Corporate governance and responsibility in Nigeria

To provide an expository on the peculiar dimension of the corporate governance and responsibility phenomenon in developing market economies, we employ a mix of qualitative methods to provide research evidence-based insights into the nature, practice, complexity and environment of governance and accountability in corporate Nigeria. We aim to contribute to the budding literature on corporate governance in sub-Saharan Africa, while providing recommendations for practitioners and policy makers in terms of promoting effective corporate governance in developing countries

Corporate social responsibility in the oil and gas industry in Nigeria: the case for a legalised framework

This chapter focuses on the extant corporate social responsibility (CSR) practices in the oil and gas industry in Nigeria. The oil and gas industry has been beset by a lot of problems not limited to violence, kidnappings, eco-terrorism, and maladministration amongst others. One of the strategies of curing or mitigating these inherent problems in the oil and gas sector is the use of CSR initiatives by many oil multinational corporations (MNCs) operating in Nigeria. Notwithstanding that the majority of CSR initiatives in the oil and gas sector in Nigeria are voluntary, this chapter avers that CSR initiatives should be made mandatory by the Nigerian government. Furthermore, Civil Society Organisations (CSOs) should play an integral role in the implementation of any legalised framework on CSR that will be developed in the country. This chapter suggests that a CSR law should be developed specifically for the oil and gas industry to mitigate the negative externalities arising from the activities of oil MNCs in the Niger Delta region of the countryN/

Neither Principles Nor Rules: Making Corporate Governance Work in Sub-Saharan Africa

Open Access articleCorporate governance is often split between rulebased and principle-based approaches to regulation in different institutional contexts. This split is often informed by the types of institutional configurations, their strengths, and the complementarities within them. This approach to corporate governance regulation is mostly discussed in the context of developed economies and their regulatory demands. However, in developing and weak market economies, such as in Sub-Saharan Africa, there is no such explicit split and the debates on such contexts in the comparative corporate governance literature have been meagre. Nonetheless, there are sparks of good corporate governance practices in the region. Drawing from institutional theory and a case study of a largest economy, we explore the appropriateness or suitability of corporate governance regulatory frameworks in Sub-Saharan Africa. Our findings suggest that Nigeria needs an integrated system that combines elements of both rule-based and principle- based regulation, supported by a multi-stakeholder coregulation strategy. This paper departs from the mainstream rule-based and principle-based categorisations by forging ahead new perspectives on corporate governance regulation, especially in weak market economies

Multinationals, international business, and poverty: A cross-disciplinary research overview and conceptual framework

This article examines the role of multinationals and international business in poverty alleviation, based on an analysis of articles in the top journals in business, economics, and policy. We develop a conceptual cross-disciplinary framework that maps and disentangles the impact of different types of international business activities on five dimensions of poverty, moderated by country and industry effects. While our study suggests that the impact of all the types of business activities on poverty is still unclear overall, we contribute to research and policy debates by identifying key insights from and main gaps in this cross-disciplinary stream of literature. A distinction is made between firm effects as part of both ‘mainstream’ and ‘responsible’ globalization, and firm-specific activities with and without the explicit goal of poverty alleviation, considering investment and trade. We propose areas for further research based on the framework, including the importance of interaction effects and contextual factors