in financial performance of quoted deposit banks in Nigeria. The specifics objectives of the study are to investigate the effect of point of sale (POS), examine the effect of automated teller machine (ATM) and evaluate the effect of mobile banking (MOB), all on return on asset (ROA) of deposit bank in Nigeria. Primary data was used in this study and chi-square analysis was used to analyze the data. The study adopted a descriptive research design. A purposive sampling technique was employed to select a sample size of eight (8) from 14 quoted deposit banks with a complete data for the ten (10) year period ranging from 2014-2023. The study found out that adopting an electronic accounting system has significantly improved the financial performance of quoted deposit banks in Nigeria, as banks are more profitable and engaged their clients with their electronic transactions. From our analyses and findings, the study therefore recommends that adoption of computerized accounting information system is advisable for all banks in a bid to ensure correctness in reporting and general record management as enterprises that had this system showed an increase in return on investment, Government should introduce foreign technology from advance and developed country into the Nigeria banking industry and banks that make use of the e-accounting will be more and more globalised, direct and cyberspace oriented. And CBN should make it mandatory for banks staff to embrace e-accounting and also to undergo feasibility study on electronic accounting.
A FORWARD-LOOKING MACROECONOMIC SCALAR FOR IFRS 9 PD IN DEVELOPING ECONOMIES
With the introduction of an anticipated credit loss (ECL) framework to account for impairments, IFRS 9 regulates the reporting of financial assets and liabilities. At every reporting date, the ECL model updates recognized ECLs by taking into account historical data, present circumstances, and anticipated information. Usually, ECL is divided into three parts: exposure at default (EAD), loss given default (LGD), and probability of default (PD). In order to improve accuracy, this research suggests a way for creating a macroeconomic scalar to modify PD in the ECL model by including forward-looking data. Datasets from Cameroon and Nigeria are utilized to demonstrate the suggested methodology, and different modeling approaches are employed for validation. Five steps make up the methodology: (1) planning and research, (2) data preparation, (3) model construction, (4) macroeconomic scalar computation, and (5) model validation. Regression, feed forward neural networks, random forest, gradient boosting, and GLM (Logit, Probit) are some of the methods used. For the Nigerian and Cameroonian datasets, the macroeconomic scalar that was constructed successfully adjusted PD within the ECL model. Every modeling strategy offered insightful information, proving the scalar's capacity to enhance ECL forecasts. A reliable technique for adding forward-looking data to the ECL model is to incorporate a macroeconomic scalar. This improves PD accuracy and can take into account the uncertainty, volatility, and sparse data that are characteristics of developing countries.In this study, a scalable method for modifying PD in ECL models with macroeconomic data is presented, with a focus on developing nations.
CARBON ACCOUNTING PRACTICES AND ENERGY TRANSITION READNESS OF OIL AND GAS COMPANIES IN NIGERIA
This study investigates carbon accounting practices and energy transition readiness among oil and gas companies in Nigeria. In this regard, it attempts to assess the level of carbon accounting adoption, challenges affecting implementation, the readiness for the global energy transition, and evidence-based recommendations for improved reporting and low-carbon investment strategies. The methodology applies a qualitative research design, relying only on secondary data from academic literature, industry reports, company sustainability disclosures, and credible regulatory sources like NEITI. Thematic content analysis was employed to identify trends in carbon accounting adoption, key components of practice, challenges, and readiness indicators across multinational and indigenous firms. Results show that 64% of multinational firms have high adoption of carbon accounting practices, while that of indigenous firms is 38%. Moderate adoption in multinationals stands at 27% and indigenous firms at 41%, while low/no adoption stands at 9% and 21%, respectively. Emission reporting at 71% and sustainability auditing at 58% represent the most important practices. Carbon footprint monitoring and carbon pricing remain relatively high at 63% and 42%, respectively. Key challenges here include the high cost of carbon data technologies at 66%, weak regulatory enforcement at 59%, a lack of skilled personnel at 52%, and poor data transparency at 47%. Energy Transition Readiness is rated highest in ESG compliance reporting at 61% and gas-to-power / decarbonization project development at 58%, while renewable energy investment is at 33% and carbon capture implementation at 24%. Multinationals are more integrated on account of better governance and technical capacity, while local firms fall behind. Among others, recommendations include regulatory enforcement, capacity-building, harmonized reporting frameworks, fiscal incentives for low-carbon investment, enhanced data infrastructure, and continuous monitoring of progress toward strengthened sector-wide transition readiness.
