Strategies for Improving Corporate Governance by Organizations in Nigeria

Abstract

Global trends in corporate governance have led to series of legislations, regulatory frameworks and codes of conduct by governments, international organizations, professional bodies and other interest/pressure groups. Corporate malfeasance is more common in the third world nations, including Nigeria, than in the advanced countries. We read daily of many corporate malpractices in this country and their negative impact on the economy. Our efforts in this article have been geared towards highlighting major strategies that will improve corporate governance in Nigeria, if religiously implemented, which in turn will enhance corporate and economic development. The quest for Nigeria to be a global economic player by the year 2020 can be attained faster if our indigenous companies operate more professionally, ethically and are in a position to compete internationally.
Key words: Corporate governance; Code of ethics; Board of directors; Management system; Self-Regulation; Strategies