Transcription of POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES …
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POOR CORPORATE GOVERNANCE AND ITS CONSEQUENCES …
1. INTRODUCTIONThe anxiety over the current bankingsector crisis in Nigeria is understandablegiven the vital role played by the bankingsector in the economic development of anynation. The banking industry plays a majorintermediation role in an economy bymobilizing savings from surplus units andchanneling these funds to the deficit unitsparticularly the private enterprises for thepurpose of expanding their productionPOOR CORPORATE GOVERNANCE AND ITS CONSEQUENCESON THE NIGERIAN BANKING SECTORBen Emukufia Akpoyomare Oghojafora, Olufemi Olabode Olayemia*, PatrickSunday Okonjiaand James Ugochukwu OkoliebaDepartment of Business Administration, Faculty of Business Administration, University of Lagos, Akoka -Yaba , Lagos State,Nigeria- West Africa bDepartment of Accounting & Finance, Faculty of Management Sciences, Lagos State University, Ojo- Lagos State, Nigeria- West Africa (Received 5 September 2009.)
honesty, trust, and integrity, openness, performance orientation, responsibility, and accountability, mutual respect and commitment to the organization for selfish reasons. No wonder, the banks astronomical growth and all indices used to package their shares are not commensurate to economic growth and transformation. It was obvious
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