This study, democracy and good governance in nigeria. Merger control 2020 laws and regulations nigeria iclg. International journal of public administration and management. Ethnicity, religion, corruption undermine good governance in. Many nigerians are of the opinion that good governance is the only assurance to peace, progress, stability, free and fair elections. Official development assistance oda is the only international financial flow with the explicit aim of promoting economic development and poverty reduction in low and middle income countries. The crisis of democracy in nigeria journal of psychology.
The theory and practice of criminal justice in africa. In simple terms, the objective of the paper is to identify and discuss the challenges to democracy and good governance in the country and proffer suggestions for a better democratic nigeria. We are not a political or pressure group,we stand for. Many government institutions do not adequately engage with citizens or the private sector and lack the capacity to. Oh, how good governance has eluded you all these years. Munshis work was created in order to revive good governance. Good governance has been perceived as the most significant factor in eradicating poverty, inequality, as well as promoting development khan 2007. Many individuals tend to either wave away and be bored with the idea of governance, or not have a clue to what it has at all. The overall process to be used for determining toplevel organizational structure and staffing decisions should also be agreed upon. Paper presented at the conference on corporate governance, accra, ghana, 29 30 january, 2001. Democracy, political participation and good governance in nigeria.
Concerns about democratic governance first arose in discussions of economic development. The study makes recommendations for norways strategic approach to governance in nigeria based on a political economy analysis. The paper seeks to present a critical analysis of the corporate governance regulatory framework in nigeria and examine the offerings of the industryspecific codes of corporate governance. A bid to merge two of the groups companies raises wider questions. Zenith bank plc which presented its 2019 fullyear audited financials through the nigerian stock exchange last week in line with the postlisting requirement of the nigerian stock exchange, as well as global best practice in good corporate governance practice. To increase our understanding of performance at local levels of governance, ggaz conducted a citizen engagement survey in zimbabwe. The brookings institution is a nonprofit organization devoted to independent research and policy solutions. The benefits of regional economic integration for developing countries in africa. Political parties are capable of deepening good governance in nigeria, just like. As the largest economy and most populous state in the entire. A sick unit may be required to merge with a healthy unit to ensure better utilisation of resources, improve returns and better management. Nigerias union bank set be acquired by zenith bank. Ekundayo department of administration faculty of management sciences national open university of nigeria jabi, abuja, fct, nigeria.
Good governance theory and the quest for good governance in nigeria woleola j. Ever since the economy began to deteriorate in late 2008, ive been hearing stories about how there was going to be a huge wave of consolidations, mergers, and acquisitions in the nonprofit sector. The use of icts can connect all three parties and support processes and activities. It is often said that no country can develop beyond the level of its leadership. They are searching for solutions to improve the quality of public services, the effectiveness of public investment and the fiscal sustainability of public finances. Leadership development in africa a focus on strengths.
Democracy in nigeria is alien and its practice has proved difficult. Poor policies breed poor governance and create an appropriate. Financial globalization, governance, and the evolution of the home bias abstract we merge portfolio theories of home bias with corporate finance theories of insider ownership to create the optimal corporate ownership theory of the home bias. The erosion of good governance by the practice of democracy has deepened the crisis of democracy. This paper examines the issues and challenges around corporate governance in the nigerian banking industry.
Good governance or lack of good governance became the answer of the poor development in africa. Good governance and the anti corruption agenda gocafrs unpacking corruption. Corruption in nigeria united nations office on drugs and crime. Issues and prospects for national development, free undergraduate project topics, research materials, education project topics, economics project topics, computer science project topics, hire a data analyst. The good governance theory is associated with governing methods and structures in developing countries and it is particularly relevant to governance in nigeria because nigeria is a developing country. In practical terms, corporate governance is intertwined with decision queries as to whether. There are roadblocks to a strong democracy in nigeria at all levels of government. Merger control laws and regulations nigeria covers common issues in merger control laws and regulations including relevant authorities and legislation, notification and its impact on the transaction timetable, remedies, appeals and enforcement and substantive assessment in 55 jurisdictions. Corporate governance in nigeria1 nigerian law guru. As part of its ongoing efforts to address bank supervisory issues and enhance supervision through guidance that encourages sound risk management practices, the basle. Abstract this paper is based on good governance theory and its implications for good governance in nigeria it elucidates.
Pdf nigeria plays an inextricable role in africa international economic relations. Internal control systems 1 framework for internal control systems in banking organisations september 1998 introduction 1. Its coast in the south is located on the gulf of guinea in the atlantic ocean. Thirdly, good governance refers also to the consolidation of. These institutional issues merge gradually into a concern to promote diverse forums for dialoguea concern that is common among interpretive theorists. No fewer than 1,739 foreigners may have fled nigeria, following the fear of covid19, in a spate of ten days. A board of directors that is actively concerned with sound corporate governance and that. Secondly, the concept of good governance refers to the developmental potentials of the democratic challenge in africa as accountability, rule of law, freedom of expression and association and public choice of government are important elements of africas renewal.
