CORPORATE SOCIAL RESPONSIBILITY PRACTICES OF BANKS IN NIGERIA
ABSTRACT
This study examined corporate social responsibility practice of banks in Nigeria. In light of the empirical review and other discussions, a number of questions arose as to whether leverage exerts a positive influence on bank’s decision to be socially responsible; if profitability exerts a positive influence on bank’s decision to be socially responsible; as well as to examine if company size influence the decision of banks to be socially responsible. Using the Ordinary Least Square (OLS) regression technique, the empirical findings revealed among other things that, profitability and company’s size exerts a positive influence of banks to be socially responsible while leverage does not exert a positive influence on bank’s decision to be socially responsible. We recommend among other things that, firms should always exercise their social responsibilities especially to the host communities, environments, employees to other stakeholders that are entitled to benefit from it. Corporate social responsibility should be a task that every corporate organization must fulfill.
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
Background of the Study             
Statement of the Research Problem             
Objectives of the Study                     
Hypotheses of the Study                     
Scope of the Study                         
Significance of Study                         
Limitations of the Study                     
References                             
CHAPTER TWO: LITERATURE REVIEW
Introduction                         
Definition of Corporate Social Responsibility         
Role of Banks in Corporate Social Responsibility (CSR)     
Principles of Corporate Social Responsibility        
Problems of Corporate Social Responsibility        
Prospect of Corporate Social Responsibility        
Corporate Social Responsibility in Banks        
References                            
CHAPTER THREE: METHODOLOGY
Introduction                             
Research Design                         
The Population and Sample Size                     
Sources of Data                            
Model Specification                         
Data Analysis                            
References                             
CHAPTER FOUR: DATA PRESENTATION AND INTERPRETATION
4.1    Introduction                             
4.2    Data Analysis and Interpretation                
4.3    Test of Hypothesis                         
CHAPTER FIVE:    SUMMARY OF FINDINGS, RECOMMENDATIONS AND CONCLUSION
5.1    Introduction                             
5.2    Summary of Finding                        
5.3    Recommendations                            
Conclusion                                
Bibliography                    
Appendix                                 
CHAPTER ONE
 INTRODUCTION
BACKGROUND OF THE STUDY
The Banking System is very important for any nation because it is the pivot of socio-economic development of any economy. They have active developmental roles to play in the economy such as mobilizing fund from the surplus to the deficit spending units. The design of the Nigerian Banking System is geared towards great impact on the Nigerian economy. As crucial as the banking system is to the Nigerian economy, reforms that take place in the system also dovetail to among other things the impact of the Nigerian economy. Example of this is the implementation of the twenty five billion minimum capital base for banks, which reduced banks to twenty five in 2006. This was the outcome of the first phase of the most extensive and intensive banking reforms in post independence Nigeria (Achua, 2008).
According to Soludo (2004), strengthening and consolidating the banking system will constitute the first phase of the reform  designed to ensure a diversified, strong and reliable banking sector which will ensure the safety of depositors money, play active developmental roles in the Nigerian economy, and be competent and competitive players in the African regional and global financial system. The goal of the reforms is to help banks become strong players, and in a manner that will ensure longevity and hence higher returns to …shareholders over time and greater impacts on the Nigerian economy.
The Central Bank of Nigeria (CBN) governor’s statement above increased the awareness and demand of the Nigerian public about the social and environmental performance of banks hence making corporate social responsibility a thing of continuous quest. This could be that the business of banking is too important and sensitive to be left to bankers alone; the business strives only on public trust and confidence.
Corporate Social Responsibility (CSR) is one among other things which can help banks earn trust, reputation and confidence of stakeholders. CSR is what an organization does to contribute to the social, economic, political or educational development of the community where it is located, but which  it is not compelled to do by any law (Adebayo, 1998).
