Failed Corporate Entities In Nigeria: An Indictment On The Shareholders, Corporate Managers And The Regulatory Agencies?

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Kingsley Adeyi Omengala

Abstract

Over the years several corporate entities have gone down the drain in Nigeria and the shareholders and other stakeholders exposed to humongous loss of their investments and means of livelihood. The impact of these failures, no doubt, distracts from the overall economic growth of the country and significantly impugn on the confidence of investors in the capacity of the economy to sustain their investments and guaranty the expected return on such investments, thereby discouraging them from engaging in the huge investment opportunities available in the country. This paper seeks to examine the roles of shareholders, corporate managers, and the regulatory agencies, in the light of extant statutory framework, and the lapses in the performance of these roles resulting in these unfortunate developments in the corporate world and offers suggestions on how these negative narratives can be checkmated.

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