This study investigated the effect of distributed ledger technology (DLT) factors on eliminating financial reporting errors (FREs) in quoted Nigerian banks. Using an exploratory survey design, data was collected from 300 employees of 14 quoted banks involved in financial reporting. DLT factors of public, private, hybrid, and blockchain were examined as independent variables affecting the dependent variable of FRE elimination. Descriptive analysis showed that all DLT types were perceived as highly effective for error reduction. Correlation analysis revealed strong positive relationships between DLT factors and FRE mitigation. Regression modeling found that hybrid DLT had the largest impact on error elimination, followed by private, public, and blockchain DLT. Together, the DLT factors explained 98.1% of the variance in FRE reduction. The results statistically established the significant positive effects of DLT factors on eliminating prevalent FREs like principle, omission, entry, disclosure, and reversal errors. Key contributions include providing robust empirical evidence that leveraging DLT, especially hybrid DLT, can eliminate common financial reporting errors in Nigerian banks. The pioneering study expands conceptualizations, theories, and literature regarding DLT's potential to comprehensively transform financial reporting accuracy. It offers important implications for policy, practice, and research on regulating, adopting, and studying DLT solutions to address persistent financial statement errors undermining stakeholder trust in Nigeria's banking sector. The study concludes by strongly recommending for policy and, in practice, the regulation and full adoption of DLT for the elimination of FREs in Nigeria.