Disqualifying unfit directors: what lessons can Nigeria learn from Commonwealth Countries?

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This article examines the legal and institutional framework for the disqualification of unfit directors in Nigeria. It notes that while several countries around the world have developed robust structures for the disqualification of errant directors, as part of strategies aimed at fostering good corporate governance, Nigeria on the other hand has largely ignored its directors disqualification regime, which incidentally, is not robust enough to tackle the myriad of corporate misbehaviours which regulators are increasingly grappling with. Drawing lessons from some select Commonwealth countries such as the United Kingdom, Australia, and New Zealand the article will suggest that Nigeria should aim at enacting an elaborate disqualification regime aimed at deterring directors from wrongdoing, protecting the unsuspecting public from their misconduct, and furthering a strong corporate governance culture in the country.