The effect of corporate governance on the performance

Corporate governance and by extension "internal control" are the bedrocks of competitive, effective and efficient organizations which determine the level of investors' confidence and how fast a quoted organization can access public funds. As a result, corporate governance and internal control have become dynamic concepts which evolve with contemporary issues and not a static one. A Bank's wellbeing is imperative to any economy in which it operates and as such, the industry is highly regulated to minimize incessant failure. The purpose of this study is to explore the effect of corporate governance and internal control on FirstBank's performance through the use of empirical technique. The result showed that corporate governance mechanism represented by ownership structure, board of directors, management remuneration, internal control, audit, transparency and disclosure have a great effect on corporate performance. Some corporate performance evaluation criteria were used.