An Outlook of the Nigerian Banking Sector towards Corporate Social Responsibility: A Dyadic Perspective

Abstract

The purpose of this research is to explore the attitudes of Nigerian commercial banks towards the implementation of corporate social responsibility (CSR). It also examined the CSR implementation's effectiveness by collecting bank employees, customers, and general public responses. The researchers collected fifteen bankers' opinions and a total of three hundred samples equally chosen from employees, customers, and the public by administering two separate questionnaires using the stratified random sampling method. The collected data were summarized, coded, and controlled using Software R and Microsoft Excel software packages, while the hypotheses were analyzed using Chi-square significance tests. Seventy-eight percent of Nigerian banks have implemented the social actions related to all the six stakeholders, along with another 20 percent partially implemented. Disappointingly, only 28.43 percent of employees and 38.43 percent of customers were satisfied with the social actions of banks, while 35.8 percent of the general public felt the same way. CSR is philosophically and practically vital to the banking sector and critical stakeholders in Nigeria. The study is a unique one to Nigeria in its perception towards CSR in the banking sector and adds to the body of knowledge about CSR in the academic world.