The research investigates the relationship between firm profit and CSR for 14 selected banks in Nigeria covering the period 2016 to 2022 using secondary data from banks’ annual financial reports in the form of panel data. Bank profit after tax is the response variable while CSR expenditures and employee welfare expenses (internal CSR) were proxies for CRS. The study used Granger Causality to show the direction of causality between the variable, guided by the theoretical framework of Carrol’s CSR pyramid and ethical consumer hypothesis. From the results, only two hypotheses were accepted out of four. It was found that CSR expenditure impact bank profits and vice versa. However, there was no relationship between bank profits and employee welfare expenses.