Corporate Governance and Organisational Health in Selected Deposit Money Banks in Lagos State, Nigeria

This study examined the relationship between corporate governance and organisational health in selected Deposit Money Banks (DMBs) in Lagos, Nigeria. Organisational health, reflected in employee morale, teamwork, innovation, and turnover, was crucial for sustainable growth. Effective corporate governance, including board composition, leadership structure, audit committees, CEO duality, and ownership structure, significantly influenced these factors. A survey research design targeted 3,776 employees from First Bank, United Bank for Africa, Guaranty Trust Bank, Access Bank, and Zenith Bank. A sample of 484 respondents was drawn using Yamane’s formula, with proportionate sampling ensuring diversity. Principal Component Factor Analysis (PCFA) validated the constructs, and reliability was confirmed with a Cronbach’s alpha of 0.948. Findings revealed that board size influenced staff awareness, board composition affected teamwork, and audit committees impacted employee turnover. CEO duality shaped innovation, while ownership structure influenced profitability. The study recommended continuous corporate governance training, stronger board oversight, enhanced risk management, and improved stakeholder engagement to foster transparency, trust, and long-term sustainability in Nigerian banks.