Abstract

This study investigates the determinants of ethical banking practices in Nigeria, with specific focus on the roles of regulatory quality, corporate governance, stakeholder pressure, and corporate social responsibility. Drawing on agency theory, stakeholder theory, institutional theory, and CSR theory, the study adopts a quantitative research design and utilizes primary data collected through structured questionnaires administered to 240 respondents across 12 selected Deposit money banks. The data were analyzed using descriptive statistics, correlation analysis, and multiple linear regression. The findings reveal that corporate governance, stakeholder pressure, and corporate social responsibility have significant positive effects on ethical banking practices, while regulatory quality shows no statistically significant influence. These results suggest that internal institutional structures and external stakeholder engagement play a more prominent role in shaping ethical behaviour than formal regulatory frameworks, which are often weakened by poor enforcement and systemic inefficiencies. The study offers practical insights for bank executives and regulators, emphasizing the need to strengthen internal governance systems, enhance CSR integration, and institutionalize stakeholder engagement mechanisms. It also calls for a re-evaluation of regulatory enforcement strategies by institutions such as the Central Bank of Nigeria and the Financial Reporting Council to ensure that regulations translate into meaningful ethical outcomes. Overall, the study contributes to the growing discourse on banking ethics in emerging economies and highlights actionable pathways for promoting trust, transparency, and accountability in Nigeria‘s financial sector.