Triple Bottom Line Reporting: An Assessment of Sustainability in Banking Industry in Nigeria

Abstract

Triple bottom-line reporting is an emerging issue in accounting profession in Nigeria that aims at assessing and enhancing corporate performance with regards to sustainability. It widens the scope of traditional reporting which emphasises financial profitability. It considers the contributions of a corporate organisation towards the environmental and social sustainability thereby giving more attention to stake holders than shareholders. The primary objective of this study is to investigate whether triple bottom line reporting contributes significantly to sustainability of banking firms in Nigeria. In our analysis of data, the descriptive statistical analysis was used to evaluate the study. 400 questionnaires were administered on the senior and management members of staff in the 22 banks in Nigeria after re-consolidation. The data were analysed using chi-square statistical techniques. Also, annual reports of the 22 banks spanning from 2009-2011 were examined. The findings show that emphasis is still on financial profitability of the banking industry in Nigeria. The study hereby recommends that for sustainability to be enhanced in banking industry in Nigeria, adequate attention should be given to the environmental and social sustainability to complement financial profitability.