CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCES OF QUOTED COMPANIES IN NIGERIA

This study investigates the effect of corporate governance on the financial performance of quoted companies in Nigeria. It focuses on how specific governance mechanisms board size, board independence, audit committee effectiveness, CEO duality, and ownership structure shape firm performance. Given Nigeria’s adoption of the Nigerian Code of Corporate Governance (NCCG 2018) and ongoing reforms, the study aims to provide a comprehensive assessment of how these mechanisms influence both accounting-based indicators (ROA, ROE, EPS) and market-based indicators (Tobin’s Q). The study employed a descriptive survey research design to investigate the relationship between corporate governance mechanisms and the financial performance of quoted Nigerian companies. Data were collected through a structured questionnaire administered to a sample of 100 respondents drawn from five organizations Zenith Bank in Akungba-Akoko; Amblome Waters in Akungba-Akoko; Omatec computer limited Ibadan; Total Nigeria Plc, Ibadan; and AIICO Insurance Plc in Ibadan using a simple random sampling technique. The questionnaire was validated by subject experts and pilot-tested to ensure reliability, achieving a Cronbach’s Alpha threshold of 0.70. Data were analyzed with SPSS using both descriptive (mean, standard deviation) and inferential statistics (correlation and multiple regression) to determine the strength and significance of the relationships between corporate governance variables and financial performance indicators. Although the final results will emerge from the empirical analysis, the study anticipates that stronger corporate governance mechanisms particularly board independence, effective audit committees, and balanced ownership structures will be positively associated with financial performance. By contrast, CEO duality and excessively large boards may exert mixed or non linear effects. The expected findings will help clarify the current inconclusive evidence in the Nigerian context and highlight which governance attributes exert the most influence on firm outcomes. The study is expected to offer evidence-based recommendations to policymakers, regulators, and corporate boards on how to strengthen governance practices to enhance firm performance. It will also contribute to the body of knowledge on corporate governance in emerging markets by providing a comprehensive analysis of Nigerian quoted companies. Ultimately, the findings aim to guide reforms, improve transparency, and boost investor confidence in Nigeria’s corporate sector. viii