IMPACT OF CORPORATE GOVERNANCE AND FINANCIAL REPORTING STANDARD IN NIGERIAN BANKS

The objective of this study was evaluate an ethical assessment of Corporate Governance and Financial Reporting in Nigerian Banks as well as strengthening accountability and reliable corporate performance reporting. The methodology adopted in this research is the primary and secondary method of gathering data. The population of the study were staff of the head office and three (3) branch offices of United Bank for Africa Pic in Abuja and the statistical techniques used in analyzing data is the chi-square technique. The study show that effective Corporate Governance significantly influences ethical Financial Reporting in Nigerian banks and that, there is a significant impact of ethical Financial Reporting on transparency and accountability of Nigerian banks. On the basis of the findings, the study concludes that ethical and effective corporate governance of integrity, objectivity and technical competence is fundamental in the production of quality financial reports. Therefore, to improve the financial reporting framework, the study recommends that employment processes of banks need to be improved for men and women with high level of ethical standing to be employed in the banking industry also Banks in Nigeria need to establish ethics and compliance department to guide and monitor ethics implementation in their day-to-day activities. The Central Bank of Nigeria (CBN) and/or other regulators should be the employer and payer of Bank external auditors in order to insulate these auditors from rent seeking appeasement of bank directors. vi