DOI: 10.36347/sjebm.2018.v05i03.008

Pages: 192-199

Corporate governance has evolved over time although much attention of it has been given to large-scale enterprises at the expense of small- scale enterprises despite immerse economic contributions. Corporate governance is concerned with relationships between management and board of directors in the process of wealth generation. Literature on this discipline is abundant but does not focus attention on the Family Owned Enterprises. Literature indicates that family businesses do contribute to the GDP of many economies in the world. Survival of modern businesses is also anchored on good corporate governance. The study drew its roots in the stewardship theory of corporate governance. A qualitative research philosophy informed the study. Research design adopted was the narrative inquiry, which allowed the researcher to deal with stories of the informants regarding challenges in implementing corporate governances practices in FOE. To get rich information about this, purposive sample was drawn from the population.