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The study was concerned with studying the role of corporate governance on the
performance of the National Social Security Fund. The study had six specific objectives;
to examine the practice of corporate governance at NSSF, to explore the extent to which
the Fund complies with the CMSA’s principles of corporate governance, to examine the
relationship between board composition and the performance of the NSSF, to examine
the relationship between board audit committee and the performance of the NSSF, to
examine the relationship between separation of role of chairman and chief executive and
the performance of the NSSF and to examine the relationship between accountability
and the performance of the NSSF as used consistently with specific research questions.
To provide answers to the specific objectives of the study, case study research design
was adopted in which, the NSSF was regarded as the single for being studied. To create
the primary source of data, probability sampling procedure were used to select sample
size of 40 respondents from the NSSF staff. The study applied questionnaire and indepth interview method to collect data from selected sample size and then, analysis of
those collected data was done qualitatively and quantitatively based on the nature of data
The findings revealed from this study show that the fund apart from being complied with
the Capital Markets and Securities Authority principles of corporate governance, also its
practice of good corporate governance, performance improvement occurs through
having effective board composition, board audit committee and separating role of
chairman and chief executive. The findings shows the NSSF balanced board
composition and board audit committee have a strong positive relationship to the NSSF’s
performance while the separating role of board chairman and Director-General has a
a very strong positive relationship to the NSSF’s performance.
In the view of the revealed findings, the study provided a recommendation for
performance improvement to the board of trustees of the fund, management team of the
fund and then, recommendation for further the further studies was given. |
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