The Impact of Corporate Governance on HR Policy Implementation in Nigerian Listed Companies

This study examines the impact of corporate governance structures on HR policy implementation in Nigerian companies listed on the Nigerian Exchange Group (NGX), with data drawn from diverse sectors including banking, consumer goods, and energy. Corporate governance frameworks, including board composition, board committee oversight, and executive accountability mechanisms, provide the institutional architecture within which HR policies are formulated and enforced, yet this relationship remains under-examined in the Nigerian corporate context. An applied professional research approach was employed, drawing on corporate governance reports, HR policy documents, and interviews with 65 HR directors and board members in twenty listed firms. Agency Theory and the Stakeholder Theory of Corporate Governance underpin the conceptual framework. Findings reveal that companies with dedicated board HR or remuneration committees demonstrate significantly higher rates of formal HR policy adoption, consistent implementation of equal opportunity provisions, and stronger linkage between executive pay and talent management outcomes. The study further finds that in companies where the CEO role is combined with the board chairmanship position, HR policies are more susceptible to ad hoc executive overrides, reducing their effectiveness as organizational governance tools. Women on boards are found to be stronger advocates for gender-sensitive HR policy provisions compared to all-male boards. Recommendations include mandatory separation of CEO and board chair roles in all NGX-listed firms, establishment of standalone people and culture board committees, and annual HR governance disclosures in company reports. This study contributes to corporate governance and strategic HRM literature in Nigeria. Keywords: corporate governance, HR policy, listed companies, board oversight, Nigerian Exchange