APPRAISAL OF CORPORATE GOVERNANCE IN NIGERIAN BANKING SECTOR

This study aims to critically evaluate Corporate governance within the Banking Sector, realising the unique position occupied by Banking industries in the quest for sustainable economic development of any nation, which is requires the banking industries to be governed in a manner for its sustainability and to make it more result-oriented. This study analysed and appraised corporate practise and regulations in Nigeria, Its identified the history of downward retrogression of the banking industries from the ineptitude of lack of necessary regulations and the appropriate enforcement on the activities of the officers. This study which is basically deskbased employs both primary and secondary data that were subjected to content and contextual analysis. The primary data includes Statues such as the Companies and Allied Matters Act, Investments and Securities Act and other Financial Institutions Act. The Secondary data were books, journal articles on Corporate Governance and other relevant materials sourced from the internet. The study concluded that even though efforts were made in the recent times by the Securities and Exchange Commission and the Central Bank of Nigeria who issued Codes of Corporate Governance for sectoral application, the Codes have not resulted in the needed growth and impetus in corporate environment as enforcement still poses a lot of problems. The study therefore urged full disclosure and strict adherence to corporate practice regulations and practices as contained in the Codes which also should be reviewed from time to time to guarantee sustainable development.