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The 2018 Revised Nigerian Code of Corporate Governance: An Academic Response and Lessons for Africa

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  • Ozili, Peterson K

Abstract

This article points out the significant changes in the 2018 codes of corporate governance in Nigeria. This document also highlights our concern that the failure of the 2018 code to address some identified issues can have unintended consequences among firms and could harm the ease of doing business in Nigeria. In particular, the 2018 code gives the board significant powers but underestimate the board’s ability to misuse their power, which may lead to complacency on the part of senior management and may affect the long-term survival and performance of Nigerian firms. Also, the Financial Reporting Council of Nigeria has not considered how companies will react to the new regulations. These observations have important implications for African countries and their codes of corporate governance.

Suggested Citation

  • Ozili, Peterson K, 2023. "The 2018 Revised Nigerian Code of Corporate Governance: An Academic Response and Lessons for Africa," MPRA Paper 118795, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:118795
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    File URL: https://mpra.ub.uni-muenchen.de/118795/1/MPRA_paper_118795.pdf
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    More about this item

    Keywords

    Corporate governance codes; Corporate Accountability; Nigeria Code of Corporate Governance; financial reporting.;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M12 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Personnel Management; Executives; Executive Compensation
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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