Appraisal of Corporate Social Responsibility Reporting and Stakeholder Value in Nigerian Banks

Corporate social responsibility reporting has become a strategic communication tool for Nigerian banks seeking to demonstrate social and environmental accountability to diverse stakeholders. This study appraises the quality, completeness, and stakeholder value of corporate social responsibility reporting among deposit money banks in Nigeria for the period 2019 to 2023. A content analysis methodology was employed, examining the sustainability and corporate social responsibility reports of twelve deposit money banks using the Global Reporting Initiative standards as the evaluation framework. Reporting quality was assessed by materiality coverage, quantitative data disclosure, assurance level, and stakeholder inclusiveness. Stakeholder value was measured through a perception survey of 90 analysts, institutional investors, and civil society representatives. Descriptive statistics and weighted ranking analysis were used for assessment. Results revealed that only four of twelve banks produced standalone sustainability reports aligned with Global Reporting Initiative standards, while the remainder included brief corporate social responsibility sections in annual reports. Community development and environmental stewardship were the most frequently reported themes, while supply chain sustainability and employee rights disclosures were the weakest. Institutional investors rated transparency on environmental risk exposure as the highest priority disclosure need. The study concludes that corporate social responsibility reporting quality in Nigerian banks is improving but falls below global standards. Mandatory sustainability reporting aligned with Global Reporting Initiative frameworks is recommended by the Securities and Exchange Commission.

Keywords: corporate social responsibility reporting, stakeholder value, Global Reporting Initiative, sustainability, deposit money banks