Companies all over the world are now realizing that the disclosure of only mandatory information does not give a complete measurement of firm’s value. Thus, the disclosure of mandatory and voluntary information together gives a balanced view of the companies’ performance and value over time. The main objective of this study was to examine the effect of voluntary disclosures on firms’ value taking samples from deposit money banks listed on the floor of the Nigeria Exchange Group from 2012-2021. The independent variable of the study being voluntary disclosure was proxied by social donations & gifting disclosure (SODD) and eemployee’s health and safety disclosure (EHSD) while the dependent variable being firms’ market value was proxied by Tobin’s Q. Furthermore, in line with related extant literature, the study controlled the model goodness of fit by employing the variable of return on equity (ROE). The research design adopted for this study was ex post facto, purposive sampling technique was employed and secondary source of data used was obtained from the studied companies’ annual report and Nigeria Exchange Group fact book. Dummy Least Square Variable regression was adopted to analyze and test the two hypotheses formulated for the study. The findings of the study revealed that social donation and gifting disclosure has a positive significant effect on the market value of deposit money banks while employee health and safety disclosure has an insignificant negative effect on market value of listed deposit money banks in Nigeria. Thus, based on these findings, it was concluded that social donations and gifting disclosure has a significant effect while employee health and safety disclosure has insignificant effect on market value of listed deposit money banks in Nigeria. value. It was therefore recommended among others that the apex bank should set sector specific benchmarks against which individual banks should compare their voluntary disclosure practices and make improvements when the need arises.