Main Article Content
Social Scientist (SPSS) was used to analyze the data collected and interpretation of data was done through simple percentages. Pearson Product Moment Correlation was
used to test the relationship that exists between efficient Corporate Governance in the banking sector and the roles of external auditor and the composition of the board of
directors. The study revealed that, lack of proper corporate governance is the bane of so many banks in Nigeria. The collapse and failure of many banks was as a result of
both poor audit control and directors’ negligence to observe due diligence and acceptable standard practices. However, banking sector has greatly contributed to the gross domestic product of Nigeria and consequently improved the economy. Therefore, transparency, honesty and objectivity have to be encapsulated in the running of banking operations so as to have a positive effect on the continuity of the organization.