GASPRO International Journal of Eminent Scholars

The study investigated corporate governance as a tool for measuring the reliability of financial statement of selected banks in Nigeria. The population of this study consisted of all management and other senior staff of Ecobank in Nigeria and First Bank of Nigeria PLC. The study adopted an Expost-Facto design of which the researcher cannot manipulate the effect on the dependent variable but just obtain the effect already existing in the natural course of events. The instrument for data collection was “Corporate Governance and financial statement questionnaire (CGFSQ)” administered to the respondents and used for the study. The instrument was vetted by experts in statistics and test/measurement for validity while the reliability test was conducted with 30 respondents which produced the reliability coefficient of 0.89, proving the instrument to be reliable for the study. Data collected were analysed using Pearson Product Moment Correlation and regression analysis. It was observed that board structures and board size have significant relationship with the reliability of financial statement. One of the recommendations was that the regulatory agencies should create more awareness of the concept of corporate governance mechanisms and its role in developing the financial sub-sector of the economy.