DIRECTOR ACCOUNTABILITY AND REGULATORY ENFORCEMENT IN NIGERIAN MICROFINANCE BANKS: A CORPORATE GOVERNANCE APPRAISAL UNDER CAMA 2020 AND THE CBN CODE

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dc.contributor.authorAsonibare Adelowo Stephen
dc.date.accessioned2026-05-12T07:29:21Z
dc.date.available2026-05-12T07:29:21Z
dc.date.issued2016-04-28
dc.description.abstractThis article examines the effectiveness of director accountability and regulatory enforcement mechanisms in Nigerian microfinance banks within the framework of CAMA 2020 and the Central Bank of Nigeria’s Code of Corporate Governance for Microfinance Banks. Despite the existence of detailed statutory and regulatory governance standards, Nigerian microfinance banks continue to experience high levels of distress and failure largely attributable to weak board oversight, insider abuse, and regulatory non-compliance. The paper adopts a doctrinal and comparative approach to analyse the fiduciary duties of directors, the supervisory powers of the CBN, and the practical challenges of enforcement. It argues that the core governance problem in Nigerian microfinance banking lies not in regulatory insufficiency but in weak enforcement and limited personal accountability of directors. Drawing lessons from comparative regulatory practice, the paper proposes reforms aimed at strengthening director liability, enhancing regulatory discipline, and aligning corporate governance enforcement with the developmental objectives of microfinance banking in Nigeria.
dc.identifier.citationNnamdi Azikiwe University Awka Journal of Private and Property Law, NAUAJPPL 3(2) 2026
dc.identifier.issn2901-0870
dc.identifier.urihttps://kwasuspace.kwasu.edu.ng/handle/123456789/7024
dc.language.isoen
dc.publisherDepartment of Private and Property Law, Faculty of Law, UNIZIK
dc.relation.ispartofseries3; 2
dc.titleDIRECTOR ACCOUNTABILITY AND REGULATORY ENFORCEMENT IN NIGERIAN MICROFINANCE BANKS: A CORPORATE GOVERNANCE APPRAISAL UNDER CAMA 2020 AND THE CBN CODE
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