The Role of Technology in Enhancing Corporate Governance Practices in Nigeria: Challenges and Prospects
DOI:
https://doi.org/10.56284/x2cpyb33Keywords:
Corporate Governance; Technology; Transparency; Cybersecurity; Policy ReformsAbstract
Corporate governance is fundamental to ensuring transparency, accountability, and efficiency in corporate operations, particularly in Nigeria. Despite the existence of robust legal and regulatory frameworks, corporate governance challenges persist due to corruption, weak enforcement mechanisms, and infrastructural deficiencies. The integration of technology presents significant opportunities to strengthen corporate governance practices. Technological advancements such as blockchain, Artificial Intelligence (AI), digital reporting systems, cybersecurity measures, and virtual meeting platforms enhance compliance, decision-making, and stakeholder engagement. These innovations improve financial transparency, mitigate fraud, and facilitate regulatory adherence. However, the implementation of technology in governance faces challenges, including infrastructural deficits, high adoption costs, cybersecurity threats, and regulatory gaps. By embracing digital transformation, Nigeria can foster sustainable economic growth and improve corporate governance efficiency in an increasingly digital corporate environment.
References
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