Journal of Accounting, Finance, and FinTech Advancements
Journal Title : Journal of Accounting, Finance, and FinTech Advancements Initials : JAFFA Frequency : 4 Issues per year (March, June, September, December) E-ISSN : 3124-3533 Editor in Chief : Dr. Taufiq Noor Rokhman, S.E., Ak., M.M. DOI : 10.70865/jaffa Publisher : CV.Proaksara Global Transeduka Journal of Accounting, Finance, and FinTech Advancements (JAFFA) is an interdisciplinary publication dedicated to original research and and scholarly work in the fields related to accounting, finance, and sustainability. The journal aims to be a platform for academics, practitioners, and policy makers to explore contemporary issues related to accounting systems, financial markets, public sector governance, and technological innovations in finance and investment. JAFFA supports the development of solution-orientated scientific discourse and evidence-based policy implementation, and encourages sustainable innovation in finance and accounting. The scope of our journal includes: Financial Accounting Continuous Accounting Management Accounting Public Sector Accounting Cost Accounting Taxation Accounting Environmental Reporting Capital Markets and Investment Analysis Management Accounting and Budgeting Accounting Information Systems Audit and Insurance Taxation and Fiscal Policy Blockchain and its Applications in Finance Sustainable Finance and Green Investment Public Sector Governance and Accountability Banking and Financial Institutions Digital Economy and FinTech (Financial Technology) Innovation Financial Risk Management Big Data Analytics in Accounting and Finance Financial Regulation and Policy Islamic Finance and Islamic Financial Innovation All manuscripts submitted to JAFFA should be written in English. Submissions undergo a rigorous double-blind peer review process and are published quarterly (March, June, September, December). e-ISSN (online): 3124-3533
Financial Development, Carbon Financing and Carbon Emissions in Sub-Saharan Africa
Financial systems hold a dual position in that they foster economic advancement while simultaneously affecting environmental conditions, a dynamic that underscores the need to scrutinize financial development and carbon finance within the Sub-Saharan African context. This paper sets out to analyze the relationship between these two financial factors and carbon emissions in SSA, pursuing two distinct research objectives: assessing the emissions impact of financial development and determining the emissions effect of carbon financing. The investigation utilizes a panel dataset of seven SSA nations with developing capital markets, covering the years 2000 through 2023 and comprising Côte d’Ivoire, Ghana, Kenya, Mauritius, Namibia, Nigeria, and South Africa. Data originated from the World Bank Development Indicators and the IMF Financial Structure Database. Methodologically, the study applies the pooled mean group estimator based on the ARDL model, with the PCSE technique incorporated to maintain robustness despite potential cross-sectional interdependencies. Results reveal a nuanced scenario: financial depth, measured through liquidity indicators, appears to lower emissions substantially, yet both the expansion of private sector credit and the monetary value of share trading exhibit a pronounced positive association with rising carbon output. Regarding carbon financing, climate investment funds significantly affect emissions, while certified emission reduction units show no significant impact. Manufacturing value added remains the primary source of emissions in the region. The findings suggest that financial deepening can support climate sustainability if financial resources are redirected toward environmentally sustainable sectors through targeted regulations and incentives.
Copyright (c) 2025 Akunoma Onome Omena*, Ogodu Christian Freeman https://creativecommons.org/licenses/by/4.0
Role Clarity and the Accountability Paradox in the Three Lines Model: Evidence from the Indonesian Public Sector
Public institutions in Indonesia have emphasized internal control reform, yet the role of role clarity in strengthening governance effectiveness remains underexplored. This study examines the effect of role clarity on the effectiveness of the Three Lines Model in the Indonesian public sector. The study is motivated by the need to strengthen accountability and clearly allocate responsibilities across operational, oversight, and assurance functions. Although the Three Lines Model is intended to define governance roles, empirical evidence on the contribution of role clarity remains limited.A quantitative explanatory research design was employed. Data were collected through an online questionnaire from employees involved in implementing the Three Lines Model at the Directorate General of State Assets, Ministry of Finance, Indonesia. A total of 172 valid responses were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 4.0.The results show that role clarity does not have a statistically significant effect on the effectiveness of the Three Lines Model. This finding suggests that a clear understanding of formal responsibilities alone is insufficient to improve governance effectiveness in highly formalized public sector organizations. Governance roles may already be institutionalized through regulations and hierarchical control systems, resulting in a standardized understanding of responsibilities among employees.This study contributes to the literature by highlighting that role clarity, while essential for accountability, may not independently enhance governance effectiveness. The findings also offer practical implications by emphasizing that successful implementation of the Three Lines Model requires not only clearly defined roles but also supportive organizational practices and governance mechanisms.
