Corporate Governance Performance In Nigeria

Abstract

The paper aims towards contributing towards the debate on the role of corporate governance in emerging and developing economy of Nigeria. The study also focuses on to explore how corporate governance, competition regime, lands tenurial system, the regulatory quality of the post-privatization regulatory agencies significantly contributing for the inability to realize the goals for the policy. Nigeria is a country that has experiences both political and economic turbulence over the past three decades and which too has experiences important corporate background which discusses the issues of gender, power and ethnicity relationships and their relevance to the governance in Nigeria. The corporate governance issues are becoming more complex and it is becoming difficult to deal with such issues. It should be noted that the application of the Code of Corporate Governance in Nigeria is voluntary. The Code also suffered delays in its internalization prevent the establishment of an effective system of good corporate governance in the country.

Abstracti

Introduction1

Focus of the study2

Research Questions3

Research Objectives3

Literature Review4

Background and Principles of Corporate Governance4

Development of Governance and Corporate Regulation in Nigeria4

Reason for Consolidation of Nigerian Banking Sector6

Issues and Challenges: Case of Corporate Governance Abuses in Privatized Firms6

Methodology7

Data Collection Method8

Analysis of Data Gathered9

Strengths and Weaknesses of Methodology9

Interview Results and Analysis10

What is Corporate Governance?10

What is the relationship between Governance and Performance?13

The role of Regulation and Governance16

What role the Governance played in Nigeria?18

Preliminary Analysis of Literature20

Overview and Conclusion22

Recommendations23

References24

List of Tables

Table 1: Percentage of sources of information for corporate governance11

Table 2: Percentage of mediums for reading corporate governance concept in Nigeria13

Table 3: Perceptions of respondents for the relationship between governance and performance13

Table 4: Perceptions of respondents for the cause of recent banking crisis in Nigeria.17

Corporate Governance Performance In Nigeria

Introduction

The term “Corporate governance” actually identifies to mean diverse things to different people. Zimmerli & Holzinger, (2007), stresses that the corporate governance relates to ensure the reality that business is running well and also the fact that the investors receive a fair return. Thus, OECD led to provide more vast definition of the corporate governance (Zimmerli & Holzinger, 2007, 43-78). They define that corporate governance as being the system through which the business corporation are controlled and directed (OECD, 2005). Moreover, the structure of corporate governance actually specifies the distribution of rights and responsibilities through different participants in the corporation including the shareholders, managers, board and other stakeholders spells out the procedures and rules in order to make decision over corporate affairs. Thus, in doing this, it led to provide the structure through which the objective of the company are set and the means of achieving these objectives and monitoring the performance (Angaye, 2008, 56-90).

The corporate governance issues are becoming more complex and it is becoming difficult to deal with such issues. The corporations are realizing the factor that the process of offerings is creating a loophole. It is an instrument that is strengthening the effectiveness of the organizations in the corporate world. It helps to modify the goals within the corporate entities (Ahunwan, 2002, ...