Every organisation aims to carry out the various tasks that make up its "Work" in the most efficient, effective way it possibly can and to set up a workable programme through which it can carry on doing so for as long as it exists. This is as true for a non-profit organisation as it is for a profit oriented organisation and this is what "Performance" in supposed to mean. For an organisation to perform, however, it must have available to it all those resources that need to be imputed into its system to make performance the output. The most important of these inputs is without doubt the human resource of the organisation. It is imperative then that this resource be managed effectively in order to achieve the best result and a cardinal aspect of this human resource management is the appraisal of individual and/or group performance and taking of action appropriate to the results of such appraisals. This study shows in brief what performance appraisal is all about and the various methods used by different organisation to carry out the process. Its inevitable, close link with reward systems, particularly promotion, is highlighted and critically analysed in the light of literature available on the subject. At the end of the work detailed recommendations are made for the improvement of the system as obtainable in a typical Nigerian organisation which in this case happens to be Afribank Nigeria PLC. The choice of Afribank Nigeria PLC was dictated primarily by the need to delimit the study to a manageable size and thereby carry out an in-depth research. What has been put down in the following pages is by no means exhaustive but it is hoped that it would contribute at least to a better understanding of PERFORMANCE APPRAISAL AND REWARD SYSTEMS IN NIGERIA particularly as obtainable in AFRIBANK NIGERIA PLC.