Evaluation of IT Governance Practices in Nigerian Commercial Banks: A Case Study of First Bank of Nigeria

IT governance determines how technology investments and risks are directed, managed, and monitored in financial institutions, and its quality directly affects both operational efficiency and regulatory compliance in Nigerian commercial banking. This study evaluates IT governance practices at First Bank of Nigeria, drawing on publicly available governance documentation and survey data from ICT department staff. A descriptive case study design was applied, combining document analysis of the bank's annual reports, technology policy summaries, and CBN information security guidelines compliance reports from 2020 to 2023 with a structured questionnaire survey of 80 IT staff across Lagos headquarters and three regional ICT divisions, selected through purposive sampling. Variables assessed include IT governance framework adoption (COBIT, ITIL), risk management processes, IT audit function adequacy, technology investment decision-making processes, and CBN cybersecurity regulatory compliance indicators. Descriptive statistics and compliance gap analysis were applied. Available IT governance literature from Nigerian banking contexts identifies inconsistent application of IT governance frameworks below management level and inadequate IT audit frequency as common governance weaknesses in first and second-tier banks. The COBIT 2019 Framework and the IT Governance Institute standards provide the evaluative reference. Findings indicate strong senior-level IT governance commitment but variable implementation consistency at operational levels. Recommendations address mandatory COBIT implementation training for all IT management tiers and CBN-mandated IT governance audit frameworks. Keywords: IT governance, commercial bank, First Bank of Nigeria, COBIT, South West Nigeria.