CORPORATE GOVERNANCE FAILURES AND ETHICAL DILEMMAS: LESSONS FROM NIGERIAN BUSINESS SCANDALS

Abstract

Corporate governance and ethical integrity are essential for organizational sustainability and stakeholder trust. In Nigeria, recurrent corporate failures and scandals—such as those involving Cadbury Nigeria Plc, Oando Plc, and the Nigerian National Petroleum Corporation (NNPC)—have exposed critical lapses in governance frameworks and ethical conduct. This paper investigates the nature of these failures and explores the ethical dilemmas faced by key actors in high-profile Nigerian business scandals. Using a case study approach, the study analyzes the causes, patterns, and consequences of these governance breakdowns. It finds that weak regulatory enforcement, board inefficiencies, management dishonesty, and conflict of interest are major contributors. The ethical dilemmas often revolve around loyalty versus transparency, pressure to meet earnings targets, and whistleblower retaliation. The paper recommends reforms such as stronger enforcement of governance codes, transparent disclosures, ethics education, and independent board oversight as vital to rebuilding trust and accountability in Nigeria’s corporate environment.