CORPORATE CRIMINAL LIABILITY AS A PANACEA FOR GOOD CORPORATE GOVERNANCE PRACTICES

Abstract

The issue of criminal liability of corporate bodies has engaged various experts and their views on the topic are as varied as the writers on the subject. The research sets out to unveil whether corporate bodies can be criminally accountable for their actions and if the answer is yes, what are the offences for which they can be held liable. The research adopted a qualitative methodology using primary and secondary data input-mechanism. The primary data comprised of case law and statutes including relevant corporate codes. Secondary data are gathered from valuable literature such as journal articles and on-line materials. The findings reveal that corporate bodies can be held criminally liable for different malfeasance as provided by law. In Nigeria corporate bodies cannot be held liable for offences like murder, manslaughter and robbery due to their specific penalties that prescribe imprisonment or death. Corporate bodies cannot be imprisoned or killed as it were. The paper recommends comprehensive corporate behaviour and approaches that will keep every good corporate citizen out of trouble thereby enhancing their corporate image in the short- and long-term basis.