Pdf this article argues that bad governance and corruption particularly in the northern part of nigeria have. By victor banjo corporate governance and board effectiveness coach. I welcome the opportunity to address this august body. A situational analysis of abia, ebonyi, imo and kaduna states 3 acknowledgement understanding the context and issues for any intended voice and accountability program that contributes to good governance reforms remain critical to any sort of planned intervention, and we are thankful to th ose that have made. The country is beset with excessive corruption, acute unemployment, poverty, ethnoreligious conflicts and lack of infrastructural facilities. Corporate governance regulatory framework in nigeria. The financial reporting council of nigeriafrc has said that the much deliberated national code of corporate governance nccg for the country would take effect in the first quarter of 2016.
The nccg, which comes about two years after the suspension of the earlier 2016 draft, is made pursuant to the powers of the frc under section 11c and section 51c of the financial reporting council of nigeria act, 2011 in line with international best practices on corporate governance. In nigeria, the issue of corporate governance has been given the front burner status by all sectors of the economy. Advocates of the reforms tout their potential not only for generating greater economic growth, but also for contributing to more responsible corporate governance. Board of directors and corporate governance in nigeria kunle aina department of private and business law, faculty of law, university of ibadan, ibadan, nigeria. In particular, the committee was given the mandate to identify weaknesses in, and constraints to, good corporate governance, and to examine and recommend ways of. National code of corporate governance effective 2016.
Ekundayo department of administration faculty of management sciences national open university of nigeria jabi, abuja, fct, nigeria. Nigerias national code of corporate governance ethical. Corporate governance issues in the nigerian banking industry. Effective leadership for good governance in nigeria. This paper examined the link between bad governance and perpetuation of insecurity in nigeria. Democracy in nigeria is alien and its practice has proved difficult. Do central governments transfer resources to subnational authorities based on extraction of mineral resources.
Leadership and the challenges of good governance in nigeria. Ademola oyejide and adedoyin soyibo development policy centre ibadan, nigeria. Pdf the draft nigerian code of corporate governance 2018 presentation by daniel asapokhai. Pdf the study makes recommendations for norways strategic approach to governance in nigeria based on a political economy analysis. Summary understanding the structure of the nigerian state gives a better understanding as to why government spends billions monthly in salaries. Related links ipsasbs exposure drafts the council invites you to comment on ipsasbs exposure drafts no. After the introduction, the paper makes some conceptual clarifications and delves into some models of egovernance, and there after took a cursory look at the challenges of implementing egovernance in nigeria before making some recommendations. International journal of advanced legal studies and governance vol. The spillover effects may be felt not only across nigeria but also within the. Looking at leadership and good governance as defined above, it will therefore means that fostering positive change for the good of the whole, based on inherently acceptable values as outlined in the characteristics of good governance presents us with the desired leadership for attaining governance that is participatory, accountable, transparent, responsive, equitable. Paper presented at the conference on corporate governance, accra, ghana, 29 30 january, 2001.
Environment, good governance, sustainability, mdgs, lagos state, nigeria. Despite these constitutional provisions, as well as the enormous financial resources, and huge potentials of the country, including the social and economic policies that have been implemented by successive administrations good governance continues to be elusive to nigeria. Introduction nigerias independence in 1960 from britain was greeted with keen interest. In recent years, international economic pressures have induced nigeria to adopt a program of economic liberalization and deregulation.
Its governance structure comprises of three tiers the federal, state and local governments. The paper seeks to present a critical analysis of the corporate governance regulatory framework in nigeria and examine the offerings of the industry. The provisions of this code represent the minimum standard which banks shall comply. Bad governance is the unfavourable relationship between those who govern and those who. Request pdf on oct 31, 2017, jamilu ibrahim mukhtar and others published bad governance and insecurity in nigeria find, read and cite all the research. Public officials keep computer files relating to requests received from citizens and. Challenges and prospects 3 volume xv issue iii version i 2 global journal of human social science 2015 global journals inc. Good leaders are those who build teams to get across a variety of situations horgan. Nigeria state and local governance in nigeria english abstract.
