Corporate Governance and Financial Accountability in Nigerian State Universities: A Study in Imo State

This study examines the relationship between corporate governance structures and financial accountability in state universities in Imo State, Nigeria's South East geopolitical zone. Financial accountability challenges in Nigerian public universities including budget opacity, resource misallocation, and audit non-compliance have become persistent governance concerns with direct consequences for educational quality and institutional sustainability. This research employs a survey research design with data gathered from 100 university council members, bursary staff, internal auditors, and academic directors. Structured questionnaires were administered, and data were analysed using descriptive statistics and regression. The study evaluates governance dimensions including council oversight effectiveness, financial reporting transparency, internal audit independence, procurement governance compliance, and stakeholder accountability mechanisms. Findings reveal that internal audit independence and financial reporting transparency are the strongest predictors of financial accountability quality. Council oversight effectiveness showed important but secondary effects, constrained by political appointment dynamics that limit independent scrutiny. The study also identifies weak procurement governance as the most critical financial accountability gap in the universities studied. Recommendations include professionalising university council compositions, strengthening internal audit authority, and adopting digital financial management platforms to improve budget transparency and accountability. Keywords: corporate governance, financial accountability, state universities, Imo State, higher education management.