Each of the internal and external consumers of financial information has a distinct goal in mind for the business when examining financial information in annual reports. In effect, several sorts of users are reviewing the same set of yearly reports from the company, each with a different goal in mind. The purpose of this study is to determine the level of voluntary disclosure offered in Deposit Money Banks (DMBs) annual reports in Nigeria from 2006 to 2017. The voluntary disclosure scores of the DMBs are calculated using three panel data regression models (the pooled, fixed effects, and random effects OLS) on chosen DMBs' corporate governance parameters (Board Composition, Audit Committee Composition, Board Size, frequency) meetings of the audit committee and the presence of a foreigner on the board). The study reveals that board size and the presence of a foreigner on the board are adversely connected with voluntary information disclosure, but board composition, audit committee composition, and frequency of audit committee meetings are favourably correlated. According to the study, Nigerian regulatory authorities should guarantee that reporting formats for DMBs are standardised so that they can be compared. It is also suggested that the government create incentives for greater voluntary disclosures in order to lessen information asymmetry in the Nigeria Stock Exchange market and so strengthen the economy by attracting more foreign investments. It is also suggested that board independence be fostered based on the outcomes of this study. Please see the link :- https://www.ikprress.org/index.php/JET/article/view/4205