BOARD DIVERSITY IN NIGERIAN NON-FINANCIAL FIRMS (2011-2021): A DESCRIPTIVE STUDY

Abstract

This study investigated the extent of diversity on the board of the listed non-financial firms. Expo-facto research design was adopted using secondary data. The population ofthe study consisted of 109 firms in the non-financial sector listed on the Nigerian Exchange Groupas at December 2010, while seventy (70) firms were purposively selected. Data were sourced fromthe audited financial records of the firms and the Nigerian Exchange Group factbook from 2011to 2021, which was the period that witnessed an increased call for diversity inclusion on corporateboards. Data were analysed using percentages and graphs. The study was anchored on the feministethics theory, which emphasises equality, care and the dismantling of gender-based economicbarriers. The results showed that there was about 65% ethnic diversity on the boards of non-financial firms in Nigeria. The board gender diversity was only about 12.68%, while the boardindependence has a representation of 69%. The study concluded that the underrepresentation ofwomen on corporate boards emphasises that women are economically disadvantaged in Nigeria.These findings contribute to the literature on board diversity by highlighting the persistent genderimbalance in corporate governance. Furthermore, the study provides empirical evidence that canguide regulators and stakeholders in formulating gender-inclusive corporate governanceframeworks to promote equitable economic participation. It is recommended that soft laws beenacted to give room for women