UMM Journal of Accounting and Financial Management

Joel Kanyi — Thu, 17 Sep 2026 00:00:00 +0000

Table of Contents

IMPACT OF SUSTAINABILITY REPORTING ON RETURN ON EQUITY OF CONSUMER GOODS FIRMS IN NIGERIA

Oluyemi Akanbi ODUTOLA, Alexander Tunde OGUNTUASE, Jayeola OLABISI — Thu, 17 Sep 2026 00:00:00 +0000

The investigation observed the impact of sustainability reporting and Return on Equity (ROE) of consumer goods firms in Nigeria. An ex-post fact research design was employed for the study. The study populations comprised of thirty-four (34) registered companies in the consumer goods sector, filtered from the entire list of Fast-Moving Consumer Goods Firms (FMCG) with physical presence in Nigeria as at December 2022. The study used secondary data and the Factbook of the Nigerian Stock Exchange (NSE) served as the source of these data. The study adopted quantitative method of data analysis as well as inferential statistics. Findings showed that the relationships between certain variables related of the independent variable (SR) and the dependent variable (ROE) for selected consumer goods firms in Nigeria for a period of sixteen (16) years revealed mixed associations of either positive or negative relationship that showed that firms that report more on environmental factors, are larger in size, older, and have higher financial leverage tend to have higher ROE. Based on the above findings, this study concludes that companies may need to strike a balance between transparency and profitability to optimize their financial performance. Therefore, the recommendation of the study was that managers of these buyer goods firms in Nigeria must in their various attempts to attend to the requirements of the current generation must not diminish the capacity of future generations to meet their desires.

ENVIRONMENTAL DISCLOSURE AND PERFORMANCE OF NON-FINANCIAL COMPANIES IN NIGERIA: THE MODERATING EFFECT OF BOARD SUSTAINABILITY COMMITTEE

David Terna YIMAN, Mike Terkuma SOOMIYOL, Ter Abraham TSEKPEGHER — Thu, 17 Sep 2026 00:00:00 +0000

The study examined the moderating effect of board sustainability committee on the relationship between environmental disclosure and performance of non-financial companies listed on the Nigerian exchange Group. The explanatory variable used was environmental disclosure. The moderating and control variables were board sustainability committee and firm size respectively. The dependent variable was firm performance proxied by return on assets, return on equity and Tobin’s Q. Data were obtained from a sample of thirty (30) non-financial firms out of a population of 72 non-financial firms listed on the Nigeria Exchange Group as at December, 2024. The multiple regression method of data analysis was employed to analyze the data for the period 2015- 2024. It was found that environmental disclosure had significant effect on all the performance proxies. It was further found that the moderating effect of board sustainability committee with environmental disclosure had significant effect on all the proxies of performance. The study concluded that the moderating effect of board sustainability disclosure with environmental disclosure had significant effect on the performance of non-financial companies listed on the Nigerian Exchange Group. It was therefore, recommended that non-financial companies in Nigeria should continue to disclose environmental issues in the manner that has affected positive performance.

YOUTH EMPOWERMENT AND ITS EFFECT ON UNEMPLOYMENT REDUCTION AMONG YOUTHS IN TARABA STATE, NIGERIA

Oscar Dooter IGIRAH, Oluwadimimu Aminat ABDULRASHEED, Mahmud Ibrahim ADAMU — Thu, 17 Sep 2026 00:00:00 +0000