CYBER SECURITY RISK DISCLOSURE QUALITY AND ITS EFFECT ON INVESTOR CONFIDENCE IN NIGERIA'S FINANCIAL INSTITUTION
The paper focuses on investigating the practice of cybersecurity risk disclosure by financial institutions in Nigeria and the effect on investor confidence. The study also assesses the extent and standard of the disclosure, the elements affecting it, and the relationship between standard and confidence. As the study adopted a qualitative approach, it relied on secondary sources of data such as annual reports, ESG disclosures, regulatory documents, and literature. The thematic analysis conducted on governance matters, reporting of incidents, investment in infrastructure, awareness among customers, and transparency helped to assess the inter-linkages between disclosure and confidence of investors. The result shows a higher percentage (62%) of cybersecurity risk disclosure by multinational banks compared to indigenous banks (37%), which is largely due to the influence of global governance systems. The importance of cybersecurity risk disclosure is viewed by stakeholders, with priority considerations on governance (71%), reporting (65%), infrastructure (54%), and awareness (48%). Other important considerations are high implementation costs (67%), a shortage of qualified personnel (58%), inadequate regulatory support (53%), and low awareness (45%). Perceived assessments by the stakeholders indicate increased perceptions on trust (39%), risk management (37%), and investment (40%) due to high-quality cybersecurity risk disclosure. High-quality disclosure has a positive influence on 57% of stakeholders, and low-quality disclosure has a negative influence on 50%. Transparent and effective cybersecurity risk disclosure is very important to improve investor trust, operational resilience, investment decisions, and stability within the digital financial ecosystem of Nigeria.
AUDIT DIGITALIZATION AND ITS IMPACT ON FRAUD PREVENTION AND DETECTION: EVIDENCE FROM NIGERIA
The rapid evolution of digitalisation has led to an increase in fraud, making the role of digital audit tools crucial in preventing and detecting fraudulent activities. n this study on audit digitalization and its impact on fraud prevention and detection with emphasis on its adoption, benefits and challenges among sole/partnership audit firms in Nigeria. To address this dissensus, we used questionnaire to elicit responses from participants where descriptive statistics and regression analysis were adopted. Findings suggest moderate adoption rates with variations in integration into audit processes. Skill gaps, regulatory constraints, technological limitations, and cybersecurity vulnerabilities emerge as significant challenges. However, audit digitalization demonstrates a significant positive impact on enhancing audit practices and stakeholder confidence. We present ideas for addressing these challenges based on our research and lessons from other fields.
EFFECT OF FOREIGN EXCHANGE RATE ON ECONOMIC GROWTH IN NIGERIA
This study examined the effect of exchange rate on gross domestic product (GDP), as a proxy of economic growth with inflation rate, interest rate and trade balance as determinants of the exchange rate. Secondary data from the Central Bank of Nigeria (CBN) Statistical Bulletin collected for a period of thirty-three years, 1990-2023 was used. Ex-post facto research design was applied. While some pre and diagnostic tests were carried out to confirm the integrity of the data and their relatedness in both short- and long-term basis, Autoregressive Distributed lag (ARDL) model was employed in the analysis of hypotheses. It was found that while there is no significant effect of inflation rate on Nigeria’s Gross Domestic product (GDP), interest rate and trade balance have positive effect on Nigeria’s Gross Domestic Product (GDP). This implies that interest rate and trade balance affect economic growth in Nigeria. The study also demonstrates that exchange rate fluctuations is pivotal to the economic growth of Nigeria, other economic variables used in this study exchange rate((EXR), interest rate (INR), inflation rate (INF)and trade balance (TB) may result in a direct effect on the Nigerian economic growth. The study concludes that interest rate and trade balances should be handled with utmost concern by policymakers to avoid unnecessary variations that may inflict unbearable economic hardships on the Nigerian people. The study recommends that government should focus on strategies to improve its trade balance, including promoting exports, reducing reliance on imports, encourage diversification and implement a robust monetary policy aimed at controlling inflation to enhance the living standard of Nigerians.
COMPARATIVE ANALYSIS OF ENTERPRISE VALUE ACROSS THE SECTORS IN THE NIGERIAN STOCK MARKET
This study investigates the relationship between corporate environmental performance and enterprise value in Nigeria, focusing on three key environmental metrics: Resource Use Score, Emissions Score, and Innovation Score. Data were collected from corporate publications, including annual and independent sustainability reports. The study employed content analysis to extract relevant data, followed by descriptive statistics and panel regression analysis to estimate the model and test the hypotheses. The Hausman test was used to determine whether a fixed-effects or random-effects model was more appropriate. The results show that overall corporate environmental performance significantly impacts enterprise value in Nigeria. Specifically, the Resource Use Score has a statistically significant positive relationship with enterprise value. However, no statistically significant relationships were found between Emissions Score and Innovation Score and enterprise value.The study suggests that integrating environmental sustainability practices, particularly in resource use, into corporate strategies can enhance enterprise value. The researchers’ recommended that companies in Nigeria should prioritize environmental sustainability to boost long-term business performance.