D abstract corruption is the major vice militating against good governance and societal development in nigeria. Following a federal high court ruling on 17 october 2016 that the financial reporting council of nigeria frc has the powers to issue codes and, in accordance with section 50 of the frc act 2011, the frc released the national code of corporate governance 2016 on the same day almost three years later than the. This article argues that bad governance and corruption particularly in the. Governance and political leadership in nigeria have been driven by. The focus of this study was to explore corporate governance issues in the nigerian banking industry and provide.
Bad governance and insecurity in nigeria request pdf. Following a federal high court ruling on 17 october 2016 that the financial reporting council of nigeria frc has the powers to issue codes and, in accordance with section 50 of the frc act 2011, the frc released the national code of corporate governance 2016 on the same day almost three years later. Ict and egovernment in nigeria prof akunyili nkpuhe. For instance, the securities and exchange commission sec set up the peterside committee on corporate governance in public companies. Democracy, political participation and good governance in. This paper examines the role of good governance and effective public administrative system in ensuring economic growth and stable polity. The draft nigerian code of corporate governance 2018 for your. Many of the generally acknowledged global environmental problems greenhouse. Many government institutions do not adequately engage with citizens or the private sector and. Nigeria, governance, corruption, militancy, boko haram, democracy. Numerous key studies such as aprm report on nigeria, unecas african governance report, nigeria aprm country selfassessment report. Nigeria is not left out of this phenomenon as similar financial and accounting scandal has enshroud which include the banking sector with 26 banks liquidated in 1997 and the falsification of the company and financial statement in cadbury nigeria plc. Pdf effective leadership for good governance in nigeria.
Committee also set up a subcommittee on corporate governance for banks and. Voice and accountabilitypolitical stability and absence of violencegovernment effectivenessregulatory qualityrule of lawcontrol of corruption the worldwide governance indicators. Using theoretical arguments, the paper holds that, the current security challenges that bedeviled nigeria are attributable to injustice, corruption and. The study makes recommendations for norways strategic approach to governance in nigeria based on a political economy analysis. The study highlights that after the return of civil rule in 1999, democracy has not achieved good governance in nigeria.
The worldwide governance indicators wgi project reports aggregate and individual governance indicators for over 200 countries and territories over the period 19962018, for six dimensions of governance. Public administration and local government university of. Legislative oversight as a critical component of good. The purpose of this study is to increase knowledge about state capacity in nigeria by taking stock of governance issues, including public financial management and civil services, and analyzing them in representative states across the regions, as states. The national corporate governance code 2016 the super. International journal of politics and good governance volume 5, no. The possible causes of insecurity in nigeria such as bad governance. After the gradual incorporation had been achieved, britain then sought. Egovernance in the public sectorelectronic governance and administration is very relevant in the discourse on modern usage of technology in the world of public administration. Article history abstract received 10 july, 20 received in revised form 20 september, 20 accepted 27 september, 20 key words. Public administration and local government university of nigeria. The study makes recommendations for norway s strategic approach to governance in nigeria based on a political economy analysis. At the great ife alumni association 21st biennial convention lecture held at great oduduwa hall, oau ife, 23rd may, 2014 preamble the rule of law is not a mere adornment to development.
The world has become a global village where every nation including nigeria is striving to. Governance, nigeria, challenge, national development, fourth republic. Voice and accountabilitypolitical stability and absence of violencegovernment effectivenessregulatory qualityrule of lawcontrol of corruption the. As a result, the central bank of nigeria cbn removed 8 of 24 nigerian corporate financial leaders ezeoha, 2011. Nigeria is a federal republic comprised of federal, states and local governments, which manage their fiscal affairs independently. Since nigerias issue for the nigeria government in recent years. Norad was requested to undertake the study by the norwegian embassy in nigeria. Good governance theory and the quest for good governance in. Corporate governance for licensed pensions operators 2008. Dec 29, 2015 the financial reporting council of nigeria frc has said that the much deliberated national code of corporate governance nccg for the country would take effect in the first quarter of 2016. Raji national institute for freshwater fisheries research pmb 6006, new bussa, niger state, nigeria.
