COPORATE GOVERNANCE ATTRIBUTES AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

The study investigated the relationship between corporate governance attributes and financial performance of DMBs in Nigeria using descriptive research design. The study made use of time series and secondary procedure in estimating the effect of the predictor variables on financial performance of deposit money banks in Nigeria. The study area comprised of only five DMBs bank in Nigeria (United Bank for Africa (UBA), Access bank, Union bank, First Bank, and GTB) out of twenty-two (22) listed deposit money banks in Nigeria as population of the study. The study covered 2017 to 2021 which gave us twenty-five (25) year annual observation of the selected five (5) DMBs which was also used as sample size accordingly, employing purposive sampling technique. The study employed secondary source of data. The data used for the research were extracted from the Annual report of the BMBs via Nigerian Exchange Group Bulletin. The revealed that there is a positive relationship between corporate governance (board size, and audit committee) and return on assets of DMBs in Nigeria; that there is a positive relationship between corporate governance (board size, and audit committee) and return on equity of DMBs in Nigeria. Therefore, the researcher concluded that there is a significant relationship between corporate governance (board size, and audit committee) and return on assets of DMBs in Nigeria. The researcher concluded that there is a significant relationship between corporate governance (board size, and audit committee) and return on equity of DMBs in Nigeria. The researchers thus suggested that financial institutions in Nigeria should continue to strengthen her corporate governance structure to enhance profitability; the internal control system of the respective DMBs should continue to be boosted, there should be more resource material in this area of study. Hence, scholars should take interest in this area to enhance awareness.