Corporate Governance, Distress Syndrome and Nigerian Banks

This study basically beamed its searchlight on the banking sector in Nigeria. It covered the period before the bank consolidation and the issues involved in corporate governance were also considered. The role corporate governance has played in the unfolding scenario particularly during the period 1994-2003 was noted. This paper therefore examined the conceptual framework the literature review and the methodology in a nutshell while the discussions and findings were brought out as exhaustively as possible. The paper further attempted to establish the nexus between corporate governance and banking sector distress in Nigeria. The author recommended a strong compliance with the latest code of corporate governance handed over by the Central Bank of Nigeria to banks. It ultimately posited that effective corporate governance will make the directors and top management accountable for their misdeeds; it will resolve the issue of bank distress and will bring the expected sanity into the sector.