AN APPRAISAL OF THE LAW AND PRACTICE OF CORPORATE GOVERNANCE IN THE NIGERIAN BANKING SECTOR

📄 Project Abstract

Corporate governance is a principled-based system by which corporations are organised and managed. It is made up of rules and regulations and ordered by a sound system of internal and external control. It exists for the benefit of all stakeholders. The principal role of corporate governance is to stem corporate maladministration and procure that companies are properly managed and directed. The prevalence of codes across jurisdictions justifies this proposition.But despite the heightened focus on corporate governance companies still fail, particularly in the Nigerian banking industry. For example Nigeria experienced its first major wave of financial crisis in the 1990s, and followed by the second major wave which occurred immediately after the banking consolidation in 2009. The second wave sent some banks to insolvent liquidation. That banks still face and experience life threatening shocks in the presence of robust governance provisions is without doubt a contradiction, nay a conundrum...