The Relevance of Blockchain Technology in Corporate Governance

: Evidence from Nigeria.

Abstract

This thesis explores the potential of blockchain technology in improving corporate governance practices in Nigeria, a nation grappling with corruption, inefficiency, and lack of transparency. This research examines the potential of blockchain in addressing governance issues, by analysing its attributes such as transparency, decentralization, and immutability. The study utilizes a quantitative method based on a Nigerian sample, to analyse blockchain adoption on corporate governance using the Partial Least Squares of Structural Equation Modelling.
Findings indicate that blockchain technology can substantially enhance innovativeness, and reduce fraudulent activities by providing a tamper-proof recording, of all transactions and improve cost efficiency. However, findings from test performed in this study, indicate a weak relationship between blockchain adoption and transparency and accountability variable, which is contrary to theoretical assumptions. In addition, this technology improves operational efficiency through the automation of processes and the use of smart contracts, that streamline auditing and compliance functions. Conversely, the study also identifies critical issues and challenges, specifically regarding regulatory and policy frameworks of these sectors identified above, and the need for stakeholders’ trainings, awareness and education to facilitate a widespread adoption.
This thesis concludes that while blockchain technology presents a significant potential, for transforming corporate governance practices in Nigeria. The successful implementation hinges on the establishment of a robust, and supportive policy framework, coupled with proactive engagement and commitment from all relevant stakeholders. This study contributes to the emerging body of literature, examining the applications of blockchain technology within the realm of corporate governance, offering valuable insights and actionable recommendations for leveraging this innovative technology to enhance integrity, transparency, and efficiency in Nigerian corporate practices.

Date of Award	3 Dec 2025
Original language	English
Awarding Institution	Teesside University
Supervisor	Naheed Roni (Supervisor) & Yongsheng Guo (Supervisor)