The objective of this study is to examine the relationship between corporate governance and risk management in the Nigerian Banking industry. The paper examines the influence of corporate governance mechanism on Banks risk management practice to maximize value of the firm and its stakeholders. The methodological approach adopted in this paper is libra based research, a conceptual study, focusing on the review of relevant and related extant literatures on the association between risk management and corporate governance characteristics such as: ownership structure, Board of Directors, Board Size, Board Committee, Executive Compensation, Board Independence, and how they relate to risk taking in the banking industry, this paper also make contribution in ditferent ways. First whereas prior studies within Nigerian context have considered the effect of corporate governamce on firm performance, none has considered the influence of corporate governance on risk managenent, the study make contribution by bridging this gap and provide framework for understanding how corporale governance structure infliuence risk management practice to maximize value, promote accountability and transparencyThe study concludes that the conventional governance structures alone map not be adequate to restrain bank risk taking, therefore a strong and independent risk management finction become necessary through its corporate governance compliance.