A COMPARATIVE ANALYSIS OF DIRECTORS DUTIES OF CARE AND SKILL AND FIDUCIARY DUTIES OF LOYALTY AND GOOD FAITH UNDER THE COMPANIES ACTS OF NIGERIA AND THE UNITED KINDGOM

📄 Project Abstract

Having been in existence for about twenty five years now, the Companies and Allied Matters Act 1990 CAMA is long overdue for review. The many calls for the review of the law have not particularly singled out the director's duties of care and skill and fiduciary duties of loyalty and good faith. Yet, a cursory look at the statement of duties under the CAMA leaves much to be desired. The United Kingdom relatively recently reviewed its company law and now operates the Companies Act of 2006 CA. One of the most admirable aspects of this new law is the codification of the duties of directors, which were hitherto uncodified and based in case law. For the fact that Nigeria is a common law jurisdiction which usually models its laws after English law, it will most likely be the case that any review of the CAMA today would have the CA as a foremost reference point. On this note, this research considered, comparatively, whether and to what extent the CA can be a model for the CAMA in the area of d...