Copyright (c) 2025 Mohammad Suharyadi Aryanto*, Adam Zakaria, Marsellisa Nindito https://creativecommons.org/licenses/by/4.0
The Effect of the Allowance for Impairment Losses (CKPN) and Net Interest Margin (NIM) on Profitability, with Bank Size As a Moderating Variable, in Banks Listed on the Indonesian Stock Exchange (2021-2024)
The degree to which banks generate earnings stands as a consequential barometer of the enduring viability of financial intermediation and the robustness of the monetary ecosystem as a whole. Among Indonesian depository institutions, a discernible upswing in profitability has been charted in the post-pandemic era, corroborated by a successive appreciation in Return on Assets (ROA) throughout 2021 to 2024. Notwithstanding this affirmative trajectory, the governance of credit deterioration and the calibration of net interest revenue remain persistent impediments confronting the industry. Accordingly, this inquiry is undertaken to scrutinize the extent to which the Allowance for Impairment Losses (CKPN) and Net Interest Margin (NIM) exert bearing upon ROA, with a concomitant examination of whether institutional magnitude functions as a moderating variable within these nexuses, as observed across bourseenlisted banking entities in Indonesia spanning the quadrennial interval of 2021 through 2024. Secondary data culled from the annual and financial disclosures of banking institutions constitute the empirical bedrock of this inquiry. Panel data regression serves as the principal analytical apparatus, encompassing descriptive statistics, model adjudication protocols, namely the Chow and Hausman tests, and classical assumption diagnostics. Empirical evidence reveals that CKPN and NIM each exert a discernible bearing upon ROA. Of particular salience is the moderating comportment of institutional magnitude, which attenuates the influence of CKPN on ROA whilst concurrently amplifying that of NIM. These revelations underscore the imperativeness of judiciously equilibrating risk-contingent provisioning directives and interest margin stewardship, with due cognizance of bank scale, in perpetuating sustainable profitability.
Copyright (c) 2026 Evriansyah Evriansyah*, I Gusti Ketut Agung Ulupui, Ayatulloh Michael Musyaffi https://creativecommons.org/licenses/by/4.0
Impact of Internal Audit on Income Tax in Nigeria: Evidence from Anambra State Board of Internal Revenue
Effective tax management is crucial for strengthening internally generated revenue, vital for economic growth and development; yet, tax agencies groan under myriads of challenges associated with systemic leakages, non-compliance, and loose internal controls. The research consequently investigated the relationship between internal audit functions and income tax, with evidence gathered from the Anambra State Board of Internal Revenue. It concentrated on evaluating the influence exerted by internal audit competence, internal audit independence, and the level of management support on the administration of income tax. The study adopted a survey research design, which enabled the collection of data through structured questionnaires distributed to selected board members. The hypotheses were analyzed using linear multiple regression. Results show that audit competence and audit independence have a detrimental impact on income tax performance. This implies that while auditors’ skills are necessary for identifying errors, those skills have failed to increase tax outcomes. Furthermore, it also showed that management support had no significant influence on income tax performance. This discovery signifies that managerial support, being a facilitator in internal audit functions, has zero claim on improved tax results. Based on these findings, the study advocated for the allocation of resources for the training of internal auditors in identifying revenue losses effectively. Lastly, auditor independence should be strengthened so as to enhance effective tax administration.
Copyright (c) 2025 Nneka Maureen Okeke* https://creativecommons.org/licenses/by/4.0
Design of an Internal Control System Evaluation Instrument Based on the COSO Framework: A Study of State Owned Insurance
The growing complexity of governance and regulatory demands in state-owned enterprises necessitates robust and measurable internal control systems to ensure accountability and long-term sustainability. This study aims to design a comprehensive internal control system evaluation instrument based on the COSO Internal Control–Integrated Framework (2013) to support governance effectiveness and organizational sustainability in state-owned social insurance enterprises. Despite regulatory requirements mandating periodic internal control evaluations, many state-owned enterprises still lack standardized and measurable evaluation tools, resulting in fragmented and partial assessments. Addressing this gap, this research develops a COSO-based evaluation instrument integrated with national governance regulations and risk maturity principles. Using a project-based research design, data were collected through triangulation methods, including interviews, observations, documentation analysis, and questionnaires involving internal auditors and employees across head office and branch units. The instrument was constructed based on five COSO components, seventeen principles, and eighty points of focus, supported by a structured scoring system to assess both the existence (present) and effectiveness (function) of internal controls. This study contributes to the literature on internal control and sustainability governance by providing a replicable and context-sensitive evaluation framework for public sector and social insurance organizations in emerging economies. Practically, the proposed instrument offers internal auditors and regulators a structured tool to enhance accountability, risk management, and long-term organizational sustainability.
