Nigerian Bar Association resolves to introduce Guidelines on Anti-Money Laundering & Anti-Terrorism Financing for Nigerian Lawyers and Law firms.

The Nigerian polity has witnessed a huge wave of media reports on the fight against corruption and terrorism recently. President Muhammadu Buhari made the fight against corruption a key thrust of his campaign and has continued to issue statements that portray him as one who desires to tackle the issue of corruption in the country.…

Is the independent director really independent?

Photo credit: freedigitalphotos.net Introduction Independent directorship has gained considerable significance in modern corporate governance, especially in developed economies. A basic feature of corporate governance codes in most jurisdictions is the use of non-executive directors who are usually independent of management. The non-executive director is a member of the board who does not have any executive…

The future of corporate governance in Nigeria: an evolution from principles based to rules based approach.

Background The subject of corporate governance in Nigeria received greater attention after the global financial crisis in 2008-2009. Corporate failures, particularly in the banking industry during the period revealed huge lapses in corporate governance in the affected organisations. Since then, there have been assiduous attempts to enhance corporate governance structures and practices in the country.…

How to enhance minority shareholder protection in Nigeria

Introduction The minority shareholder is one without controlling interest in a company. A direct consequence of the majority rule in corporate administration is the fact that the minority shareholders are at risk of exploitation by the majority. Thus, there is need to protect this group of shareholders in order that their interest in the corporation…

Overcoming the challenges of doing online business in Nigeria

Background With the advent of the internet, the world has become interconnected by the creation of a whole new environment known as the virtual environment with high speed communication and convergence. This environment has eliminated the barriers to trade, commerce and social interaction which were previously hampered by distance and geographical boundaries. Today we speak…