THE IMPACT OF ACCOUNTING INFORMATION ON THE PERFORMANCE OF FINANCIAL INSTITUTIONS IN NIGERIA CONTEMPORARY BUSINESS ENVIRONMENT

ABSTRACT: The purpose of this research was to investigate the relationship between accounting information and the performance of financial institutions in the contemporary business landscape of Nigeria. The study focused on specific branches of First Bank located in Aba, Abia State, as a representative case study. In order to do this, four distinct study objectives were created. The study utilised a survey methodology and employed simple random sampling techniques. The population under consideration consists of employees working in the finance department of specific branches of First Bank located in Aba, Abia State. The researcher employed a convenience sampling method to determine the sample size, resulting in the selection of 57 respondents. Out of these, 53 responses were obtained, and subsequently, 50 of them were validated. A self-designed and validated questionnaire was employed for the purpose of data collecting. The questionnaires that were gathered and verified were subjected to analysis through the utilisation of frequency tables and percentages. The hypotheses were examined using the chi-square statistical tool. The findings indicate that the use of accounting information as a decision-making tool is deemed satisfactory by management. The results also indicated that accounting information has played a significant role in enhancing the profitability of the organisation. With respect to the findings, the study suggests that it is advisable to employ professional staff who exhibit transparent and honest performance. Additionally, it is recommended that appropriate disciplinary measures be taken against staff members engaged in fraudulent activities. Regular meetings between stakeholders, investors, and other users are essential for supporting the management in the attainment of organisational objectives. The properties of accounting information, including timeliness, clarity, relevance, and accessibility, should serve as guiding principles in the provision of accounting information.