Copyright (c) 2026 Ari Permana*, Adam Zakaria, Ayatullah Michael Musyaffi https://creativecommons.org/licenses/by/4.0
Analyzing the Impact of Financial Resources Management on Organizational Performance of Nigerian Manufacturing Sector
The Nigerian manufacturing sector, despite its critical role in driving economic growth and development, continues to face persistent challenges including poor infrastructure and financial mismanagement that have contributed to its subpar performance and low employment contribution. This study explores the impact of financial resources management on organizational performance in Nigeria’s manufacturing sector, guided by the Resource-Based View (RBV) theory. Employing a qualitative research approach, secondary data was collected from reputable sources, including academic journals, industry reports, and government publications. Thematic analysis revealed that effective financial resource management is crucial for organizational performance, with key areas driving financial success including working capital management, capital structure management, and good governance. Research highlights the importance of balancing short-term assets and liabilities, managing cash flow, and optimizing funding to boost performance. Good governance promotes transparency, accountability, and effective management, positively impacting firm performance. The study concludes that adopting robust financial management strategies can enhance organizational performance, resilience, and investment capacity, ultimately driving business success and sustainability. The findings provide insights for Nigerian manufacturing firms to strengthen their financials, improve competitiveness, and build a sustainable future.
Copyright (c) 2026 Maxwell Smith Ogbotor* https://creativecommons.org/licenses/by/4.0
Performance Audit Evaluation in the Implementation of Good Governance in Judicial Institutions (A Case Study of the Constitutional Court)
This study aims to analyze the quality of performance audit, implementation of performance audit recommendations, and formulate an ideal concept of performance audit planning in order to strengthen the application of good governance principles at the Constitutional Court of the Republic of Indonesia. Motivated by the importance of performance audit as an instrument of supervision and enhancement of accountability of judicial institutions, particularly in constitutional case services. The research method used is a qualitative approach with a case study design. The unit of analysis in this study is the Constitutional Court of the Republic of Indonesia, with a focus on the Bureau of Law and Administration of the Registrar's Office as the unit that carries out the function of constitutional case services. Research data were obtained through in-depth interviews, documentation studies, and observation. Data analysis techniques were conducted using thematic analysis through the process of data reduction, data presentation, and drawing conclusions, and tested for validity using source and method triangulation. The study finds that while the Constitutional Court's performance audits meet established standards and yield relevant good governance recommendations, their implementation remains suboptimal. Specifically, follow-up actions, monitoring of internal evaluations, and the reinforcement of the internal supervisory apparatus require improvement. In response, the research formulates an ideal audit planning concept that is integrated, risk-based, and focused on the core constitutional case service process. These outcomes are expected to advance public sector audit scholarship and offer practical guidance for the Court to enhance its governance and service quality.
Copyright (c) 2026 Maria Ulfah Kusuma Astuti* https://creativecommons.org/licenses/by/4.0
The Determinants of Financial Distress in the Pre Covid-19 Era in Nigeria
The research investigated the factors influencing financial trouble in Nigeria before the outbreak of COVID-19. The main focus of the study was on financial instability, which was measured using the Altman Z-score. Various factors contributing to financial distress, such as profitability, loan loss provision, liquidity ratio, asset quality, and capital adequacy ratio, were taken into consideration as explanatory variables. Data from the Central Bank of Nigeria's statistical bulletin and the Nigerian Deposit Insurance Corporation's annual report from the years 1992 to 2022 were collected for analysis. The data was then examined using various techniques such as descriptive analysis, correlation analysis, and granger causality test. The E-view software package was utilized to assess the relationship between the explanatory and explained variables in the study. The result shows that profitability (ROCE), loan loss provision (LLP) and liquidity ratio (LIR) are negatively correlated with Altman Z-score and that such relationship is moderate and Asset quality ratio (ASQ) and Capital adequacy (CAR) are positively correlated with Altman Z-score. The study recommended that beyond thinking of profitability, the bank should imbibe efficient and effective management team that will reduce the environmental shocks that affects performance of the Nigerian banking industry. Furthermore, there is need for regulators of the Nigerian banking industry to reexamine the rising of non-performing loans (NPL) occasioned by inability of the deficit economic unit to service their loans.