This study focused on youth empowerment and its effect on unemployment reduction among youths in Taraba State, Nigeria. Specifically, it investigated the effect of educational empowerment and economic empowerment on unemployment reduction. The study was anchored on empowerment theory. Survey research design was adopted; the population of the study consists of 664,699 youths across the Sixteen (16) local Government Areas of Taraba state. This study used both secondary and primary sources of data; secondary data was sourced through established record such as reports, journals, databases, and official statistics, while the primary data was collected with the aids of observations, interviews and structured questionnaire on five-point likert scale administered to the sample size of four hundred (400) youths across the state. This study used stratified random sampling technique in selecting the respondents. The hypothesis of the study was tested using multiple regression analysis. The result revealed that both educational empowerment and economic empowerment have a significant positive effect on unemployment reduction among youths in Taraba State. Based on the findings the study recommended that Taraba State government should establish community-based vocational training centers across local government areas in the State, integrated into the formal education system, to equip youths with both academic knowledge and marketable skills such as ICT, agriculture, tailoring, and renewable energy technologies. Also the state government should implement a youth-targeted microfinance scheme in partnership with local cooperatives and financial institutions, offering accessible, low-interest loans and financial literacy training to economically empower young people in the State. By providing start-up capital and business management skills, this initiative enables youths to launch and sustain small-scale enterprises, thereby creating employment for themselves and potentially for others, which directly contributes to reducing unemployment in the state.

EFFECT OF CLOUD-BASED ACCOUNTING ON PERFORMANCE OF MICROFINANCE BANKS IN MAKURDI METROPOLIS OF BENUE STATE

Moses Terseer SENDE, Emmanuel Igbawase ABANYAM, Joel Kanyi TIVDE — Thu, 17 Sep 2026 00:00:00 +0000

This study examined the effect of cloud-based accounting on the performance of Microfinance Banks in Makurdi Metropolis, Benue State, Nigeria. Motivated by chronic and documentable performance failures, escalating regulatory sanctions, and pervasive accounting technology deficits in Makurdi Microfinance Banks, the study operationalised cloud-based accounting through three dimensions: automated financial reporting, real-time data access, and multi-user collaboration functionality. Institutional performance was measured using financial performance, operational efficiency, and portfolio quality as proxies. Drawing on the Technology Acceptance Model and the DeLone and McLean Information Systems Success Model, the study adopted a survey research design. Primary data were gathered from 98 staff of ten purposively selected Microfinance Banks in Makurdi Metropolis through structured questionnaires. Data were analysed using descriptive statistics and multiple linear regression. Findings revealed that automated financial reporting has a significant positive effect on financial performance (β = 0.487, p < 0.05); real-time data access exerts a significant positive effect on operational efficiency (β = 0.413, p < 0.05); and multi-user collaboration functionality significantly improves portfolio quality (β = 0.362, p < 0.05). The study concludes that cloud-based accounting is a potent lever for reversing the documented performance deterioration of Microfinance Banks in Makurdi Metropolis and recommends that the Central Bank of Nigeria incorporate minimum cloud accounting adoption standards into the Microfinance Banks supervisory framework for Benue State.

MODERATING EFFECT OF BOARD SUSTAINABILITY COMMITTEE ON SOCIAL DISCLOSURE AND PERFORMANCE OF NON-FINANCIAL COMPANIES IN NIGERIA

David Terna YIMAN, Johnmark Mkav KORNA, Ter Abraham TSEKPEGHER — Thu, 17 Sep 2026 00:00:00 +0000

This study investigated the moderating effect of board sustainability committee on the relationship between social disclosure and performance of non-financial companies listed on the Nigerian Exchange Group. The independent variable used was social disclosure while the moderating and control variables were board sustainability committee and firm size respectively. The dependent variable was firm performance proxied by return on assets, return on equity and Tobin’s Q. The study adopted Ex Post Facto research design while data were obtained from financial reports of thirty (30) non-financial firms out of a population of 72 non-financial firms listed on the Nigeria Exchange Group as at December, 2024. The condition for selecting the 30 companies was based on the availability of data within the study period 2015-2024. The multiple regression method of data analysis was employed to analyze the data; it was found that social disclosure had significant effect on all the performance proxies. It was further found that the moderating effect of board sustainability committee with social disclosure had significant effect on all the proxies of performance except return on equity which had insignificant effect. The study concluded that the moderating effect of board sustainability committee on social disclosure had significant effect on the performance of non-financial companies listed on the Nigerian Exchange Group. It was recommended that non-financial companies in Nigeria should continue to disclose social issues in the manner that will affect positive performance

