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Article
Publication date: 28 June 2021

Edith O. Nwosu, Uchechukwu Nwoke, Collins Chikodi Ajibo, Fochi Nwodo and Ikenna Okoli

This paper aims to analyze the importance and application of whistleblowing in the fight against fraud in Nigeria’s capital market.

221

Abstract

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.

Details

Journal of Financial Crime, vol. 28 no. 4
Type: Research Article
ISSN: 1359-0790

Keywords

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Article
Publication date: 4 March 2021

Edith O. Nwosu, Collins C. Ajibo, Uchechukwu Nwoke and Ikenna Okoli

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…

205

Abstract

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.

Details

Journal of Financial Crime, vol. 28 no. 2
Type: Research Article
ISSN: 1359-0790

Keywords

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Book part
Publication date: 14 December 2020

Ogechi Adeola, Uchenna Uzo and Adedeji Adewusi

The Igbo people of south-eastern Nigeria are generally acknowledged as traders and astute entrepreneurs. Extant literature has investigated the various indigenous practices of…

Abstract

The Igbo people of south-eastern Nigeria are generally acknowledged as traders and astute entrepreneurs. Extant literature has investigated the various indigenous practices of Igbo entrepreneurs that ensure business success. Despite these efforts, knowledge of their financial practices has been limited. This chapter provides insights on the financial practices that are common amongst Igbo micro-entrepreneurs and the immense benefits of the practices. To unravel these practices, in-depth interviews were conducted with 15 micro-entrepreneurs involved in supermarket, spare parts and food items businesses in Lagos, Nigeria. Using a grounded theory approach, four significant financial practices such as rotating financial contribution, deferred financial arrangements, financial settlement practice and financial prudence common among the Igbo micro-entrepreneurs were identified. Based on the findings, relevant recommendations were made for financial educators and the management of modern financial institutions to adapt and incorporate some of these indigenous financial practices in teaching curricula and financial product designs.

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