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  1. Home
  2. Browse by Author

Browsing by Author "Oyewunmi, Olabode A."

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    Corporate Regulation of Unethical Practices: Assessment of Nigeria’s Commercial Banking Industry
    (International Journal of Economics and Financial Issues, 2017) Oyewunmi, Olabode A.; Olusanmi, Olamide; OLUJOBI, Olusola Joshua; Adegboye, Folashade
    Evidently, a culture of due compliance has been eroded on multiple levels within Nigeria’s commercial banking industry. Hence, corporate values and professional ethics are being sacrificed on the grounds of; being competitive, returning impressive profit margins and increasing market share. Historical antecedents and emerging trends indicate the long term adverse effects of corporate malpractices, especially when left unmitigated by affected stakeholders. The appreciable decline in global oil prices has reenergized corporate regulatory oversight in Nigeria. The aim in this regard and as widely publicized; is to sanitize the wider business environment and importantly renew the public trust, domestically and internationally. Apparent trends of insider dealing practices subsist in Nigeria’s banking industry, even though very limited conclusive cases are available for exhaustive analysis. This fact is further validated by the various interventions of the requisite regulatory agencies, coupled with the local and international commentaries in this regards. Instructively, deployment of statutory-oversight by the requisite agencies has prevented a systemic collapse of banking industry. The paper also succinctly explored the essence of the stakeholder theory, as a basis to validate the necessity of corporate regulatory intervention. Relevant evidences, specific statutes and others verifiable sources utilized to expound on the theme of the paper. It is opined that there must be active collaborations between corporate stakeholders and the regulatory structures, particularly against the backdrop of Nigeria’s unfolding socio-economic peculiarities.
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    Oil Spillage in Nigeria’s Upstream Petroleum Sector: Beyond the Legal Frameworks
    (International Journal of Energy Economics and Policy, 2018) OLUJOBI, Olusola Joshua; Oyewunmi, Olabode A.; Oyewunmi, Adebukola E.
    The adoption of a broad based sustainable development strategy, underpinned by prudent management of oil resources, coupled with an enduring model for conservation of the natural environment, is an imperative for the Nigerian State. Thus, the paper identifies specific gaps in Nigeria’s environmental legal frameworks and shares critical international perspectives. The study entailed a descriptive legal analysis and utilizes relevant secondary sources. The paper opined that majority of oil spills in Nigeria are not usually addressed in the light of obtainable best practices, inspite of the negative environmental, health and socio-economic consequences. It emphasizes the government’s overarching obligation to enforce applicable environmental laws and regulations. Also captured, is the corresponding responsibility of oil operators to ensure due compliance with their corporate obligations and by implication contributing to the achievement of fundamental environmental protection benchmarks. The paper recommends a holistic reform of relevant laws on the integral oil spillage subject matter
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    Transparency in Nigeria’s Oil and Gas Industry: Is Policy Re-engineering the Way Out?
    (International Journal of Energy Economics and Policy, 2016) Oyewunmi, Olabode A.; OLUJOBI, Olusola Joshua
    Nigeria is Sub-Saharan Africa’s largest oil producer and also possesses huge unrealized gas deposits. The oil and gas industry is considered as the lifeblood of Nigeria’s socio-economic development, bearing in mind the well-established historical antecedents and the unfolding happenings. However, inspite of the strategic role of this industry to national wellbeing, it is a signpost for; corruption, infrastructure deficit, oil smuggling, vandalism and diverse security challenges. It is noteworthy, that accurate revenues attributable to the industry are not consistently published. Royalties paid to the Federal Government remain undisclosed for unjustifiable reasons. Also, specifics of transactions are disguised, thereby making it practically impossible for an interested stakeholder to monitor the level of; royalties, taxes, fees and charges paid to the Federal Government. Hence, the paper critically assessed selected laws, code, practices and the essence of policy re-engineering to Nigeria’s oil and gas industry. Conclusions and contextual recommendations were also proffered

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