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The study focused on corporate governance and the Performance of Deposit Money Banks in Lagos State. The cross-sectional survey research design was adopted to evaluate the effect of corporate governance on the performance of selected deposit money banks in Lagos State. The study population comprised of one thousand, two hundred and twenty-eight (1,228) employees of selected deposit money banks. The study used a questionnaire as the research instrument. The responses were analysed using Frequency distribution tables and percentage presentation and interpretation of data collected using the Statistical Product and Service Solutions (SPSS) version 24.0 versions for the analysis. Findings revealed that corporate governance has a positive and significant effect performance of DMBs under investigation. Based on the above findings, this study concludes that the performance of selected Deposit Money Banks in Lagos State, Nigeria is significantly affected by corporate governance. The study therefore recommended that the corporate parent of the selected DMBs in Lagos State must pay attention to corporate governance activities to ensure that it helps improve the performance of the DMBs under investigation.