REINVIGORATING THE ETHICS OF CORPORATE GOVERNANCE IN THE NIGERIAN BANKING SECTOR

Abstract

The major concern for both private and the public sectors of Nigerian economy is the issue of corporate governance. Evidence from the past decades show that, the banking sector was engulfed in mixed fortunes, resulting in occasions of companies' failures and a close loss of public confidence. This paper examined the importance of corporate governance and the degree to which weak corporate governance has affected the Nigerian banking sector. Equally, this paper evaluated how corporate governance impacts performance on the banking sector in Nigeria. The paper employs an analytical research methodology which made use of primary sources such as statutes and case law. Also, secondary sources were consulted, which include journals, articles, books, and materials sourced via the Internet. The study reveals that, several codes of best practice and the legal framework for effective corporate governance are in existence. However, the problem has been that of weak compliance and enforcement.