Purpose
This paper aims to analyze the importance and application of whistleblowing in the fight against fraud in Nigeria’s capital market.
Design/methodology/approach
Drawing from existing legislation and literature in the area, the paper (by adopting a doctrinal approach), analyzes the application of whistleblowing in the Nigerian capital market.
Findings
As a result of an inadequate legislative framework (a structure consisting mainly of mere policy directives and voluntary codes), whistleblowing is seldom used in Nigeria’s capital market.
Originality/value
This paper extends the body of knowledge in the area of whistleblowing in Nigeria’s capital market by not only identifying the non-utilization of the concept but also offers creative suggestions, which will help it is to normalize as a regulatory tool for reducing fraud in this sector.
Purpose
The purpose of the paper is to explore the legal and institutional frameworks for optimal regulation of capital market beyond compliance-based regulation, to enable the market to deliver on its strategic role as the enabler of efficient allocation of resources and economic growth.
Design/methodology/approach
The paper relies on doctrinal approach to assess the existing regulatory approaches and prospects for the future.
Findings
The paper found that the regulatory authorities unduly concentrate on compliance-based and sanction-based regimes without sufficient emphasis on innovations and transformative solutions that foster diversification and efficiency in the market. The paper also found that the deployment of innovations and transformative solutions complemented with robust regulation is positively correlated with capital market growth.
Originality/value
The paper offers fresh insights on the optimal approaches to regulation of capital market that transcend compliance-based and sanction-based regimes to reliance on innovative tools that expand, diversify and effectuate the functionality and utility of capital market.
The Nigerian Land Use Act (LUA), which governs contemporary Nigerian land law, provides that any disposition of land must have the prior consent of the appropriate authority under the LUA. However, the Assets Management Corporation of Nigeria Act, which regulates the disposition of eligible bank assets, contains provisions that imply that the requisite consent under the LUA is not required for the disposition of an eligible bank asset consisting of land. This article interrogates the propriety of the provisions of the Assets Management Corporation of Nigeria Act in this regard and argues that, in view of the fact that the LUA is a statute with constitutional flavour by virtue of its entrenchment in the Nigerian Constitution, the LUA's provisions supersede the provisions of any conflicting law.
Improving national social protection systems is a major task for all governments. This they can do through an effective implementation of the sustainable goals also called the Sustainable Development Goals (SDGs). The main purpose of social protection is to reduce poverty, economic shocks and vulnerability. This article examines the extent Nigeria has gone to in order to promote sustainable goals through the Social Protection Floor Initiative. The article also delves into the justiciability of socio-economic rights in Nigeria and in other jurisdictions like UK, India and South Africa which are commonwealth countries like Nigeria. It further recommends ways by which Nigeria can, through the Social Protection Floor Initiative, fulfil its obligations towards the attainment of the SDGs. A major conclusion of this article is that the Social Protection Floor Initiative is an important means for the government to achieve the Sustainable Development Goals, and an important aspect of this is ensuring the enforcement of socio-economic rights. Without implementing the Social Protection Floor Initiative, the Sustainable Development Goals mantra will be restricted just to TVs in Nigerian homes without any corresponding impact on the masses.
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