Legal appraisal of corporate governance and gender diversity on Nigeria's corporate board.

Eyitayo, Adewumi; Veronica, Ekundayo; Temitope Omotola, Odusanya

Abstract

This study examined the legal appraisal of corporate governance and gender diversity in Nigeria’s corporate boards. In spite of gender disparity recognized internationally and attempt to solve it, gender diversity in the corporate world in Nigeria does not seem to have captured it. Thus, this study investigated why Nigerian corporate boardrooms are not gender balanced, explored the effects of corporate governance on gender diversity, and how Nigerian corporate boards can become composed with regard to gender diversity. The study was anchored on the feminist philosophy of law which is considered apposite as its theoretical frameworks. This research adopted the qualitative, descriptive research design as the most appropriate to effectively carry out this study. Thus, since it was explorative and majorly qualitative in nature, data was be obtained from secondary sources. Sources were collected from relevant textbooks, journal articles and e-resources from the internet. Data were content analyzed. Studies revealed that despite the global trends, facts, access to equal opportunities, international laws, and codes launched, there are still impediments of having women occupy top executive boardroom positions in Nigeria. Further study found that there is institutional discrimination implemented in the Nigerian corporate structure that is preventing greater representation of women in the boardroom. This paper, therefore, concluded that a gender-diversified corporate boardroom is a balanced board, essential for a good and ethical business sense because the recruitment of more women will bring diverse opinions on the board. This means that there is a need to do a lot in Nigeria to effect a positive and unchallengeable change in the legal and social framework that promotes participation in the formal sector. Finally, the study recommended that shareholders, stakeholders and non-governmental organizations (NGOs) should make the latest FRC’s Code, a primary legislative mandatory quota, as a legal measure and sanction in order to combat the issue of boardroom gender diversity in Nigeria.

Citation

EYITAYO, A., VERONICA, E. and OMOTOLA, O.T. 2020. Legal appraisal of corporate governance and gender diversity on Nigeria’s corporate board. International journal of law [online], 6(2), pages 186-191. Available from: https://www.lawjournals.org/assets/archives/2020/vol6issue2/6-1-52-196.pdf

• Journal Article Type: Article
• Acceptance Date: Jan 20, 2020
• Online Publication Date: Feb 6, 2020
• Publication Date: Jun 30, 2020
• Deposit Date: Jul 7, 2023
• Publicly Available Date: Jul 25, 2023
• Journal: International Journal of Law
• Electronic ISSN: 2455-2194
• Publisher: Gupta Publications
• Peer Reviewed: Peer Reviewed
• Volume: 6
• Issue: 2
• Pages: 186-191
• Keywords: Balanced boardrooms; Boardroom gender diversity; Business enterprise; Capital market; Corporate governance
• Public URL: https://rgu-repository.worktribe.com/output/2002402
• Publisher URL: https://www.lawjournals.org/archives/2020/vol6/issue2/6-1-52