CORPORATE GOVERNANCE AND ITS EFFECT ON THE FINANCIAL PERFORMANCE OF FINTECH ENTERPRISES IN NIGERIA

A. ADEYEMI; B. N. DIXON-OGBECHI; J EMEME

A. ADEYEMI Unilag Business School, University of Lagos, Lagos, Nigeria
B. N. DIXON-OGBECHI Unilag Business School, University of Lagos, Lagos, Nigeria
J EMEME Unilag Business School, University of Lagos, Lagos, Nigeria

Keywords: corporate governance, Regulatory Framework, Transparency and Disclosure, Financial Performance, Fintech

Abstract

It is important secure the confidence of all stakeholders in any business in order to guarantee the performance and sustainability of enterprises within the context of globalisation and internationalization. These objectives can only be achieved within an organisational culture and environment founded on honesty, transparency, and accountability. A firm whose behaviors are grounded in ethical ideals. This research aims to determine the relationship between corporate governance and sustainable performance in the context of Fintech businesses in Nigeria. A sample of 30 respondents from the Nigerian fintech startup Unified Payments (UP) was selected through a multi-stage sampling technique. The data was examined utilizing descriptive statistics. This study's findings provide novel insights into corporate governance and performance, grounded in the corporate governance architecture of Unified Payments Services Limited. The findings of this study reveal that Board Structure has statistically significant effect on the Financial Performance of fintech firms in Nigeria, since at the overall level, board structure can bring significant effect to the financial performance. Specifically, the major finding show that for Nigeria Fintech companies to be above board, Corporate Governance framework elements like Transparency and Disclosure, Ethics and Compliance as well as Regulatory Framework and Compliance are required to entrench strong ethical practice for all licensed fintech companies.