Role of Corporate Governance in Attracting Foreign Investments in Nigeria

Abstract

Corporate Governance is a system of financial and other controls in a corporate entity and broadly defines the relationship between the Board of Directors, senior management and shareholders. Globalization and liberalization is sweeping across all sectors of economy with rising problems, risks, challenges more pronounce in developing economies. The position of Nigeria in global Transparency is among top ten from the rear and with continuous rise in the number of business collapsed, only organizations that adopt good Corporate Governance and best practices will survive and attain sustainable growth level locally and internationally in this competitive business environment. This paper examined the concept of Corporate Governance, its background in Nigeria, principles, importance/objectives as well as benefits to the Nigerian economy in terms of local and foreign investments.

DOI: 10.5901/jesr.2013.v3n9p35