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Bullion

Keywords

Cost reduction, Corporate governance, Financial management, Corruption, Cost control.

Abstract

This study is on exposition of the imperatives of cost reduction strategies and corporate governance practices as it relates to financial malfeasance. The mechanics for a paradigm shift discussed include: cost reduction techniques, adoption of cost efficiency techniques and maintenance and reportage of accurate financial records, etc.; along with adoption of sound corporate governance policies of accountability, adherence to regulatory framework, and respect for stakeholders' interest. The study concludes by suggesting further initiatives to 'clean-up and reposition' the sector for growth & economic development. These include: effective justice system, stepping up the policy of cashless economy, entrenching protection programs for whistle blowers, among others.

Author Bio

The author is a staff of Delta State University, Asaba campus, Department of Business Administration/Marketing.

Publication Title

CBN Bullion.

Issue

2 - 1

Volume

37 - 38

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