ABSTRACT
Corporate governance is a process, relation and mechanism set up for the corporations and firms based on certain guidelines and principles by which a company is controlled and directed. The principles provided in the system ensure that the company is governed in a way that it is able to set and achieve its goals and objectives in the context of the social, regulatory and market environment, and is able to maximize profits and also benefit those whose interest is involved in it, in the long run. The division and distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and inclusion of the rules and procedures for making decisions in corporate affairs are identified with the help of Corporate Governance mechanism and guidelines. The need to make corporate governance in Nigeria transparent was felt after the high profile corporate governance failure. Thus, Corporate Governance is not just company administration but more than that and includes monitoring the actions, policies, practices, and decisions of corporations, their agents, and affected stakeholders thereby ensuring fair, efficient and transparent functioning of the corporate management system. By this paper, we intend to examine the concept of corporate governance in Nigeria with regard to the provisions of corporate governance under the Companies and Allied Matters Act 2004. The paper willalso highlight the importance and need of corporate governance in Nigeria. We will also discuss the emergence of corporate governance in India.
Keywords: Corporate governance Mechanism, Companies, Firms, Transparency.

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