Cbn Code of Corporate Governance and Financial Performance of Listed Banks in Nigeria

Introduction Of Cbn Code of Corporate Governance and Financial Performance of Listed Banks in Nigeria

This research examines the CBN code of corporate governance on financial performance of Listed Banks in Nigeria. The study employed the non-surveyed research design, to quantify the level of compliance with code, compliance index, correlation matrix and simple regression method of data analysis was used to access the effect of compliance with CBN code on financial performance of banks in Nigeria. It was discovered that Compliance with the CCG by Nigeria banks has greatly improved the quality of financial performance of banks. This is because the information which disclosure uses to be voluntarily is now made to be mandatory with the introduction of CCG. It was also found out that corporate governance has significant positive importance on the financial performance of banks in Nigeria. It was therefore recommended that The CCG should be reviewed from time to time by the Central Bank of Nigeria (CBN) and the Nigerian Deposit Insurance Corporation (NDIC) taking into cognizance the information requirement of the users and ensures its availability at all time in the annual report of the banks.