ISSN 2360-7963
Abstract
This study investigates the influence of ownership structure on transparency in the Nigerian banking sector, focusing on First Bank of Nigeria and Access Bank Plc. Using a descriptive survey design, data were gathered from 154 governance stakeholders—comprising board members, auditors, regulators, and institutional investors—via structured questionnaires, augmented by secondary data from annual reports and regulatory guidelines. Data analysis combined descriptive statistics with inferential tests. The results indicate that concentrated ownership by insiders, families, government, and block shareholders reduces transparency in disclosures and encourages earnings management, whereas dispersed, institutional, and foreign ownership significantly enhance compliance with International Financial Reporting Standards (IFRS), timely disclosures, board independence, and stakeholder confidence. A comparative t-test revealed no statistically significant difference in the effect of ownership concentration between First Bank (M = 3.98) and Access Bank (M = 3.85), t(152) = 1.72, p = 0.09. However, institutional and foreign ownership produced a statistically significant difference in governance effectiveness, with First Bank (M = 4.07) outperforming Access Bank (M = 4.03), t(152) = 2.36, p = 0.02. The study concludes that ownership structure is a decisive determinant of transparency in Nigerian banks. It recommends governance reforms to reduce ownership concentration and promote institutional and foreign participation to improve disclosure quality, investor trust, and long-term sectoral stability.
Keywords: Ownership structure, transparency, Nigerian banks, t-test, corporate governance, institutional ownership, foreign ownership.