Copyright (c) 2025 Endurance Omovigho Eyamu*, Felicia Ogheneotegiri Eyamu, Efemena Otejiri Oliogu https://creativecommons.org/licenses/by/4.0
Financing Mix Decision and Firm Performance Optimality: Evidence from the Nigerian Oil and Gas Industry
This study examined the effect of financing mix decision on firm performance optimality with evidence from the Nigerian oil and gas industry from 2014 to 2023. The study decomposed financing mix decisions into Debt-to-equity Ratio (DER), Debt Ratio (DTR), Capitalization Ratio (CAR), and Interest Coverage Ratio (ICR). These formed the independent variables. The dependent variable is financial performance operationalized as return on equity (ROE). The study adopted the ex-post facto design because it facilitates the investigation of how regressors, prior to the study, affect regressed. The study population is confined to the 9 listed sampled firms in the Nigerian exchange group as at 31st December, 2024. The Robust Least Square estimation technique was used to test the research hypothesis. The study confirmed that Debt-to-equity Ratio (DER), Debt Ratio (DTR), and Interest Coverage Ratio (ICR) have positive significant effect on firm performance optimality while Capitalization Ratio (CAR) has a negative significant effect on firm performance optimality. The study concludes that equity and debt optimality enhances profitability. Overall, the study emphasized the need for an optimal financial structure in enhancing firm profitability. Hence, the paper submits that the sampled firms need to balance debt financing to tax benefits while minimizing financial distress risks. This study provides empirical evidence on the optimal mix of equity and debt financing for enhanced firm profitability.
Copyright (c) 2025 ThankGod Eseimieghan*, Anastasia Chi-Chi Onuorah https://creativecommons.org/licenses/by/4.0
Internal and External Factors Affecting Profitability in Private Banking for the Period 2019-2023
This research investigates how both internal and external elements impact the financial success of private banks that are publicly traded on the Indonesia Stock Exchange from 2019 to 2023. Factors within the banks such as Capital Adequacy Ratio (CAR) and Non-Performing Loans (NPL) will be analysed, along with external factors like inflation and the benchmark interest rate (BI Rate). Return on Assets (ROA) is a key indicator of banks' efficiency in terms of using their assets to make a profit. In this study, panel data regression analysis was used to analyse data from official financial reports. The results show that Capital Adequacy Ratio (CAR) has a positive impact on ROA, while Non-Performing Loans (NPL) have a negative impact. Interestingly, factors like inflation and the Bank Indonesia (BI) Rate do not seem to have a significant effect on ROA. This research distinguishes itself by focusing on how these variables interact within the unique environment of private banking in Indonesia. The study proposes various strategies to improve profitability, including better management of credit risks and capital adequacy.
Copyright (c) 2025 Lailatus Sa'adah*, Putri Marsella Zalianti https://creativecommons.org/licenses/by/4.0
Implementation of Baitul Maal Wat Tamkwil (BMT) in Efforts to Get Economic Growth in Indonesia
This study is intended to explain the implementation of baitul maal tamwil (BMT) in efforts for economic growth in Indonesia. This study adopts a library research methodology. Library research involves gathering information and data using a variety of materials available in libraries such as documents, books, magazines, and historical accounts. Baitul Maal wat Tamwil (BMT) is a self-sustaining business that follows the principles of Bayt Al-Maal Wa At-Tamwil by executing strategies to enhance productive business ventures and investments to uplift the quality of small and medium enterprises through promoting savings and boosting financing in their economic pursuits. BMT can be formulated as a Community Self-Help Group (KSM) or a cooperative. When established within a KSM structure, BMT will be granted operational certification by the Small Business Incubation Center (PINBUK), endorsed by Bank Indonesia (BI) as the primary non-governmental organization overseeing KSM implementation as outlined in Law no. 17 of 2013 regarding Community Organizations.
