CORPORATE GOVERNANCE REGULATION AND ITS PERFORMANCE IN NIGERIAN BANKING

This study is aimed at examining corporate governance regulations and the impact it has in the Nigerian Banking system using some selected banking firms as a case study. The data required for this research work was gathered from both primary and secondary source of data. The primary source of data was evident through the utilization of a questionnaire and the secondary source of data was made evident from the published annual reports and company sources spanning five years. A total of 13 questionnaires were administered of which 13 copies were collected back for analysis. The questionnaires were analyzed using percentages, ratios and Regression analysis. The result of this analysis shows that corporate governance has positive effects on the performance of the Nigerian banking industry, the adoption of the internal and external corporate governance mechanism in the Nigerian banking industry is significant, there is a significant relationship between the problems militating against corporate governance in Nigerian banks. The research also recommends that banks formally adopt and implement OECD Principles of Corporate Governance within their policies and procedures, and report on their compliance in their annual reports, also for banks to have sustainable growth and stability they should embrace best practices of corporate governance which will ensure that shareholders wealth is looked after in the best way possible, that adequate risk management measures are put in place and that standards are not only in writing but that they are practiced on a day to day basis and also the central bank of Nigeria has to encourage banks to implement corporate governance practices through enacting rules and regulations. Corporate governance practices will ensure that banks maintain the level of risk they can handle and give depositors sufficiently safe level of their savings and investments.