The Conflicting issues between the Corporate Governance Code of SEC and other Legal Regimes in Nigeria

ADEJOH EDOGBANYA, GLORIA TOKULA EDOGBANYA

Abstract


The code of corporate governance was developed by the Security and Exchange Commission (SEC) to strengthen the activities of public limited liability companies in Nigeria. Nigeria is lacking an alignment of its code of best practices with the relevant laws thereby creating conflicting issues and lacuna for SEC in effective implementation of her policies. The Company and allied Matter Act 1990 (CAMA) and other laws governing the operating activities of companies provide very limited protection to shareholders against poor corporate governance and unethical practices by the executive. This paper attempt to develop a frame work to address the lacuna and shortcomings. This paper examines the development of corporate governance mechanisms in Nigeria and further seeks to advocate for a review and update of Nigeria's corporate governance code to meet global best practice.

Keywords: Corporate governance, corporate governance codes, Regulators, Nigeria.


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Department of Public Administration
KHON KAEN UNIVERSITY.
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Faculty of Humanities and Social Sciences,
Khon Kaen University, Khon Kaen, Thailand

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