Browsing by Author "Nwazi, J.N."

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    ENHANCING CORPORATE GOVERNANCE THROUGH THE FINANCIAL REPORTING COUNCIL OF NIGERIA: A COMPREHENSIVE ANALYSIS OF FRCN'S ROLE AND IMPACT UNDER THE FRCN (AMENDMENT) ACT 2023
    (Faculty of Law, Al-Hikmah University, Ilorin, 2024-12-01) ASONIBARE ADELOWO STEPHEN; Umoru, G.L.; Nwazi, J.N.
    This paper presents an in-depth examination of the Financial Reporting Council of Nigeria's (FRCN) role in advancing corporate governance, with a particular focus on the implications of the recent revisions introduced by the FRCN(Amendment)Act 2023. The analysis delves into the progression of the FRCN's functions, emphasizing its regulatory, supervisory, and enforcement duties. The study investigates how these legislative updates are designed to fortify corporate governance structures, enhance transparency, and promote adherence among Nigerian companies. Through a review of recent legislative efforts, the paper assesses the possible FRCN's success in tackling governance issues, thereby elevating financial reporting standards, and building investor trust. The results indicate that the amendments to the FRCN Act represent a pivotal advancement in the modernization of corporate governance in Nigeria, providing valuable perspectives on its potential effects on the corporate sector.
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    Theoretical Background of Corporate Governance in Nigeria
    (Department of Business and Private Law, Faculty of Law, Kwara State University, Malete, 2024-11-01) ASONIBARE, A.S.; Umoru, G.L.; Nwazi, J.N.
    This article delves into the theoretical foundations of corporate governance, focusing on the Nigerian context. It begins by defining corporate governance and discussing key theories, including Agency Theory and Stakeholder Theory, while acknowledging the importance of other theories. The evolution of corporate governance in Nigeria is highlighted through significant regulatory frameworks, notably the Companies and Allied Matters Act (CAMA) and the role of the Nigerian Securities and Exchange Commission (SEC). The article addresses critical challenges such as corruption, transparency, and the impact of the unitary board system, while evaluating recent reforms and improvements. By comparing Nigerian practices with international standards, it identifies areas of alignment and divergence. The conclusion synthesizes key findings, offering targeted recommendations for enhancing corporate governance in Nigeria and suggesting future research directions. This analysis serves as a valuable resource for policymakers, business leaders, and scholars interested in governance practices within emerging markets.