Corporate governance is particularly of importance in the Nigeria banking industry where a number of financial failures and questionable business practices had negatively impinged investors" confidence.This study examined corporate governance practices in Nigerian banks with regards to board characteristics, performance, culture and processes, and impact on board effectiveness. It also attempted to identify the level of compliance of Nigerian banks to the Central Bank of Nigeria (CBN) code of corporate governance for banks operating in Nigeria.Empirical findings indicate that boards of Nigerian bank frequently undertake evaluation of their activities as a means of improving performance. From the Nigerian bank directors" perspective, the most important determinant of effective boards is the directors" competence. It was also revealed that almost all the banks have been compliant with nearly all of Central Bank of Nigeria (CBN) corporate governance guidelines.This paper also draws a number of conclusions and recommendation and highlights some limitations that can be improved upon in future research.
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