Stakeholder Trust and Effectiveness of School Governing Boards in Nigerian Private Universities

This study examines the relationship between stakeholder trust and the effectiveness of school governing boards in private universities in Nigeria. Governing boards occupy the apex of institutional governance in private universities, bearing responsibility for policy oversight, financial stewardship, academic quality assurance, and strategic direction. Trust, as a relational resource between governing boards and key stakeholders including faculty, students, and government regulators, has been identified in governance literature as a critical enabler of board effectiveness. The study employs a correlational survey design and samples 240 faculty members, student representatives, and senior administrators from six private universities drawn from the South West, South East, and North Central zones. Validated instruments measuring stakeholder trust and governing board effectiveness are administered, and data are analysed using structural equation modelling. The study draws on the Agency Theory and Stewardship Theory of corporate governance. Findings confirm that stakeholder trust in governing boards is a significant positive predictor of board effectiveness across dimensions including policy coherence, financial accountability, and academic quality oversight. Transparency in board composition, decision-making, and institutional communication are identified as the primary drivers of trust. Recommendations include mandatory disclosure requirements for private university governing boards and the introduction of independent trustee representation in board structures. Keywords: stakeholder trust, governing boards, private universities, institutional governance, Nigeria.