Abstract:We ascertain the impact of board oversight functions on the financial performance of listed companies. The study covers the entire 186 companies listed on the Nigeria stock exchange for a period of five years between 2010 and 2014. Three aspect of board oversight function which includes the audit committee function, risk management committee function and remuneration/human capital committee function were considered in this study in line with the provision of (SEC) code of corporate governance and (OECD) code of corporate governance. Return on capital employed and earnings per share were used as the measures of firm financial performance. We conducted both descriptive and inferential statistics on a set of data extracted from the audited financial statement of the listed companies. The descriptive statistics include the mean, standard deviation, minimum and maximum value for each variable while the inferential statistics includes the univariate t-test and multivariate regression analysis. The findings of this study revealed that board oversight function have significant impact on the financial performance of listed companies in Nigeria. The significant relationship between the board oversight functions and financial performance reported in this study have been asserted in previous literature in Africa (Beltratti & Stulz, 2009) and Asia (Fahlenbrach & Stulz, 2009; Fernandes & Fich, 2009) which implies that this might be the global trend on the topic. Thus, the general hypothesis which predicts a significant 1 Corresponding author: Department of Accounting, Bowen University, Iwo, Osun State, Nigeria; tel. +2348066308115; email: oyeezekiel2903@yahoo.comThe impact of board oversight functions on the performance of listed companies in Nigeria relationship between board oversight function and firm financial performance cannot be rejected. Therefore, the recommendations emanating from this study is that concerted efforts should be put in place by the security and exchange commission to ensure strict compliance with regulations regarding the formation of audit committee and other oversight committees by the Nigerian listed companies.
This study examines the effects of financial globalisation on the Nigerian economy using data from the Central Bank of Nigeria statistical bulletin and the Nigeria Bureau of Statistics reports from 1992 to 2017. Using both descriptive and inferential statistical analyses, the study reveals that financial globalisation has helped to mobilise foreign direct investment into the economy and the significant positive effect of personal remittances on per capita income of Nigerians. Therefore it recommends that favourable policies to attract and retain FDI and personal remittances from developed nations should be encouraged and African governments and economic actors should consider all stakeholders' interests, and ensure that an international financial and trade system is "fair and reciprocal" to eliminate the persisting trends in abject poverty, predatory trade policies and the escalation of economic inequalities in Africa.
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