Digital Bookkeeping and Application of Distributed Ledger Technology In Financial Transparency In Nigeria

Abstract

The study examined digital bookkeeping and application of distributed ledger technology in financial transparency in Nigeria. The paper adopted descriptive survey research design and content analysis, it is an opinion paper. The study revealed that, in order to maintain competitive position, financial transparency and comparability, willingness to change needs to be part of organizational culture’s trend. Increasingly, innovation in ways of working, knowledgebased activities and operational use of financial information will produce more sophisticated electronic records that can only be managed electronically. The study recommended among others that challenges brought about by new technologies in general and distributed ledger technology e-bookkeeping management in particular require that records and financial managers be equipped with new skills and competencies through training or retraining to be able to effectively operate and undertake projects in an e-environment.