According to Achua (2008) banks need to be socially responsible to be able to build their “reputational capital” which enables them to attract high–quality employees, enable them to charge higher fees, negotiate better deals, expand customer base, attract more investors and win public trust. The Nigerian economy is a stakeholder in the Banking system since it is considered to be the “community” or “Environment” where the banks exist. There is an increasing demand by stakeholders for clear and hard facts about social and   environmental performance of banks thereby making CSR an issue to be emphasized.  Banks could be seen to be responsible if they can figure out key areas that will help develop the Nigeria economy.   
STATEMENT OF THE RESEARCH PROBLEM
Banks and organizations operating in Nigeria are often accused of not being socially responsible to their host communities and the public in general. Thus, this study is geared towards taking a critical look at banks operating in Nigeria, their level of social responsiveness and the impact which they have on the socio-economic development of the country. This study will look into the activities that culminate in the social responsibilities of banks in Nigeria.
The following are research questions:
Does leverage exerts a positive influence on bank’s decision to be socially responsible?
Does profitability exerts a positive influence on bank’s decision to be socially responsible?
Does company size influence the decision of banks to be socially responsible?
 OBJECTIVES OF THE STUDY
The main objective of this study is to ascertain the level of corporate social responsibility practices of banks in Nigeria.
Other objectives are:
To find out whether leverage exerts a positive influence on bank’s decision to be socially responsible.
To examine whether profitability exerts a positive influence on bank’s decision to be socially responsible.
To ascertain whether company size influence the decision of banks to be socially responsible.
HYPOTHESES OF THE STUDY
This study has the following hypotheses.
Hypothesis I
Ho:    Leverage does not exert a positive influence on bank’s decision to be socially responsible.
H1:    Leverage exerts a positive influence on bank’s decision to be socially responsible.
Hypothesis II
Ho:    Profitability does not exert a positive influence on bank’s decision to be socially responsible.
H1:    Profitability exerts a positive influence on bank’s decision to be socially responsible.
Hypothesis III
Ho:    Company size does not exert a positive influence on bank’s decision to be socially responsible.
H1:    Company size exerts a positive influence on bank’s decision to be socially responsible.
SCOPE OF THE STUDY
This research work is an empirical study to investigate corporate social responsibility practices of banks in Nigeria.
The population of the study consists of all the banks quoted in the Nigeria Stock Exchange, while five (5) banks are randomly selected as the sample size.
The time frame of this study is five (5) years i.e. (2006 – 2010).
Geographically, the study will be conducted in Benin City, Edo State.
 SIGNIFICANCE OF STUDY
It is expected that this study would consolidate existing literature on the issues surrounding corporate social responsibility practices of banks in Nigeria. The study would also facilitate the examination of the effects of corporate social responsibility practices of banks in Nigeria and thus boosting the empirical evidence from Nigeria. Furthermore, given the empirical nature of the study, the outcome of this study would aid policy makers and regulatory bodies in economic modeling and policy simulation with respect to the selected variables examined in the study.
The result of the study would be of benefits to investment analysts, investors and corporations in examining the effectiveness of the corporate social responsibility practices on banks.  It will also be useful in stimulating public discourse given the dearth of empirical researches in this area from emerging economies like Nigeria. Finally, it would also add to the available literature on the area of study while also providing a platform for other researchers who may want to further this study.   
 LIMITATIONS OF THE STUDY
There is always a challenge of ascertaining the level of data accuracy especially with regards to time-series data. The study considers this a limitation.
Other limitations are:
Smallness of sample size: It is interesting to emphasize that the findings of this empirical research are not to be generalize for all industry, since our limited to a number of companies.
The ability of obtain a completely random sample.
Imprecise measurement of variables.
REFERENCES
Achua, J. K. (2008), Corporate Social Responsibility in Nigerian Banking System, Society and Business Review, Vol. 3, No. 1, Emerald Group Publishing Limited.
Adebayo, A. (1998), Public Relations in Banking: The Strategic Imperative in the Nigerian Banking Sector, Paper Presented to the Annual Bankers Forum, NICON Hilton, Abuja, 6-8 May.
Soludo, C. C (2004), Consolidation and Strengthening the Banking Sector, Address delivered by CBN Governor at the Meeting of Bankers Committee held on July, 6th 2004.

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