Implementation of Baitul Maal Tamwil (BMT)
Copyright (c) 2025 Husin Maulana*, Efriansyah https://creativecommons.org/licenses/by/4.0
Analysis of the Role of Increasing Financial Inclusion Through Digital Transformation on the Stability of the Financial System in Indonesia
The increase in financial inclusion in a country can affect the stability of financial system because it can maintain the stability of banking operations and reduce inequality in financial access in society. The increase in financial access caused by the emergence of digital financial products, such as transaction systems using e-money and QRIS financial transactions, has succeeded in reducing inequality in access to financial services in society. The advantages provided by digital transactions have disadvantages, namely regarding the guarantee and security of digital financial transactions which do not yet have regulations from the government. Hence, it is imperative to conduct a more thorough examination of how the expansion of financial products via digital transactions impacts the stability of Indonesia's financial system. The approach utilised in this research is the Autoregressive Distributed Lag (ARDL) methodology utilising data from the years 2021 to 2023. The factors assessed in this study encompass e-money and QRIS, alongside supplementary variables such as online loans, credit cards, and debit cards. Furthermore, a key variable under consideration is the Non Performing Loan (NPL) which serves as a gauge for financial system stability. The study results revealed that debit cards do not greatly impact the stability of the financial system, whether in the short or long run. Conversely, credit cards have a notable positive influence on financial system stability in the short term but do not have a lasting impact. On the contrary, e-money is found to have a considerable detrimental impact on financial system stability, both in the short term and long term. Similarly, QRIS is shown to have a significant positive effect on financial system stability in the short term but lacks significance in the long run. Online loans, on the other hand, have a substantial negative impact on financial system stability in the short term but are not significant in the long run.
Copyright (c) 2025 Eva Nur Kumalasari, Putu Aditya Pratama https://creativecommons.org/licenses/by/4.0
Intellectual Capital Efficiency Management Effect on Cost of Equity Capital
This study looked at how managing intellectual capital affects the cost of equity capital in conglomerate firms in Nigeria that are listed on the stock exchange. It used a detailed dataset from 2013 to 2022. Following the Modigliani and Miller theoretical framework, the research explored how human capital efficiency and capital employed efficiency influence the cost of equity capital. To meet the goals of the study, an ex-post facto research design was chosen for its cost-effectiveness and the reliability of historical data in evaluating past events. The developed hypotheses were tested using a random effect regression analysis method, which helps reduce biases and improve the strength and trustworthiness of the findings. The results suggest that the efficiency of human capital does not have a notable impact on the cost of equity capital, whereas the efficiency of capital employed shows a significant negative effect on equity costs. The result underscores the importance of optimizing capital utilization within Nigeria's conglomerate sector. In line with these findings, the study suggests strategic measures to improve capital efficiency, including policies to promote effective capital management and incentives to support resource optimization practices. Additionally, based on the limited impact of human capital investments on reducing equity costs, this study recommends that managers of listed conglomerate firms in Nigeria should not prioritize such investments solely to fix equity costs.
Copyright (c) 2025 Victor Fegor Origho*, Prince Famous Izedonmi https://creativecommons.org/licenses/by/4.0
An Examination of the Relationship Between Firm Characteristics and Financial Reporting Quality
This research delves into how the qualities of companies are connected to the accuracy of financial reporting in consumer goods companies in Nigeria that are publicly traded. By using data from financial documents from 12 consumer goods companies in Nigeria from years 2014 to 2023, the study looked at three different aspects of companies (firm size, board makeup, and profitability) to see how they relate to the quality of financial reporting. The accuracy of financial reporting was assessed in the research using the Modified Jones Model. The data was examined using a combination of basic statistics, tests for issues, and advanced statistics. The research established a straight line pattern which was evaluated using a basic analysis of regression. It was discovered that the makeup of a board greatly affects how well consumer goods companies report their finances in Nigeria. Conversely, the size and profitability of a company do not have much impact on the quality of financial reporting for consumer goods companies in Nigeria. The results showed that when taken together, the various characteristics of companies studied in this research are significantly linked to the quality of financial reporting for public consumer goods companies in Nigeria. Based on these findings, the research recommended that businesses should work on setting up strong internal controls, reliable reporting channels, and appropriate structures for governance to deal with the negative consequences of these factors.
