The effect of culture on Corporate Governance Practices in Nigeria

This study focuses on the effect of culture on the application of corporate governance practices in Nigeria. Corporate governance has been receiving serious attention in emerging markets over the past two decades. But relatively little attention has been given to the study on corporate governance in a country study. The current situations in Nigerian public and private sectors such as the corporate scandal resulting from Lever Brothers Nigeria plc, Siemens, Shell, Halliburton, and Cadbury Nigeria plc, have shown that the issue of fraud, corruption, and corporate scandals cannot be overlooked. Most top management, as this study argues, bring in beliefs acquired from their early childhood into their senior management roles and responsibilities. This study adopts a grounded theory and reports on the effect of culture on the implementation of corporate governance in Nigeria. Based on the interview with 32 staffs, this study identifies the effect of culture that shapes corporate governance and they include abuse of power by top management, weak legal framework, poor recruitment and ineffective control. Although having efficient corporate governance is worth pursuing, this depends on the power of top management, the strength of internal control procedures and the legal framework put in place by management

Corporate governance: challenges for banks in Nigeria

This paper focuses on the postconsolidation governance challenges in the Nigerian Banking Industry. It explores the basis for good governance and how the boards of banks can be more effective, bearing in mind that the relationships between the board and management on the one hand, and between the board and shareholders on the other, are at the heart of the corporate governance triangle. NESG Economic Indicators Vol. 12 (2) 2006: pp. 47-5

Corporate social responsibility in Nigeria: western mimicry or indigenous influences?

Drawing empirical evidence from indigenous firms, this study explores the meaning and practice of CSR in Nigeria. It was found that indigenous firms perceive and practise CSR as corporate philanthropy aimed at addressing socioeconomic development challenges in Nigeria. This finding suggests that CSR is a localised and socially embedded construct, as the waves’, ‘issues’ and ‘modes’ of CSR practices identified among indigenous firms in Nigeria reflect the firms’ responses to their socioeconomic context. It is anticipated that this paper will add to the body of knowledge on CSR, especially as it relates to Africa, which has a relative dearth of literature on CSR, and provide some insights to multinational firms operating in Nigeria