This study examined the impact of corporate governance on banks profitability in Nigeria. The study specifically evaluated the impact of ownership structure on the profitability of deposit money banks in Nigeria and analyzed the effect of audit committee independence on the profitability of deposit money banks in Nigeria. The ex-post facto research design was adopted in the study. Panel data spanning five years (2014-2018) was pooled in the study and analyzed using panel estimation techniques (pooled OLS analysis, fixed effect analysis, random effect analysis and other post estimation tests). Findings from the study revealed that ownership structure exerts positive and significant impact on profitability of deposit money banks while audit committee independence exerts positive but insignificant impact on profitability of deposit money banks. Following the findings established, the study suggested that regulatory bodies should exert effort towards ensuring that ownership structure of banks aligns with the policies stipulated by the code of corporate governance and the board of banks should ensure that members of the audit committee observe their oversight function with increased level of independence, integrity and professionalism.

Keywords : Corporate Governance; Profitability; Ownership Structure; Audit Committee Independence.