Achieving Good Corporate Governance in Public Companies through Directors’ Liabilities: A Multi-Jurisdictional Discourse

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dc.contributor.authorAdebayo, Bamidele Olasehinde
dc.date.accessioned2022-05-09T12:37:40Z
dc.date.available2022-05-09T12:37:40Z
dc.date.issued2021
dc.description.abstractGlobally, several legislations make provisions for directors’ duties and liabilities. These range from Asia, to America, to Europe and Africa. For example, the English Companies Act (CA) 2006 codifies the general duties of directors, replacing previous common law and equity principles concerning directors’ duties to the Company. The Nigerian Companies and Allied Matters Act (CAMA), 2020 also specify the roles of directors and make provisions that enhance good corporate governance; and the Kenyan Code of Corporate Governance made similar provisions regarding corporate governance. The quest to achieve good corporate governance in public companies is indispensable judging from corporate failures in other jurisdictions, such as the collapse of corporate giants like Enron and Worldcom, among others. Many stakeholders are interested in how public companies are governed, and this requires that officers, especially directors entrusted with the responsibility of managing them must be above board and would, therefore, be liable for their negligence, omission, commissions, or acts that are inimical towards achieving good corporate governance in those companies. This paper, through the use of comparative, doctrinal, and non doctrinal approaches, discusses the types of liabilities that directors of public companies can incur and the circumstances under which those liabilities are incurred. The article calls for stiffer sanctions to curb directors’ excesses in managing public companies in Nigeria. It recommends robust allowances and adequate prerequisites of office to motivate directors and to discourage fraudulent practices. It concludes that the Company’s overall interests must be paramount in all decisions and actions of directors so that the corporate goal can be achieved.en_US
dc.identifier.urihttp://dspace.run.edu.ng:8080/jspui/handle/123456789/2914
dc.language.isoenen_US
dc.publisherCarnelian Journal of LAW & POLITICS. Babcock University, Ilisan Remo, Ogun State, Nigeriaen_US
dc.relation.ispartofseriesVol. 2 No. 2,;
dc.subjectCAMA 2020en_US
dc.subjectCorporate governanceen_US
dc.subjectPublic companieen_US
dc.subjectDirectors’ liabilityen_US
dc.titleAchieving Good Corporate Governance in Public Companies through Directors’ Liabilities: A Multi-Jurisdictional Discourseen_US
dc.typeArticleen_US
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