This paper examined corporate governance and financial information management in the Nigerian Banking Sector. The purpose is to examine the weaknesses and strengths of corporate governance practice in the Nigerian Banking Sector and also to assess the level of financial information management disclosure in the sector. A total of five banks have been used as sample. The data obtained through questionnaire were analyzed using simple percentage. Our findings reveal that there are weaknesses in corporate governance practice of banks in Nigeria. Based on the findings the study recommended that the regulatory authorities should enforce corporate governance laws and regulations and put sanctions for violators of fiduciary duty in order to deter wrong doing.