A conflict of interest occurs when an individual is involved in multiple interests, one of which could possibly corrupt the motivation for an act in the other. It is inevitable that Directors will face situations of potential conflict of interest with the companies they serve. The “Agency Theory” postulates that Shareholders are principals and Management […]
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Ajibola Edwards of Adeniji Kazeem & Co. Ajibola has joined IR as our exclusive Commercial Law Member in Nigeria. “AK&Co. was founded in 1996 as a provider of value added and quality legal services to the Nigerian and International Business Community. […]
1. What impact has the 2016-2017 recession in Nigeria had on the corporate sector? During the period, the high cost of foreign exchange, high cost of energy led to high cost of production and reduced competiveness. Consequently, the operations of some companies were shut down. In order to survive, many companies reduced production by close […]
Our book titled “Impact of Nigeria’s Legislations and Business Practices on Foreign Investments” is out on www.morebooks.com. The book introduces expatriates to the business climate in Nigeria and the regulatory framework for carrying on business in Nigeria. The book is set out to give expatriates and foreign businesses a good grasp of what to expect […]
Under Section 6 (6) of the 1999 Nigerian Constitution, Nigerian legislations and powers of the courts extend to all matters between persons or between government and any person in Nigeria, and to all actions and proceedings for the determination of any question as to the civil rights and obligations of that person. This means a […]
The basis of money laundering arise from the intention of persons involved in illicit businesses or crimes or government officials with proceeds from corruption who want monies obtained from these illegal sources to appear legal by placing such monies in a legal business so that its illegitimate source will not be detected by financial institutions […]
In the course of business, it is inevitable that disputes will arise occasionally among business associates. While commercial disputes are common, the way they are handled can have a profound impact on the profitability, viability and survival of the business. It is true that full blown disputes are always bad news for a business venture […]
Laws and Regulations The key legislations include; Companies and Allied Matters Act (“CAMA”) – Banks operating in Nigeria are corporate bodies which must be incorporated as a company in compliance with the requirements of CAMA. The Banks and Other Financial Institutions Act (“BOFIA”) prescribes that all Banks must possess a valid license issued under BOFIA […]
Corporate strategy is the overall scope and direction of an organization and the way in which its business operations work together to achieve particular goals in the short, medium and long term. A pivotal role of the Board of Directors is to provide leadership in the development of a Strategic Plan for the organisation. The […]
The effectiveness of corporate Boards through adherence to corporate governance best practices continues to receive a lot of regulatory attention and the requirement to appoint Independent Directors is one of the several interventions by regulators in this regard. A recurring provision in the various Codes of Corporate Governance is that the Board of a listed […]
The various Codes of Corporate Governance provide that Boards should undertake an annual appraisal of the performance of the Board, Board Committees and of individual Directors. The Report of this assessment is in some cases required to be sent to the industry regulator and presented to the shareholders at a general meeting. Many Boards have […]
Boards function well when Directors work as a team. When they have common objectives and a shared vision, are driven by a sense of commitment to attaining those objectives and actualizing the vision, Directors add immeasurable value to the Board and the Company. An effective Board is one composed of individuals who can leverage their […]