The Legal Regime of Corporate Governance in Nigeria: A Critical Analysis.

Abstract

The impact of a corporate governance system on economic efficiency, with a strong emphasis on shareholders' welfare is encouraged. In large firms where there is a separation of ownership and management and no controlling shareholders, the activities of the company be it public or private entity are governed by the ethics of good and corporate governance to boost investors interest. Corporate scandals of various forms have maintained public and political interest in the regulation of corporate governance. This paper will examine the legal regime of corporate governance and sound ethical principles on some of the regulatory agencies in Nigeria that control the economy with the provision of code of conduct as best practices in corporate world. The paper recommends that SEC, CAC, CAMA and other regulatory agencies in our business environment should administer good corporate governance’s codes to have the confident of its customers, investors and shareholders as obtainable in other jurisdictions to avoid the reoccurrence of a disastrous social impacts seen in the last decade of global financial crisis.. Keyword: Corporate Governance, Legal Framework, Code of Conduct, Regulatory and Management, Public and private Entities.