CORPORATE REPUTATION AND FIRM PERFORMANCE OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA

Michael Ikponmwosa IGBINOVIA, Jimoh Ayoboh ABU — Thu, 17 Sep 2026 00:00:00 +0000

This study examined the impact of corporate reputation on the performance of listed consumer goods firms in Nigeria. The study adopted an ex post facto research design, utilizing secondary data from audited annual reports of 18 purposively sampled firms over the period 2014–2023. Panel data analysis using Estimated Generalized Least Squares (PEGLS) was employed to test the relationships among variables. The findings revealed that financial market reputation, intangible value reputation, and customer reputation significantly and positively influence firm performance, indicating that strong market signals, robust intangible assets, and customer loyalty serve as key drivers of profitability. In contrast, social reputation and shareholders’ reputation, exhibited positive but statistically insignificant effects on ROA, suggesting that longevity, CSR activities, shareholder returns, and scale alone are insufficient to guarantee superior performance. The study concludes that corporate reputation exerts varying degrees of impacts on performance in the Nigerian consumer goods sector. The study stresses the need for firms to strategically leverage market credibility, intangible resources, and customer relationships, and offers insights for managers, investors, and policy makers seeking sustainable profitability and competitive advantage.

AGENCY RESIDUAL LOSS AND FINANCIAL PERFORMANCE OF LISTED COMPANIES IN NIGERIA

Thu, 17 Sep 2026 00:00:00 +0000

This study investigated the effect of agency residual loss on financial performance as well as a comparative examination of listed financial and non-financial companies in Nigeria, using the ex-post facto research design. The study used a sample of 10 financial and 10 non-financial companies from a population of 157companies listed on the NGX from 2011 to 2020 using the filtering and random methods. Data were sourced from annual reports of twenty (20) sampled companies. Panel regression estimate was used with the aid of multiple regression techniques for data analysis and findings show that agency residual loss exerts a significant positive effect on financial performance of listed financial companies in Nigeria. The study further established that a significant difference exists in the effect of agency residual loss on financial performance of listed financial and non-financial companies in Nigeria. The study, therefore, recommended that companies in the financial sector should prioritize agency cost in the form of residual loss as it significantly influence financial performance.

ACCOUNTING PRACTICE AND EARNINGS PERSISTENCE OF NIGERIAN OIL AND GAS SECTOR

Johnmark Mkav KORNA, Ter Abraham TSEKPEGHER, Patrick Orbanga AWUHE — Thu, 17 Sep 2026 00:00:00 +0000

The work investigated accounting practice and earnings persistence in the Nigerian oil and gas industry. The specific objective was to determine the effect of full cost and successful efforts accounting on earnings persistence. Secondary data was sourced from the director’s reports of annual financial statements for the sampled companies studied. The ex-post facto research design was adopted to determine the effect for 8 oil and gas companies purposively selected for the period of 2006-2025. The panel regression model estimation technique was employed using the STATA computer software version 21.0 for statistical analysis. Findings revealed that full cost accounting had a significant effect on earnings persistence while successful efforts accounting had an insignificant effect on earnings persistence. It was recommended that oil companies operating in Nigeria should adopt full cost accounting for their operations and practice.

EFFECT OF COERCIVE INSTRUMENTS: EVALUATING TAX ENFORCEMENT STRATEGIES ON CORPORATE COMPLIANCE IN KWARA STATE

Abdul-Hakeem Oluwole SHUAIB, Abdurasheed Taiwo ABDULLAHI, Ibrahim SALAUDEEN — Thu, 17 Sep 2026 00:00:00 +0000

