IMPACT OF CORPORATE GOVERNANCE MECHANISMS ON THE TIMELINESS OF FINANCIAL REPORTING AMONG LISTED DEPOSIT MONEY BANKS IN NIGERIA

This study examine the impact of corporate governance mechanisms on the timeliness of financial reporting among listed Deposit Money Banks in Nigeria. Ex Post Facto research design was employed for this study. A census sampling technique was used to select ten (10) listed deposit money banks in Nigeria with international authorization. Data were extracted from annual reports and accounts of the sampled banks and analyzed with regression analysis. The results show that board size has a positive and significant effect on financial reporting timeliness deposit money banks in Nigeria, while audit committee independence has a positive but insignificant effect on financial reporting timeliness of deposit money banks in Nigeria. Therefore, on the basis of the findings and conclusions of the study, the study recommends among other things that boards of directors and management of Nigerian banks, it is imperative to strategically enhance board composition by prioritizing the appointment of a critical mass of independent directors and ensuring an absolute separation of the audit committee and Board Chairman to fortify accountability.