Effect of Corporate Governance Mechanisms on Voluntary Disclosure of Deposit Money Banks in Nigeria

This study examined the effect of corporate governance mechanism and voluntary disclosure of deposit money banks listed on the Nigerian Exchange Group. The specific objectives were to examine the effect of board composition, board size and audit committee independence on the voluntary disclosure of Deposit Money banks listed on the Nigerian Exchange Group. 12 deposit money banks were purposively sampled from the population of 14 using the period of 2014-2023. Data were collected from the annual reports of the sampled companies and analysed using multiple regression. It was found out that board size and audit committee independence, had significant effects on the voluntary disclosure of the banks examined. However, board composition had non-significant effect on the voluntary disclosure of the banks. It was concluded that changes in the voluntary disclosure of the banks is a result of the changes in the corporate governance mechanisms. It was generally recommended that banks should continue to review and adapt corporate governance mechanisms that will continue to improve the voluntary disclosure practices of the companies.