Exploring and Critiquing Corporate Law Practice in Nigeria: Legal Essays in Corporate Governance, Directorship, Taxation, Business Vehicles, and Other Business Combinations
This integrative work comprised seven doctrinal peer-reviewed publications produced between 2020 and 2022. The publications aimed to enhance understanding of the dynamics and regulatory complexities in corporate governance (CG), directorship, taxation, business vehicles, and other business combinations in Nigeria. The publications explored six important facets of corporate law practice in Nigeria, namely (i) the challenges and prospects of the Limited Liability Partnership (LLP) and the Limited Partnership (LP) in Nigeria (ii) the potential impact of CG in Nigeria (iii) the efficacy of one-person companies in Nigeria (iv) the legal impact of the Finance Act 2019 on taxation, mergers, and other business combinations in Nigeria (v) existing frontiers of directorship in Nigeria and (vi) the regulatory and jurisprudential frameworks for Incorporated Trustees in Nigeria. This integrative work presents the publications in reverse chronological order, with the most recent (Publication 7) appearing first, followed by the least recent (Publications 6 through 1). Corporate law practice is significant in Nigeria because it serves as a vital mechanism for fostering economic development and enhancing investor confidence. It provides a regulatory climate for transparent and accountable business operations. The publications addressed critical gaps in knowledge concerning the laws regulating LLPs and LPs in Nigeria, CG practice, and the operation of one-person companies in Nigeria. Drawing comparative insights from India, Singapore, South Africa, and the UK, they also contributed original perspectives on addressing the impact of the Finance Act 2019 on taxation, mergers, and other business combinations in Nigeria. Additionally, the works expanded the discourse on directorship and proposed reforms to the legal regime governing incorporated trustees in Nigeria. Notably, they identified the jurisprudential basis for regulating incorporated trustees under Nigeria’s Companies and Allied Matters Act 2020. They also offered recommendations for resolving the tensions arising from the Federal Government’s regulatory role, especially concerns related to section 839(1), which allows the Corporate Affairs Commission to suspend trustees under certain conditions. Collectively, while each of the seven publications individually contributes to the body of knowledge, together they illuminate six key aspects of corporate law practice in Nigeria. Although some recommendations from these publications have been implemented into Nigeria’s corporate law practice, others remain unimplemented. This integrative work draws on the latter to propose targeted suggestions essential for improving Nigeria’s corporate law in the areas examined.
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