This study investigates the efficacy of coercive enforcement strategies specifically penalties, premises sealing, and legal prosecution on corporate tax compliance within Kwara State, Nigeria. Amidst aggressive domestic resource mobilization efforts by the Kwara State Internal Revenue Service (KW-IRS), this research addresses the critical tension between state-backed punitive measures and long-term taxpayer sustainability. Utilizing a quantitative survey design, the study synthesized perspectives from 345 respondents, including tax administrators and corporate taxpayers, and employed multiple regression analysis to assess the impact of enforcement mechanisms. Empirical findings reveal a statistically significant positive relationship between coercive strategies and tax compliance. However, descriptive data exposes a deterrence paradox: while coercive measures, particularly public shaming through premises sealing, effectively induce short-term compliance, they simultaneously foster an adversarial business-government climate. An overwhelming 89.2% of taxpayers reported that these tactics strain their relationship with the state, and 48.3% admitted that aggressive enforcement incentivizes creative tax avoidance. Furthermore, KW-IRS staff identified a frequent culture of penalty negotiation, which undermines the perceived consistency of enforcement. The study concludes that while coercion is an efficacious short-term revenue tool, its over-reliance threatens business survival and erodes voluntary tax morale. Consequently, the study recommends a transition toward a responsive regulatory model that balances aggressive prosecution of chronic defaulters with improved taxpayer education and standardized, automated penalty frameworks to ensure long-term fiscal sustainability.

IMPACT OF INTERNET BANKING ON GROWTH, VIABILITY AND PROFITABILITY OF DEPOSIT MONEY BANKS IN NIGERIA

Timothy Adeniyi AJAYI, Emmanuel ELIKPLIM — Thu, 17 Sep 2026 00:00:00 +0000

This study examined the impact of internet banking on the growth, viability and profitability of deposit money banks in Nigeria (A case study of Access Bank Plc). Purposive sampling was employed in order to select Access Bank, a deposit money bank in Nigeria as a case study and descriptive Survey research design was adopted. The study used simple percentages and frequencies to represent and interpret the data collected, Chi - Square (X²) technique was used to run and analyse the data collected from the bank and to test the hypothesis. The result revealed a calculated value of 19.947 for both Automated Teller Machine and Point of Sell is greater than the both critical value of 7.82. That means there is a significant relationship between Automated Teller Machine installed, Point of Sell and profitability of Access Bank. Banks are recommended to make good investment in internet banking services (ATM and POS) to keep pace with the ever-changing business world; more ATM and POS terminals should be strategically installed in different locations for easy access by customers, educating and marketing of internet banking services and products should be intensified to attract more customers, The aforementioned, if properly adhere to will enhance the growth, viability and profitability of the banks.

GOVERNANCE QUALITY AND ECONOMIC GROWTH IN NIGERIA

Eugene Iorwuese KACHINA, Walter O. OGWUOKE, O. Jonathan GIMBA — Thu, 17 Sep 2026 00:00:00 +0000

This study examined the effect of governance quality on economic growth in Nigeria. The study used annual time series data covering the period of 1999 to 2023; Augmented Dickey Fuller (ADF) and Phillips Perron (PP) unit root test was carried out and the result revealed that all the variables were integrated at level I(0) and first difference I(1). Governance quality was proxied on government effectiveness, rule of law, control of corruption, regulatory quality, control of corruption, voice and accountability while gross domestic product growth rate was used as proxy for economic growth. Consequently, the ADF bound test was employed and the result revealed the existence of long-run relationship between governance quality and economic growth. The Auto-Regressive Distributed Lag (ARDL) model was adopted for the study, and it was found that government effectiveness, political stability, rule of law, control of corruption, voice and accountability were statistically insignificant while only regulatory quality had positive and significant effect on growth in Nigeria. The overall finding revealed that governance quality has significant effect on economic growth in Nigeria. The study therefore recommended that; the existing regulatory institutions of the government should be strengthened and given the full authority and independence to design and implement policies that will encourage hard work, sincerity and dedication which will spur productivity and output. More so, appointments into these regulatory agencies should be on merit and not partisanship. This will propel those who are saddled with the responsibility to perform to the best of their ability that will match with the confidence reposed in them.