This study investigates the relationship between corporate governance and firm value: a study of deposit money banks in Rivers State. Six null hypotheses were formulated from the study variables. The survey method was adopted to study sixty-eight (68) managers of deposit money banks in Rivers State. The null hypotheses were tested through the Spearman Rank Correlation coefficient statistical tool and the findings showed a significant positive relationship between the corporate governance and firm value. Thus, it was concluded that corporate governance influences the value of deposit money banks in Rivers State. Specifically, fairness and transparency of board members and the banks, significantly improves shareholders and investors’ perception of value of a firm. In line with the findings, it is recommended that the management of deposit money banks should: ensure there is cordial interrelationship between the boards of the banks, the management and the shareholders through continuous consultations and carrying everyone along; and the government and regulators such as the CBN should have zero tolerance for below standard corporate governance practices by Nigeria banks. The central bank should be above board and transparent in dealings with the banks to ensure that all stakeholders’ interests in the Nigeria banking sector are consistently protected