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VOL. 3, ISSUE 4 (2021)
An enquiry into false declaration of profits by Nigerian oil companies as a corporate governance tactic
Authors
Aderonke Abimbola Ojo, Tosin Ezekiel Ayo
Abstract
This paper attempts a socio-economic and legal enquiry into the prevalence of the doctoring of accounting records of oil companies in Nigeria filled with many incidences of insider trading, manipulative and unethical boardroom practices, inflation of stocks and false declaration of profits to save face and trick unwary investors into becoming shareholders of an unprofitable business venture. It found that the practice is not alien to the oil sector and that the primary motive behind same was to feign success and achieve utmost corporate profitability through the backdoor. It equally found that creative accounting was a short-term corporate governance instrument with no systemic structure for corporate performance and sustainability.
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Pages:20-25
How to cite this article:
Aderonke Abimbola Ojo, Tosin Ezekiel Ayo "An enquiry into false declaration of profits by Nigerian oil companies as a corporate governance tactic ". International Journal of Law, Policy and Social Review, Vol 3, Issue 4, 2021, Pages 20-25
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