Purpose: The purpose of this paper is to examine the link between corporate governance structure and firm performance in Nigeria.Design/methodology/approach: The present study uses the regression model to analyze publicly available data for a sample of 107 firms quoted in the Nigerian Stock Exchange for the fiscal years 1998 to 2002.Findings: The empirical investigations showed that ownership concentration has a positive impact on performance. Although the results revealed no evidence to support the impact of board composition on performance, there is significant evidence to support the fact that CEO duality adversely impact firm performance. The result also suggests firm size and leverage to impact on firm performance. A new variable, identified as more than one family member on the board, is found to have an adverse effect on firm performance.Research limitations/implications: The study relied much on publicly available data for a sample of 107 listed firms in Nigeria for the fiscal years 1998 to 2002. Thus, effort should be made to look at this study in a more elaborate viewpoint and across borders.Practical implications: Good corporate governance standards are imperative to every organization and should be encouraged for the interest of the investors and other stakeholders.Originality/value: Interestingly, from a developing country perspective, especially in sub‐Saharan Africa, the paper is the first of its kind and offers evidence on the impact of corporate governance structure on firm performance. The paper provides useful information that is of great value to policy makers, academics and other stakeholders.

The study investigates how financial literacy and financial capabilities influence small firms’ sustainability in Lagos and Ogun States, Nigeria. It employs a survey research design to collect data from 300 small business owners across the two States. Data collected were analysed using Structural Equation Modelling (SEM) technique. The study shows that environmental sustainability, financial sustainability and social responsibility are significant determinants of small firms’ sustainability in Nigeria. Financial literacy and financial capabilities practices also have a significant positive impact on firm sustainability. However, the use of savings product shows a significant adverse effect on firms’ sustainability. The findings imply that financial literacy knowledge and practice in small business operations enhance firms’ sustainability. The study recommends that small firms should incorporate sustainability models into their business operations and improve their financial knowledge to maintain sustainability. Small business owners should also invest their savings in an appropriate investment product that suits their risk tolerance.

This study evaluates the relevance of inclusive financial access in moderating the effect of income inequality on economic growth in 48 countries in Sub-Saharan Africa (SSA) for the period 1995 to 2017. The findings using the Generalised Method of Moments (sys-GMM) technique show that inclusive financial access contributes to reducing inequality in the short run, contrary to the Kuznets curve. The result reveals a negative effect of financial access on the relationship between income inequality and economic growth. There is a positive net effect of inclusive financial access in moderating the impact of income inequality on economic growth. Given the need to achieve the Sustainable Development Targets in the sub-region, policymakers and other stakeholders of the economy must design policies and programmes that would enhance access to financial services as an essential mechanism to reduce income disparity and enhance sustainable economic growth.

This paper used the Johansen Cointegration test and system Generalised Method of Moments (sysGMM) to examine the dynamic relations between external debt and economic growth in 43 African countries over the period 2001–2018. The study used data from World Development Indicators (WDI) as published by the World Bank and the World Economic Outlook database as provided by the International Monetary Finance (IMF). The study provides an understanding of how the importance of external debt could be short-lived due to its misapplication. The result reveals evidence to support a long-run equilibrium relationship between external debt and economic growth in Africa. The result demonstrates that beyond a specific capacity, the short-run converges to equilibrium in the long-run and external debt would start to have a deteriorating impact on economic growth in Africa. The findings of this study reinforce the need for policymakers to ensure proper application of external debt on economic activities that would lead to sustained long-term economic performance. Moreover, the government and development partners must put in place a monitoring mechanism to ensure the efficient use of borrowed funds.

Attracting foreign direct investment (FDI) is not without challenges. Numerous barriers, including political instability, corruption, and macroeconomic policies, have been identified as significant impediments to foreign investment in Nigeria. Therefore, our study evaluates the impact of systemic corruption and political risk on Nigeria’s FDI inflows. Our study employs the autoregressive distributed lag and fully modified ordinary least square models to analyze the key determinants influencing FDI decisions on a comprehensive dataset from 1996 to 2023. The study’s findings reveal that higher levels of corruption and political instability negatively affect FDI inflows, deterring potential investors and undermining economic growth. Furthermore, we explore the moderating role of institutional quality and regulatory frameworks such as political stability and absence of violence, regulatory quality, rule of law and control of corruption in mitigating the adverse effects of corruption and political risk. The results underscore the necessity for robust anti-corruption measures and improved political stability to enhance Nigeria’s attractiveness as an investment destination. The study recommends that addressing these systemic issues through effective anti-corruption measures and enhancing political stability is crucial for creating a more attractive investment climate. Highlights High corruption levels negatively affect foreign direct investment (FDI). A high level of perceived corruption raises transaction costs, reduces efficiency and deters domestic and foreign investment, making it harder to achieve long-term economic growth. GDP growth shows a notable negative correlation with the corruption perception index, implying that combating corruption may enhance economic growth.