The persons mentioned in this document are for contacts only, and are not the authors of this document. We advocate for good,responsible and responsive governance at all tiers of government. The good we secure for ourselves is precarious and uncertain until it is secured for all of us and incorporated into our common life. Introduction democracy is regarded as the most appropriate form of government in the modern times. 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. Adebisi akande dissolved the state council of obas and chiefs in 2001, on the ground that it was too large. Nigeria are expected to work, then, nigeria needs good governance so as to be able to actualise its potentials and improve the wellbeing of the citizens and development in geopolitical terms. However, through united action they were able to stop general pinochets efforts to extend his rule and subsequently won repeated multiparty elections. Politicians, political parties, electoral system, election umpire, civil society, and the electorate. Introduction democracy is the most acceptable form of government that guarantees the nations growth and development zekeri, 2007. Leadership and the challenges of good governance in nigeria.
When it comes down to it, merging nonprofit organizations is usually quite complicated with many board and management issues and often doesn. The results of the study hold both for the pooled sample of 2,004 firmyear observations and. Good governance the concept in the last twenty years, the concepts of governance and good governance have become widely used in both the academic and donor communities. Jane addams, twenty years at hull house garden city movement 1898 tomorrow. This paper examines the role of good governance and effective public administrative system in ensuring economic growth and stable polity. Pdf the challenges of good governance, accountability of. However, his definition of good governance is different from the one used by the rich countries in meting out aid to poor nations. Advisory councils do not have any governance responsibilities and are a good way to include former board members, potential board members, subject matter experts, and others in the work of the board without placing them on the board. This article examines the state of governance in nigeria and assesses the. Norad was requested to undertake the study by the norwegian embassy in nigeria. The dissolution may have been caused by a dispute between the then head of the royal council, the ooni of ileife and akande, in turn part of a faceoff between akande and. The report contains a preliminary representation of the research findings of the survey. Corporate governance regulatory framework in nigeria. In other words, in e governance electronic means support and stimulate good governance.
The third discusses the attributes of good governance and the nexus between good governance and public administration, while the fourth segment delves into the state of governance in nigeria from 1999 to date. The concept of governance and leadership are intertwined. They bridge three distinct practitioner communities that emerged from this new directionthose focusing on governance, on democracy, and on human rights. Conflict and sustainable democratic good governance in. Criminal justice cannot be separated from democracy inasmuch as its. Governance and political leadership in nigeria have been driven by. The bad governance of the african governments was claimed to be the reason why economic reforms had not had the desired effect, and democracy, as the essence of good governance, became the new development issue. Conflict and sustainable democratic good governance in nigeria. Governance in africa, says the chairman of the south commission, must be improved for the continents countries and people to build real freedom and real development. Good governance theory and the quest for good governance. The challenges of good governance, accountability of governmental agencies and development in nigeria.
Deparment of political science emmanuel alayande college of education oyo, oyo state, nigeria abstract there is a cordial relationship between good governance and the existence of peace and stability in the society. Good corporate governance should provide proper incentives for the. One such area of concern is the growing criminalization of politics in the saarc south asian association for regional cooperation member countries, which in my opinion constitutes today a serious threat and challenge to both democracy and good governance. In the banking sector good corporate governance practices are regarded as important in reducing risk for investors, attracting investment capital and improving the performance of companies. Pathway to sustainable national development in nigeria. Speaking on the importance of corporate governance, the former central bank governor, sanusi lamido sanusi once stated that good corporate governance is an important step in building market confidence and encouraging stable, longterm international investment flows into the country. In this regard, like the legal system in nigeria, corporate governance practices mirrored the. Good governance group archives the guardian nigeria news. Political parties as instrument of deepening good governance in. National, regional and international intervention to eradicate corruption. Poor corporate governance and corporate failure lpc solicitors. Nigerian current news, headlines, interviews, politics.
Promoting land administration and good governance accra, ghana, march 8 11, 2006 contents 1. Banks merged as a result of this reform bringing about financial solvency and economic. Th e theory and practice of criminal justice in africa. Leadership philosophies like ubuntu allude to a feeling of high responsibility for ones kin, loyalty. Welcome to the latest edition of the africa survey, good governance africas annual compendium of fast facts and indicators related to the continent. The nigeria political stage have substantial numbers of stakeholders, such as. Good governance and leadership is critical for the achievement of results. The work of good governance africa zimbabwe ggaz is defined by the promotion of factbased knowledge. An additional source of good governance criticism is the intelligent persons guide to good governance, written by surendra munshi.
The world knows less about what makes for good corporate governance than it likes to think. Good governance nigeria advocacy group home facebook. Corporate governance is the term used to describe the balance among participants in the corporate structure who have an interest in the way in which the corporation is run, such as executive staff, shareholders and members of the community. Role of civil society in the good governance agenda. The school draws attention to the potential negative consequences of free interaction between politics and.
