THE IMPACT OF COOPERATE GOVERNANCE OF LISTED NON-FINANCIAL FIRMS IN NIGERIA.

ABSTRACT This study examined the impact of corporate governance on the financial performance of Non-financial firms in Nigeria. The study was motivated by the increasing concerns over weak governance structures, poor board oversight, and declining financial performance among Nigerian firms. secondary data were collected from the annual reports and audited financial statements of listed Non-financial firms in Nigeria covering an eight-year period from 2016 to 2023. The empirical findings revealed that board independence and leverage have significant negative effects on financial performance, indicating that overly independent boards without adequate expertise and high debt levels reduce firm profitability. Board meeting frequency exhibited a weak positive influence on firm performance, suggesting that more active boards contribute modestly to improved financial outcomes. However, board size, board gender diversity, board expertise, and firm size were statistically insignificant, implying that these governance mechanisms did not meaningfully explain variations in financial performance within the sampled firms. The study concludes that while corporate governance is essential for accountability and sustainable firm growth, its effectiveness depends on the quality and implementation of governance practices rather than the mere presence of governance structures. The study recommends that firms strengthen the competence of independent directors, reduce excessive leverage, enhance board effectiveness, improve transparency, and ensure stronger regulatory oversight to promote better financial performance.