Survey on the adequacy and effectiveness of regulations on corporate social responsibility and social reporting: Evidence from the Nigerian telecommunication industry

Abstract

In Nigeria, corporate social responsibility (CSR) is a front burner issue among diverse stakeholders including the regulators. Despite the growing awareness about CSR, the compliance level and intensity of social reporting (SR) have been described as inadequate and ineffective. In order to affirm or refute these presumptions, this paper examines the adequacy and effectiveness of extant regulations on CRS and SR in the Nigerian telecommunication industry. The paper employs the quantitative research method. The required data were sourced by questionnaire instrument from a sample size of 384 respondents in selected locations in Lagos using a purposive sampling technique. The generated data were analysed using descriptive and Friedman Rank Statistics. The findings from this study indicate that Nigeria has enough laws on CSR and SR, as well as adequate regulatory agencies, but these regulatory agencies are fairly effective. The paper concludes that extant regulations on CSR and SR need to be effectively enforced to safeguard the wellbeing of all diverse stakeholders of telecommunication companies in Nigeria at large.

Keywords: Corporate social responsibility, regulations, social reporting, Nigeria telecommunication industry.