CSR AND ITS CREDIBILITY AMONG LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

The banking industry has been plagued by scandals and crises leading to a trust deficit and reputational damage. Therefore, this study analysed the credibility of Corporate Social Responsibility (CSR) practices and reports in the Nigerian banking industry over the period of 2020-2024 using a carefully constructed CSR credibility Index (CSRCI) to assess the level of transparency, corporate governance, stakeholder involvement, external assurance and compliance with reporting standards. 12 listed deposit money banks with complete dataset were selected out of 14 as the study’s sample. The study employs descriptive statistics to analysis the trend of CSR credibility among the banks. The trend analysis showed that CSR disclosure ranges between 41-50% which suggest a gradual improvement in the country’s CSR landscape. Based on the outcome the study banks are advised to strengthen their CSR credibility by engaging stakeholders and conducting credibility audits to make their CSR transparent and impactful.