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Corporate Governance Practices in Nigeria

In: Corporate Governance in Emerging Markets

Author

Listed:
  • Chris Ogbechie

    (Pan-Atlantic University
    Strathmore University)

  • Dimitrios N. Koufopoulos

    (Strategy department, Brunel Business School)

Abstract

Recent global happenings regarding high-profile corporate failures have put back on the agenda and intensified debate on corporate governance and board practices. Business regulatory agencies in many countries – Nigeria specifically – have responded by enacting governance codes as a means of better oversight and to align with international best practice. In Nigeria, there are three main codes that cover mostly public and private business organizations. The authors in their research found that Nigerian companies have been compliant with these codes on structural factors. As regards the process factors, more needs to be done specifically in board evaluation and the quality of directors. It is recommended that there should be a harmonization of all the codes so that the same set of rules and regulations can be used to evaluate companies irrespective of industry. In addition, the culture promoting whistle blowing in firms should be encouraged.

Suggested Citation

  • Chris Ogbechie & Dimitrios N. Koufopoulos, 2014. "Corporate Governance Practices in Nigeria," CSR, Sustainability, Ethics & Governance, in: Sabri Boubaker & Duc Khuong Nguyen (ed.), Corporate Governance in Emerging Markets, edition 127, pages 373-394, Springer.
    • Handle: RePEc:spr:csrchp:978-3-642-44955-0_15
    DOI: 10.1007/978-3-642-44955-0_15
    as

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