Credible elections are unarguably one of the indices of good governance and strong democratic systems. “Free and fair elections”, in the words of the Justice Uwais-led Electoral Reform Committee, “are the cornerstone of every democracy and the primary mechanism for exercising the principle of sovereignty of the people” and are “therefore a crucial requirement for good governance in any democracy”. Article 21 of the Universal Declaration of Human Rights, 1948, enshrines the right of everyone to “take part in the government of his country, directly or through freely chosen representatives” and the “right of equal access to public service in his country”. More specifically, Article 21(3) is to the effect that “[t]he will of the people shall be the basis of the authority of government.” The will of the people, the Article further provides, “shall be expressed in periodic and genuine elections…”.
In every modern economic system, it is inevitable that forces of labour and capital would have dissenting views with each side resorting to measures through which it can press home its demands. In this vein, collective bargaining and strikes are important mechanisms through which the worker can engage the employer in a dialogue to meet its demands. Strikes if unregulated may spiral out of control with attendant consequences for the polity.
Statistics show that approximately two-thirds of the earth's surface is covered by water and Ninety percent of international trade is sea borne, whilst about eighty five percent of fossil fuel is derived offshore particularly on the continental shelf. The regimes of the seas as provided under the Law of the Sea confers certain rights on littoral States, that is, nations abutting the seas; geographically disadvantaged States, such as shelf locked States and land locked States. Whilst these rights inhere in the States, each State nevertheless, must muster the political will and purposive effort to ventilate these rights through conscious maritime economic policies and strategies pursuant to availing themselves of the windows of limitless potentials of the seas for economic growth and sustainable development.
In keeping with its mandate to contribute to the development of the law by focusing attention on topical, ground breaking and evolving areas of law through series of RoundTable discussions, the Nigerian Institute of Advanced Legal Studies organised yet another successful and thought provoking Round Table on the 19th of July, 2010, on the pressing need for forensic and investigative accounting to support the effort at reducing criminality in the banking industry. The Round Table was timely and germane given the emerging social anomie and preponderance of fraud within the private and public sectors of the Nigerian economy. This is more so in the banking industry where the incidence of economic crime has persisted in increasing proportions despite attempts to combat same by law and administrative measures, with serious consequences for the industry as evidenced by the recent collapse of a number of banks.
Corporate governance has become a very topical issue globally and within our nation in light of the recent global economic recession and its impact on businesses and financial institutions. In Nigeria, the discourse on corporate governance has also been heightened by the attitude of Boards of Directors of Corporate entities in undermining hitherto long held basic business ethics and culture of truth, honesty and integrity of Corporate entities by placing personal interest and bad business practices over these time honoured ethics.
Nigerian Institute of Advanced Legal Studies (University of Lagos Campus)
P.M. B. 12820 Lagos,
Supreme Court of Nigeria Complex
Three Arms Zone Central District Abuja.