Financial Inclusion and Stakeholders Value: Employees and Management Staff, Customers, Creditors and Depositors in Deposit Money Banks in Nigeria

Abstract

Stakeholders' value maximization involves taking into consideration the needs, interests and value of stakeholders in any organization with utmost and high priority at all times. Value maximization objective of stakeholders is a major concern of deposit money banks (DMB) because failure to actualize it can threaten their going concern. Deposit money banks have adopted financial inclusion in recent time to maximize the value of its stakeholders but many of these stakeholders are yet to obtain full value for their investment. This study investigated the effect of financial inclusion on stakeholders' value in deposit money banks in Nigeria. Ex-post facto research design was employed in the study. The population of the study consisted of 16 Deposit money banks quoted in Nigerian Stock Exchange (NSE) as at December 2020. Judgmental and purposive sampling technique was used in selecting a sample of 10 banks. The validity and reliability were premised on the statutory audit of the financial statements of the banks. Descriptive and Inferential (Multiple regression) statistics were also employed in analyzing the data. The study found that financial inclusion had significant effect on employees and management staff value in deposit money banks = 0.58, F (5, 94) = 37.55, p< 0.05).Also financial inclusion exerted significant effect on customers, creditors and depositors value in deposit money banks in Nigeria (Adj.R² = 0.7315, F (5, 94) = 54.95, p< 0.05).The study concluded that financial inclusion affect stakeholders' value in deposit money banks in Nigeria. The study recommended that deposit money banks management should improve on their employees' remunerations and training; they should intensify effort in giving loan and advances to customers and also ensure their customers are using digital banking to transact businesses.