CHAPTER 1
INTRODUCTION
1.1 BACKGROUND INFORMATION
Corporate Social Responsibility (CSR) as a concept entails the practice whereby corporate entities voluntarily integrate both social and environment upliftment in their business philosophy and operations. A business enterprise is primarily established to create value by producing goods and services which society demands. The present-day conception of corporate social responsibility (CSR) implies that companies voluntarily integrate social and environmental concerns in their op¬erations and interaction with stakehold¬ers. The notion of CSR is one of ethical and moral issues surrounding corporate decision making and behaviour, thus if a company should undertake cer¬tain activities or refrain from doing so because they are beneficial or harmful to society is a central question. Social issues deserve moral consideration of their own and should lead managers to consider the social impacts of corporate activities in decision making. Regardless of any stake¬holders’ pressures. However, some arguments that the contri¬bution of concepts such as CSR is just a reminder that the search for profit should be constrained by social considerations (Manuel and Lúcia, 2007) and increasingly CSR is analysed as a source of competitive ad¬vantage and not as an end in itself (Bran¬co and Rodrigues, 2006). In effect, the concept of CSR has evolved from being regarded as detrimental to a company’s profitability, to being considered as some¬how benefiting the company as a whole, at least in the long run.
Today, managers of Nigerian banks have found a need that the environment in which they operate should be provided for because their intermediate and macro environments have a direct impact on the attainment of the corporate goals, objectives and mission statement. The purpose of all Profit-making organizations, and even the non-profit