This study investigates financial statement manipulation and its implication for Shareholder Value of listed deposit Money Banks in Nigeria. Focusing on Income Smoothing (IS) and Loan Loss Provisions (LLP), the research explores how these accounting techniques influence Tobin’s Q, a key measure of market value relative to asset replacement cost. Using panel data from 14 banks between 2013 and 2023, the study employs a Fixed Effects Model to analyze the relationships between these variables. The results reveal a significant positive relationship between IS and Tobin’s Q (coefficient = 0.560, p-value = 0.020), indicating that banks that stabilize their earnings are perceived more favorably by the market. Similarly, LLP shows a significant positive effect on Tobin’s Q (coefficient = 0.235, p-value = 0.029), suggesting that higher provisions for loan losses are linked to better market valuation. These findings align with the notion that investors value stability and prudent risk management. However, the study also highlights that excessive income smoothing or loan loss provisioning could raise concerns about transparency, potentially eroding investor trust. This research contributes to the limited empirical literature on creative accounting's effects on shareholder value in Nigeria’s banking sector. The study recommends enhancing transparency in income smoothing practices and maintaining adequate loan loss provisions to ensure long-term financial stability and market confidence