Copyright (c) 2025 Okei Bukky Peace* https://creativecommons.org/licenses/by/4.0
Effect of Understanding of Tax Regulations and Quality of Tax Services on Taxpayer Compliance (Study on Ternate KPP)
Income Tax Article 25 refers to the payment of income tax in installments, with the aim of easing the financial burden on taxpayers, considering that the tax payable must be settled within one fiscal year. This paper serves as a foundation for understanding tax regulations applicable to taxpayers, particularly in relation to compliance with Corporate Income Tax (PPh Article 25). The research was conducted at the Ternate KPP Pratama. This study uses primary data obtained from individual or corporate taxpayers engaged in business activities subject to PPh Article 25, which requires monthly installment payments of income tax during the current tax year. The test results show that understanding of tax regulations has a positive and significant effect on taxpayer compliance. The greater the taxpayer’s understanding of applicable tax regulations, the higher their level of compliance in fulfilling tax obligations. The research findings indicate that a strong grasp of tax regulations can significantly enhance taxpayer compliance. Conversely, limited understanding may hinder the effective enforcement of compliance. Therefore, the higher the level of understanding taxpayers have of the applicable tax regulations, the less likely they are to violate them, thereby promoting greater compliance. Additionally, the quality of taxation services also has a positive and significant impact on taxpayer compliance. The better the quality of these services, the more likely taxpayers are to comply with their obligations. Improved tax service quality leads to increased trust and satisfaction among taxpayers, ultimately encouraging better compliance with tax regulations.
Copyright (c) 2025 Astry Muningsih* https://creativecommons.org/licenses/by/4.0
Corporate Social Responsibility (CSR) and Accounting Conservatism: The Moderating Role of Firm Performance
CSR and accounting conservatism represent two significant pillars of modern corporate governance, yet reconciling these concepts often presents challenges for firms. Thus, CSR emphasizes ethical behavior, social equity, and environmental sustainability, ensuring that businesses contribute meaningfully to society while accounting conservatism encourages cautious financial reporting by recognizing potential losses earlier than gains, ultimately protecting stakeholders from overstatements. This study was initially based on non-financial firms listed in the Nigerian Exchange Group (NGX). The CSR data were collected from the from the annual financial statement of selected firms of non-financial firm with available financial report over the period 2014-2024. The non-financial firms sampled in the study were 75 firms listed in the NGX, 1164 firm-year observations between 2014 and 2024. The finding of the study revealed that higher CSR scores are associated with increased accounting conservatism while ROA, CSR exhibits a positive impact on firm performance. The study concluded that CSR is significantly and positively associated with accounting conservatism. The study results suggest that firms with higher CSR performance adopt more cautious financial reporting practices, showcasing a clear alignment between social responsibility and conservative accounting.
Copyright (c) 2025 Sunny Oteteya Temile, Ajueyitse Martins Otuedon, Ochuko Joy Edheku, Augustine Akpojevwa Okwoma, Samuel Ejiro Uwhejevwe-Togbolo https://creativecommons.org/licenses/by/4.0
Financial Institutions’ Regulation, Banking Sector Competitiveness and Stability of the Banking Sector in Nigeria
The paper examined the effect of financial institutions’ regulation, banking sector competitiveness and stability of the banking sector in Nigeria from 1996 to 2021. The study disaggregated financial institution’s regulation into capital adequacy ratio, liquidity, and private sector credits, while the banking sector competitiveness was measured by Lerner Index. More so, stability of the banking sector was measured by Z-Score. The study embraced the Ex post facto research design. Data were collected for the twenty-one (21) DMBs from 1996 to 2021. Data were sourced from CBN statistical bulletin, CBN financial stability report and World Bank database, 2021. The Robust Least Square Estimation Technique was adopted. The regression estimate clearly revealed that, liquidity ratio, Capital Adequacy Ratio, and banking sector competitiveness have high contributive effect on the stability of Nigerian banks but private sector credits exposed banks to high incidence of bank instability. Hence, the paper concludes that, financial institution’s regulations, banking sector’s competitiveness are perquisite for the financial stability of banks in Nigeria within the reviewed periods. As such, the Apex bank should ensure that all the Nigerian banks should sustain the current minimum CAR of 15%. Lastly, Nigerian banks are encouraged to invest in income remunerative ventures as this have a high contributive effect on their financial stability.
Copyright (c) 2025 Andrew EO Erhijakpor*, Felicia Ogheneotegiri Eyamu https://creativecommons.org/licenses/by/4.0