First, there is the academic approach, which focuses mainly on the study of. Smart aid fights disease, provides lifesaving nutrition and healthcare, supports education opportunities, and promotes good governance. Over the years, the federal government of nigeria has adopted egovernance technologies to. Saving distressed banking systems rescuing failing banks. Institutional shareholder services is the worlds leading provider of corporate governance and responsible investment solutions. The study looks at the challenges and prospects associated with leadership and good governance in nigeria within the first decade of the fourth republic. The guardian nigeria newspaper brings you the latest headlines, opinions, political news, business reports and international news. This is because there would have been no nigeria as a state if colonialists had not merged together erstwhile independent communities and named it nigeria. Internal audit and organizational governance 27 the institute of internal auditors research foundation are set, and the means of attaining those objectives and monitoring performance are determined. Its mission is to conduct highquality, independent research and, based on that research. Good governance in africa 4 about the land that supports them. Centre for good governance is an institution to guide governance reforms by bringing together and harnessing the power of knowledge, technology and people. Nigeria is the word good even when many nigerians have identified good governance as the s ine qua non for peace, progress, stability, free and f air elections.
Oecd multilevel governance studies governments at all levels are increasingly required to do more and better with less. Conflicttriggered by political competition and communal, ethnic, religious or resource allocation rivalriesposes a major threat to democracy. Nigeria, my belove country, my birthplace, my home and my pride. Dec 20, 20 a chieftain of the all progressives congress apc, mr osita okeckukwu, says ethnicity, religious bigotry and corruption are the major factors militating against good governance in the country. Earl lathans described a society as a simple universe of groups which combine, break and form. Secretariat and the african development bank submitted a request to the nepad infrastructure project preparation facility ippf in july 2009 for financial support towards the cost of undertaking the sector studies for the programme for infrastructure development in africa pida. Composition, structure, duties and powers by paul l davies.
It is exploratory because the paper attempts the nature of legislative proceeding and law making to address good governance by espousing the. A study in political economy and donor support, is published by norad here. The us, and other countries, have diverted development aid from where it would be most effective, blurring it into military spending for its allies in the war on drugs most significantly in latin america. Corporate governance as indicated by audit quality, audit committe e expertise and independence, and board independence and board shareholding mitigates the negative effect of default risk on erc. International journal of politics and good governance volume vi, no. Challenges and prospects is a descriptive analysis that has relied on the use of secondary data as its source of information. This resulted in the publication of the 2003 sec corporate governance code and presently a revised sec code 2011. Democracy, good governance, election, electoral management. Corporate governance economist world news, politics.
What we do know is that ideas about leadership are tied to culture, religion, educational background, and language. Good governance implementation aalborg universitet. Pdf effective leadership for good governance in nigeria. Corporate governance and merger activity in the nigerian banking. Research about a project providing training to local radio stations to strengthen advocacy. Administration and good governance 5th fig regional conference accra, ghana, march 8 11, 2006 charting nigerian waters for safer navigation chief innocent egbuh,mnis ceo, aero geodet ic services nig l td. Accountability, transparency, participation, and inclusion represent vital embodiments of the opening to politics that occurred in development work in the 1990s. This is closely followed by the role of good governance and public administration in development. 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. Good governance has been perceived as the most significant. The federal airports authority of nigeria faan confirmed this, noting that the foreigners were all evacuated from nigeria through the murtala muhammed international airport mmia, lagos since the evacuation exercise read more. In another attempt to enthrone good governance in the country, recent democratic administrations, organized good governance tours, where officials of the federal ministry of information alongside journalists from various media.
Ademola oyejide and adedoyin soyibo development policy centre ibadan, nigeria. These two traditions have dissimilar conceptualisations. To provide an expository on the peculiar dimension of the corporate governance and responsibility phenomenon in developing market economies, we employ a mix of qualitative methods to provide research evidencebased insights into the nature, practice, complexity and environment of governance and accountability in corporate nigeria. Although humans make millions of decisions in many ways, if stripped to the core, like peeling the layers off an onion, underlying even the most sophisticated decision making lies a basic framework. Umoren and olokoyo 2007 studied merger and acquisition in nigeria. Corporate governance and responsibility in nigeria. Good governance theory and the quest for good governance in. The good governance group g3, a group of likeminds with. Good corporate governance aligns the actions of executive management with the interests of shareholders. With the return of democratic governance to nigeria, the study of the relationship between leadership and good governance for national development has become an imperative. A theoretical and philosophical exposition adeleke, g. 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. The atedo peterside led committee on corporate governance was commissioned by the securities and exchange commission sec to consider corporate governance issues in nigeria.
It further identifies the challenges arising from the multiplicity of corporate governance codes and suggests the way forward. Two states may merge to form a new state egypt and syria were united in 1958 to form the united arab republic. Financial globalization, governance, and the evolution of. The basic purpose of this study is to xray the relationship between good governance and democracy and to identify those factors that militate against good.
Work on our digitisation project continues in earnest, as the print version simply cannot contain the volume of data that continues to amass. In the case of a joint venture arrangement, the governance structure of the partnership and specific issues for approval need to be agreed upon. Analysis of performance pre and post consolidation of thirteen mega banks in order to consider if there had been improvements. 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. In every society what matters is not which political system is the best but whether the society is democratic or not. There is always a synergy between purposeful leadership and good governance.
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