| Summary: |
There have been notable legislative advancements and improvements in corporate governance codes towards stakeholder rights protection. But, how much protection have they really afforded stakeholders against social irresponsible corporate behaviours? The article undertakes a comparative analysis of the legal framework underlying the stakeholder-inclusive approach in South Africa and the environment, social and governance (ESG) or sustainability corporate reporting in Nigeria. It identifies faulty philosophical background together with policy misalignment of corporate governance codes and primary corporate law as critical factors undermining efforts to embed responsible corporate behaviour towards safeguarding qualified and legitimate stakeholder interests. It recommends specific amendment provisions which address the ideological defect and aligns corporate governance codes with primary corporate legislations in the countries.
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