EFFECT OF CORPORATE GOVERNANCE ON THE FINANCIAL PERFORMANCE OF UNITED BANK FOR AFRICA PLC, NIGERIA

This study on effect of corporate governance on the financial performance of United Bank for Africa Plc, in Nigeria identified how several prevalent scandals in the financial sector, most of the financial firms were declared insolvent around or before 2005 owing to poor corporate governance. The main objective of this study is to examine the effect of corporate governance on the financial performance of United Bank for Africa Plc, in Nigeria. The study used the secondary data collected from the United Bank for Africa Annual Reports from 2013-2023, which also resulted to the ex-post factor design. The population of this study covered united bank for Africa (UBA) in Nigeria. Sample data will be collected from 2009 to 2018. Secondary data are used for this study and are extracted from the annual financial reports of United Bank for Africa spanned from 2013-2023. In the course of performing the multiple regression analysis effort was made to estimate the goodness of fit of the models (R2), Correlation Matrix, Tolerance Value are also adopted in order to address Multi-Collinearity problems. The multiple regression analysis which shows that board gender (β = 0.882, p = 0.000), board size (β = 0.354, p = 0.000) and Board composition (β = 0.831, p = 0.000). This finding implies a positive relationship between board gender, board size, board composition and ROA in the multiple regression analysis. The study recommends that there should be efforts by UBA to include more women in their boards to enhance board diversity, also the number of board of directors should not exceed the average number as this may lead to decisionmaking problems which are characterized by larger board of directors, more so UBA board should increase and support board composition to improve their financial performance.