SAFEGUARDING MINORITY RIGHTS WITHIN THE SCOPE OF CORPORATE MANAGEMENT UNDER THE NIGERIAN COMPANY LAW

R.A. AKANDE & Amaebi Goodness AKIRI

Abstract


This seminar paper delves into the reality of safeguarding of minority rights under Nigerian Company Law. Minority shareholders, despite their limited influence, play a crucial role in the corporate structure, necessitating robust legal protections to ensure their interests are not overshadowed by majority stakeholders. The paper explores the legislative frameworks and judicial precedents that govern minority rights in Nigeria, highlighting key provisions in the Companies and Allied Matters Act (CAMA) and the role of the Corporate Affairs Commission (CAC) in enforcing these protections. It examines the efficacy of existing legal safeguards, such as the derivative action, injunctions, and unfair prejudice remedies, in maintaining a balanced and equitable corporate environment. Additionally, the paper discusses the challenges faced by minority shareholders in asserting their rights and proposes recommendations for enhancing the legal mechanisms to better serve their interests. By scrutinizing the interplay between corporate governance and minority protection, this paper aims to contribute to the discourse on fostering a more inclusive and just corporate management system in Nigeria.

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