Good governance can be seen as a term which determines how public institutions conduct public affairs and manage public resources
On the other hand, vigilance is practice or state of keeping careful watch for possible dangers

In managing public resources, public institutions might start practicinghedonism (attitude in which a person starts thinking about himself/herself only, ignoring the effects of decisions taken by them on the people around them) to conduct public affairs and utilize public resources for personal gains. Such activities pose threat of corruption, which hurts the principle of good governance
To avoid this, vigilance is necessary. And to make vigilance accountable to people/ citizens of society, transparency is required
In India, we have a statutory body named Central Vigilance Commission (CVC) headed by Central Vigilance Commissioner
Its mandate is to oversee the vigilance administration and to advice and assist the executive in matters relating to corruption

It investigates cases of corruption arising out of complaints or detection by vigilance wings in the various departments and recommends punishment wherever required

With such institution, the complaints related to corruptions get addressed and it helps in maintaining environment of good governance in the society
To put in a nutshell, Vigilance is necessary for good governance