Al-Hikmah University Journal

The impact of corporate governance on the financial performance of Nigerian deposit money banks was explored in this study. The study employed an ex-post facto research design, with secondary data obtained from annual reports of six (6) listed deposit money banks in Nigeria and the Nigerian Stock Exchange (NSE) fact book covering the years 2010 to 2019. Six banks listed on the NSE were chosen using a targeted sampling technique. For data analysis and interpretation, descriptive and inferential statistics were used. The panel regression study found that the audit committee, board size, and separation of the chief executive director's dual roles all had a substantial impact on the financial performance of deposit money banks in Nigeria, both individually and collectively. As a result, the study came to the conclusion that the corporate governance of Nigeria's publicly traded deposit money banks had a considerable positive impact on their financial performance. Recommendations were made in accordance with the study's findings. The report concluded, among other things, that audit committees should ensure that credit terms and conditions are clearly disclosed before giving credit to clients. Deposit money banks should have reasonable board size that will be capable of piloting the affairs of the bank effectively and efficiently. Finally, banks should make sure that the duties of Chairman of the Board of Directors and Chief Executive Officer are clearly defined (CEO-duality).