No abstract

Islamic banking is based on the principles of islamic law as well as its practical application through the development of islamic economics. Islamic law prohibits 'usury', i.e collection and payment of interest on deposits. The recent global economic and financial crisis has exposed the deficiencies in the conventional banking system due to effect of interest rate. This calls for the development of islamic banking as a viable alternative to save millions of the citizens from abject poverty. This study sought to find out the emergence and significance of islamic banking as a panacea to Nigerian economic instability. It is in pursuance of this that made the researcher to take a critical look at the concept of islamic banking, history of the critique of usury, rationale for interest rate abolition, modern application of usury prohibition as well as terminologies in islamic banking and likely benefits of islamic banking on Nigerian economy. Hypotheses were formulated to guide the study and the data collected analysed with the aid of chi-square, it was thereby inferred that there exists a significant effect of the emergence of islamic banking in resolving economic instability in Nigeria.

Bank's asset quality deteriorates when banks are exposed to high non-performing loans and associated credit risks. Sustainability reporting deepens the acceptability and understanding of huge opportunities and enhances the corporate competitive advantage of the banks in enhancing banks’ assets quality. This study investigated the effect of sustainability reporting on the assets quality of listed deposit money banks (DMBs) in Ghana, Kenya and Nigeria. The study explored secondary data, using a population of 95 listed DMBs, while a sample size of 31 DMBs was purposively selected for a period of 12 years. Data were extracted from the annual financial records of the banks and sustainability reporting checklist in line with the Global Reporting Initiative. The validity and reliability of the data were premised on the statutory audit of the financial statements. Descriptive and inferential (multiple regression) statistics were used to analyze the data at a 5% significant level. The study found that sustainability reporting significantly affected the assets quality of the listed deposit money banks in Ghana, Kenya and Nigeria (Adj R2 = 0.47, Wald-test (4, 367) = 342.18, p < 0.05). Based on the finding, the study recommended managers of the banks should exhibit high professional competence, and exercise managerial expertise and ethical practices in compliance with sustainability reporting best corporate best practices capable of enhancing the assets quality of the banks.

Meeting capital requirements for adequate banking services has become a complex issue. Prior studies had advanced that effective sustainability reporting influences corporate performance and banks’ capital adequacy. Consequently, this study empirically examined how sustainability reporting affected capital adequacy. This study was inspired by the importance of sustainability reporting in improving corporate performance and deposit money banks' (DMBs') capital adequacy. The study used an expo facto research design and a sustainability reporting checklist of the Global Reporting Initiative for 12 years from 20 to 2021. Secondary data were extracted from the annual financial statements of the DMBs listed in Ghana, Kenya, and Nigeria. 95 DMBs made up the research population, and 35 banks were chosen for the study using a purposive sample strategy. The result of the analysis demonstrated that sustainability reporting exerted a positive significant effect on the capital adequacy of the listed DMBs in Ghana, Kenya and Nigeria adequacy (Adj R2 = 0.91, Wald-test (4, 367) = 3958.9, p < 0.05). The study recommended that the management of the banks should ensure the effective implementation of sustainability reporting regulations and compliance in order to increase corporate legitimacy and banks' capital adequacy.