Corporate Governance Implementation in the Nigerian Banking Industry

The increasing level of fraud, the collapse of banks, and the loss of confidence in the Nigerian banking industry have been attributed to poor corporate governance. The problem of this study was effective implementation of corporate governance in Nigeria where multiple regulations are in place. The purpose of this qualitative single case study was to understand how corporate governance is implemented in the Nigerian banking industry in the face of a multiplicity of regulations. The research question investigated how Nigerian bank managers implement corporate governance regulations in the face of a multiplicity of regulations. The conceptual framework was grounded in stewardship theory. Data collection included document analysis and face-to-face semistructured interviews to gain an understanding of how to implement corporate governance based on the perception of 15 purposefully selected senior managers and directors of the host bank. Data were analyzed using Yin\u27s 5-Stage data analysis approach. Findings revealed that the involvement of senior bank managers and the adoption of global best practices, training, education, and awareness creation are the prerequisites for effective implementation of corporate governance. Findings may be used to reduce corporate failure, improve compliance, and restore confidence in the banking industry through enhancing the understanding of practitioners, investors, and policymakers on how to implement corporate governance in a highly regulated banking environment and contribute to positive social change