Master of Laws
This thesis first examines the underlying theories of the statutory models of the Nigerian and Canadian company law, in order to determine the impact of these differing models on minority shareholders’ protection in each jurisdiction. From a practical perspective, this thesis then undertakes a comparative analysis of minority shareholders’ protections in the respective corporate statutes along with the judicial interpretations provided by the Nigerian and Canadian courts, with particular reference to the derivative action and oppression remedy. The similarities and differences of the derivative action and oppression remedy action available in each jurisdiction are highlighted, thereby revealing certain areas of convergence and other areas of jurisdictional uniqueness
It is easy to see the link between strong minority shareholders’ protection and widely - dispersed corporate share ownership, as minority investors will be more willing to invest in jurisdictions where their status as minority shareholders will not place them in a precarious situation. Consequently, this thesis examines the extent to which minority shareholders’ protection can influence dispersed investments in a developing economy like Nigeria. Concluding that there is a plausible link between minority shareholders’ protection and dispersed investments, this thesis recommends more adequate provisions and mechanisms to protect minority shareholders so as to improve the extent of investments especially in a developing country like Nigeria.
Summary for Lay Audience
This thesis conducts a comparative analysis of minority shareholders' protection available under Nigerian and Canadian corporate law. It specifically addresses the statutory provisions provided to remedy wrongs done to the corporation and to individual shareholders under both jurisdictions. It argues that although the Canadian and Nigerian corporate law evolved majorly from the English Acts, the Canadian statutory provisions and interpretations provided by the Canadian courts have evolved to a higher level of sophistication by providing more detail and flexibility that gives more adequate protection for shareholders compared to the Nigerian corporate legal system.
This thesis further draws the link between minority shareholders' protection and dispersed investments and argues that strong minority shareholders' protection facilitates dispersed investments which could help in economic development. Therefore, this thesis recommends more adequate provisions and mechanisms to protect minority shareholders so as to improve the extent of investments especially in a developing country like Nigeria.
Fadahunsi, Oluwabukola, "Minority Shareholders' Protections under Nigerian and Canadian Corporate Law: A Comparative Analysis" (2019). Electronic Thesis and Dissertation Repository. 6677.