The need for quality accounting information is to bring investors’ in an economy. Investors require financial position of business asset to be prepared in line with the international accounting standards. Goodwill as an asset requires quality reporting in accordance to the Nigerian GAAP. Provision of goodwill impairment in Nigerian banks has been provided on SAS26 for Financial information. Questionnaires were administered to the bank staff and preparers of financial statements for banks. 10 banks were selected for the study. Chi-square was used as a statistical tool from the data analysis. Form the study it was found that financial reporting in Nigerian universal banks recognized goodwill impairment in a low term for merger and acquisitions. The quality of accounting information disclosure in respect of goodwill has been low. Nigerian universal banks should ensure there is enough information in respect of goodwill impairment before taking merger and acquisition decision as this will foster quality decision. Also Nigerian universal banks should providing adequate and accurate information in foot notes of financial statement in respect of goodwill impairment
Keywords: : Goodwill impairment, Financial Statement, Information, Nigerian GAAP, SAS 26
