Shareholder Protection: A Comparative Review of the Corporate Legal / Regulatory Regimes in the UK and Nigeria

Ojogbo, Samuel and Ezechukwu, Nwanneka Victoria (2020) Shareholder Protection: A Comparative Review of the Corporate Legal / Regulatory Regimes in the UK and Nigeria. Journal of African Law. ISSN 0021-8553

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Abstract

Foreign investment is a major source of the capital that Nigeria and other developing markets need to promote economic activities and drive economic development. While profit mainly drives the decision to invest abroad, such decisions are also influenced by the safety of any actual investments made. Thus, investors are interested in the laws and regulations that offer them protection against corporate insider opportunism. In Nigeria, the relationship between corporate actors is mainly regulated by the Companies and Allied Matters Act (CAMA). This article investigates the corporate legal and regulatory protection for corporate shareholders in Nigeria and the UK. Comparing the corporate regulatory regime in the two jurisdictions, this article argues that the identified weaknesses in the Nigerian regulatory framework negatively impact the growth of foreign investment in the country. In view of these weaknesses, the article suggests a major review of CAMA and other regulatory instruments with a view to addressing the protection of small investors and “outsiders”, such as foreign investors.

Item Type: Article
Identification Number: https://doi.org/10.1017/S0021855320000200
Date: 7 August 2020
Uncontrolled Keywords: Corporations, corporate law, regulations, shareholder protection, investment
Subjects: M100 Law by area
M200 Law by Topic
Divisions: Faculty of Business, Law and Social Sciences > School of Law
Depositing User: Ezechukwu
Date Deposited: 14 Sep 2020 08:44
Last Modified: 14 Sep 2020 09:03
URI: http://www.open-access.bcu.ac.uk/id/eprint/9882

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