Corporate Governance Practices and Return on Equity of Listed Deposit Money Banks in Nigeria

This study investigates the effect of corporate governance practices on return on equity (ROE) of listed deposit money banks in Nigeria between 2020 and 2024. Using an ex post facto design, secondary data from 12 banks were analyzed with descriptive statistics, correlation, and panel regression techniques. Results show that audit committee meetings and credit committee intensity exert significant positive effects on ROE, underscoring the importance of diligent oversight and strong credit governance in enhancing shareholder returns. Conversely, board size demonstrated a negative but statistically insignificant effect, suggesting that numerical expansion of boards does not directly improve profitability. The findings highlight that specialized governance committees, rather than board enlargement, are the primary drivers of sustainable shareholder wealth. The study recommends that regulators and bank management strengthen committee independence, expertise, and substantive oversight to improve governance quality, investor confidence, and long term financial resilience.