This study aimed at looking into the effects of corporate governance and business ethical values on both the organization and employee’s performance as no organization can function without having good ethics and corporate governance in place. The study was carried out in Unilag Holdings Limited (UniHOLDs). The study was aimed at showing that the organizations will suffer some losses if corporate governance and business ethical values are not in place. The employees’ perception on corporate governance and ethics plays a vital role in the organization. From this research, it was shown that there is a relationship between corporate governance and business ethics values hence correlation analysis was used hence it is statistically reliable, also the test reflects that corporate governance is positively correlated to business ethical values (r=.812, N=94, P<.01) which shows the correlation between the variables. Questionnaire was administered to the employers at Unilag Holdings Limited (UniHOLDs) in which 94 out of 130 were filled and returned. The study revealed that ethical values lead to productive employees and productive employees have a positive effect on the organization’s performance. It also came to light that employees will follow rules whether or not they are ethical, so the organization can work on this by ensuring that no top level manager gives any subordinate tasks that are unethical to carry out. The study recommends that the organization should ensure a continuous practice of corporate governance and business ethics to ensure its stakeholders remain with its mode of operations.