Trend analysis of poverty and urban crime in nigeria since 1999. Nigeria rwi index questionnaire back indicator score 5. E governance in the public sectorelectronic governance and administration is very relevant in the discourse on modern usage of technology in the world of public administration. Democracy and political participation are related to good governance are interrelated and complementary but appear to be antithetical in nigeria. The quest to cut the cost of governance in nigeria doesnt necessarily have to affect the judiciary. A weapon for the fight against corruption in nigeria by john danfulani ph. The vision 2020 trumpet has been rising to a deafening pitch as nigeria is aspiring to joining the league of the first 20 industrialized economies in the wo. Abstractafter 55 years of political independence, nigeria continues to grapple with the challenges of democratic transformation and good governance. Good governance as a possible criteria for governance in the country. Good governance theory and the quest for good governance. High cost of governance and the challenges of national. The national corporate governance code 2016 the super code. It is a weak democracy that repudiates inalienable ethos of its true identity.
Corporate governance in nigeria1 nigerian law guru. Factors result of bad governance, poverty and unemployment such as. Igbalajobi muiliu political science department college of education, ikereekiti, ekiti state, nigeria email. Newly released national code of corporate governance 2016. After the introduction, the paper makes some conceptual clarifications and delves into some models of e governance, and there after took a cursory look at the challenges of implementing e governance in nigeria before making some recommendations. Documents were also obtained from major anticorruption agencies such as.
This code of corporate governance practices was based on unitary board structure as in the uk and usa with emphasis on the identified triple constraints. The causes of instability in nigeria and implications for the united. One of the vexing issues bedeviling nigeria in recent years has been the. There are roadblocks to a strong democracy in nigeria at all levels of government. Banks are however encouraged to aspire to higher standards. Good governance theory and the quest for good governance in nigeria woleola j. Abstract this paper is based on good governance theory and its implications for good governance in nigeria it elucidates. The draft nigerian code of corporate governance 2018 for. Jim obazee disclosed this while addressing the press at of the 12th annual corporate financial reporting summit held. The vision 2020 trumpet has been rising to a deafening pitch as nigeria is aspiring to joining the league of the first 20 industrialized economies in the. Many government institutions do not adequately engage with citizens or the private sector and lack the capacity to. The role of information and communication technologies cucen2017 rahim et al. Although, the british did not leave a large civil service system, it left a civil service that was efficient and effective. Looking at leadership and good governance as defined above, it will therefore means that fostering positive change for the good of the whole, based on inherently acceptable values as outlined in the characteristics of good governance presents us with the desired leadership for attaining governance that is participatory, accountable, transparent, responsive, equitable, effective and efficient.
Civil service, development, democratization, good governance, nigeria introduction the civil service model being operated in nigeria has its origin in british colonial administration. Bad governance international society for development and. The paper contends that good governance is crucial to economic growth because it enhances human development which in turn is the pivot around which other developmental activities revolve. This article examines the state of governance in nigeria and. Good governance could generally be described as governance that meets or satisfies the yearnings or needs of the people in terms of development and. Nigeria has a fair share of corporate governance crises prompting her continuing efforts to develop corporate governance codes to regulate and instill responsible behaviour in industry operators.
This governance profile is thus prepared with background research from nigerias socioeconomic and political history. In order to improve corporate governance, the securities and exchange commission, in september 2008, inaugurated a national committee chaired by mr. Board of directors and corporate governance in nigeria. Governance for the public sector will not be applicable immediately until an executive directive is secured from the federal government of nigeria. This chapter will enable you come to the knowledge of the shifting paradigm in public service. Bad governance and poor leadership only result in underdevelopment and political instability ologbenla, 2007. Pdf bad governance and insecurity in nigeria international.
Nigeria state and local governance in nigeria english. Conflicttriggered by political competition and communal, ethnic, religious or resource allocation rivalriesposes a major threat to democracy. Senior researcher inge amundsen of cmi was in charge. A variable tool for nation building in nigeria akinlade, m. Currently, the country has a total of 36 states and 774 local government areas. Corporate governance mechanisms and financial performance of.
1502 769 880 1419 1554 748 1219 464 1545 208 1053 531 1224 969 1159 282 1169 1566 1459 41 1051 29 741 1173 112 606 569 419 1065 370 1481 892 934 1280 495 879 1110