Corporate governance and ethical risk management are critical yet under-researched in post-conflict economies, where institutional fragility and legacy issues create unique operational challenges for businesses. This study aims to systematically map the predominant ethical risks and governance challenges faced by businesses operating in a post-conflict West African context, and to analyse the perceived efficacy of existing mitigation frameworks. A structured survey was administered to a stratified sample of senior managers and owners of registered small, medium, and large enterprises. Quantitative data were analysed using descriptive and inferential statistics, while open-ended responses underwent thematic analysis. A key finding is that 78% of respondents identified 'informal pressure from former combatant networks' as a significant or severe ethical risk, surpassing concerns over corruption. Governance structures were widely reported as being adapted for social cohesion over formal accountability. The findings reveal a distinct, resilience-oriented model of corporate governance that prioritises navigating social and political legacies of conflict, often at the expense of conventional ethical safeguards. Develop context-sensitive governance training programmes for managers; advocate for multi-stakeholder forums to address systemic informal pressures; integrate social risk assessment into corporate due diligence processes. corporate governance, ethical risk, post-conflict economy, business ethics, West Africa, survey research This paper provides the first systematic, empirical dataset on corporate governance perceptions and ethical risk exposures within the formal business sector of this specific post-conflict environment.