POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTOR
The anxiety over the current banking crisis in Nigeria is understandable. This is borne out of the fact that the economic development of any country is directly tied to its banking sector. The effectiveness and efficiency with which the banks perform their intermediary roles between the surplus and...
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| Format: | Article |
| Language: | English |
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University in Belgrade
2010-11-01
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| Series: | Serbian Journal of Management |
| Subjects: | |
| Online Access: | http://www.sjm06.com/SJM%20ISSN1452-4864/5_2_2010_November_189-281/5_2_243-250.pdf |
| _version_ | 1819130365595353088 |
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| author | James Ugochukwu Okolie Patrick Sunday Okonji Olufemi Olabode Olayemi Ben Emukufia Akpoyomare Oghojafor |
| author_facet | James Ugochukwu Okolie Patrick Sunday Okonji Olufemi Olabode Olayemi Ben Emukufia Akpoyomare Oghojafor |
| author_sort | James Ugochukwu Okolie |
| collection | DOAJ |
| description | The anxiety over the current banking crisis in Nigeria is understandable. This is borne out of the fact that the economic development of any country is directly tied to its banking sector. The effectiveness and efficiency with which the banks perform their intermediary roles between the surplus and deficit spending units of the economy determines to a very large extent the prosperity ofany nation. Corporate governance is systematic and formalized manners of ensuring that top management represented by the board of directors do not make decision making powers occasioned by management and ownership separation to pursue personal interests at the expense of other stakeholders. This study made use of structured questionnaire to elicit responses from conveniently selected respondents comprising of investment experts, academics, banks customers, public and policy analysts with in Lagos metropolis. It was hypothesized and the study confirmed that poor governance culture and supervisory laxities were majorly responsible for the current banking crises.The study recommended an adherence to the execution of the tenets of good corporate governance in Nigerian banking sector and actions contrary to this should be dealt with appropriately by bringingoffenders to book irrespective of their status in the society. |
| first_indexed | 2024-12-22T08:58:27Z |
| format | Article |
| id | doaj.art-9b6dd9e8905e4c36b43ee8eb684058f5 |
| institution | Directory Open Access Journal |
| issn | 1452-4864 |
| language | English |
| last_indexed | 2024-12-22T08:58:27Z |
| publishDate | 2010-11-01 |
| publisher | University in Belgrade |
| record_format | Article |
| series | Serbian Journal of Management |
| spelling | doaj.art-9b6dd9e8905e4c36b43ee8eb684058f52022-12-21T18:31:46ZengUniversity in BelgradeSerbian Journal of Management1452-48642010-11-0152243250POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTORJames Ugochukwu OkoliePatrick Sunday OkonjiOlufemi Olabode OlayemiBen Emukufia Akpoyomare OghojaforThe anxiety over the current banking crisis in Nigeria is understandable. This is borne out of the fact that the economic development of any country is directly tied to its banking sector. The effectiveness and efficiency with which the banks perform their intermediary roles between the surplus and deficit spending units of the economy determines to a very large extent the prosperity ofany nation. Corporate governance is systematic and formalized manners of ensuring that top management represented by the board of directors do not make decision making powers occasioned by management and ownership separation to pursue personal interests at the expense of other stakeholders. This study made use of structured questionnaire to elicit responses from conveniently selected respondents comprising of investment experts, academics, banks customers, public and policy analysts with in Lagos metropolis. It was hypothesized and the study confirmed that poor governance culture and supervisory laxities were majorly responsible for the current banking crises.The study recommended an adherence to the execution of the tenets of good corporate governance in Nigerian banking sector and actions contrary to this should be dealt with appropriately by bringingoffenders to book irrespective of their status in the society.http://www.sjm06.com/SJM%20ISSN1452-4864/5_2_2010_November_189-281/5_2_243-250.pdfcorporate governanceownership separationbanking criseseffectivenessefficiencyeconomic development |
| spellingShingle | James Ugochukwu Okolie Patrick Sunday Okonji Olufemi Olabode Olayemi Ben Emukufia Akpoyomare Oghojafor POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTOR Serbian Journal of Management corporate governance ownership separation banking crises effectiveness efficiency economic development |
| title | POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTOR |
| title_full | POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTOR |
| title_fullStr | POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTOR |
| title_full_unstemmed | POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTOR |
| title_short | POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES ON THE NIGERIAN BANKING SECTOR |
| title_sort | poor corporate governance and its consequences on the nigerian banking sector |
| topic | corporate governance ownership separation banking crises effectiveness efficiency economic development |
| url | http://www.sjm06.com/SJM%20ISSN1452-4864/5_2_2010_November_189-281/5_2_243-250.pdf |
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