ABSTRACT
The Project is on the Impact of corporate governance in the Nigerian
financial system. The objectives of the study were: to identify the principles
of corporate governance in the Nigerian financial system; to evaluate the
challenges of corporate governance in the Nigerian financial system; to
identify why corporate governance is relevant in the Nigerian financial
system. The study used both primary and secondary sources of data. A total
number of 327 copies of questionnaire were administered and 300 were
collected and analyzed. Statistical tools for analyses include, tables,
percentages, bar charts and chi-square.
The findings indicate that rights of
share holders, transparency and adequate disclosure of information are some
of the principles of corporate governance; Inadequate management capacity
and inadequate financial controls are some of the challenges of corporate
governance. The study concludes that; there is high level of malpractice in
the Nigerian financial system; inadequate operational and financial controls
affect the Nigerian financial system. The study from its findings made
recommendations such as organizations should ensure that board members
are qualified for their positions and that organizations should conduct
corporate governance in a transparent manner.
