Abstract

The paper investigates the theory of corporate governance and stakeholders interest. It discusses corporate
governance theory that has emerged. The study was strengthened by the principles and pillars of corporate
governance stresses by OECD. The methodology was based on stakeholders model and value added approach was
used. Annual return of ten selected banks for period of ten years were utilized. Finding revealed that corporate
governance has not been effective in most Nigerian banks. Shareholders had not been fairly treated. The corporate
insiders had capture the corporate outsiders, shareholders as the principal stakeholders had been sidelined as
evidence by huge amount retained devoted for the future. The paper recommended pragimatic approach and
political will to implement principles of corporate governance to ensure fair treatment of stakeholders.

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