Directors' Liability: The Legal Position in Nigeria

11 Pages Posted: 15 Jan 2016 Last revised: 16 Jan 2016

See all articles by Joseph Onele

Joseph Onele

Independent; Primus Grace LP; Sustainable Development Laws

Ame Odaro

Independent

Date Written: January 13, 2016

Abstract

In recent times, there have been arguments in certain quarters as to the extent of liabilities of company directors under Nigerian law. Some have further queried the instances, if any, when a director can be made personally liable for purported acts of a company. Others have queried: (x) whether the company’s liability is the same as director(s)’ personal liability; and (y) the extent of the criminal or civil liabilities of new directors for the acts of past directors.

It is against this backdrop that this paper seeks to consider, in succinct detail, the liabilities of a director primarily under the Companies and Allied Matters Act (“CAMA”) . In doing adequate justice to this topic, recourse will be made to relevant authorities that help illuminate the subject matter of this paper.

Keywords: Directors, CAMA, vicarious liability of a company, corporate criminal liability, personal liability of directors, corporate personality, lifting the veil, civil liability of directors, mens rea, actus rea

Suggested Citation

Onele, Joseph and Odaro, Ame, Directors' Liability: The Legal Position in Nigeria (January 13, 2016). Available at SSRN: https://ssrn.com/abstract=2715073 or http://dx.doi.org/10.2139/ssrn.2715073

Joseph Onele (Contact Author)

Independent

Adelaide Law School
Adelaide, South Australia SA 5000
Australia

HOME PAGE: http://https://www.adelaide.edu.au/

Primus Grace LP ( email )

Bourdillion Road, Ikoyi
Lagos, 101233
Nigeria

HOME PAGE: http://https://primusgrace.com/

Sustainable Development Laws ( email )

Aberdeen
Scotland
United Kingdom

Ame Odaro

Independent ( email )

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