The Evolution of Corporate Governance in Nigeria: 1886–2018

This study aims to document the beginnings of corporate governance in Nigeria, from the earliest discernible attempts to hold companies accountable for their activities up to the emergence of codes that seek to formalize the principles that guide the conduct of agents who run companies on behalf of the owners and other stakeholders. Using the historical approach, the study describes and interprets past events within the business space in the territories that eventually became known as Nigeria. It is argued that the embryonic stages of sound corporate management in Nigeria are traceable to 1886 when the British Government granted Royal Charter to the Royal Niger Company. From then on, corporate governance progressed until 2018, when the Nigerian Code of Corporate Governance (NCCG 2018) was introduced. This study bridges the gap in corporate governance scholarship in Nigeria by documenting, in a systematic fashion, a chronological inquiry into the origins of corporate governance in Nigeria.