An Examination of the Powers and Functions of the Chairman of the Federal Inland Revenue Services in Relation to the Principles of Corporate Governance in Nigeria.
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Date
2017-11
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Nasarawa State University, Keffi
Abstract
The duty to protect human rights is no longer the sole duty of states but also that of other parties like the multinational corporations, companies and business enterprises which are all part of the private sector. This is because it has been observed that this sector, particularly multinational corporations also violate human rights as their operations have an effect whether positive or negative eon the rights of a group of people which includes employees, customers and communities in which they operate. Hence, the subject matter of business and human rights is a trending issue at the national level. This paper discusses the problem posed by the private sector, specifically the multinationals, and how they violate human rights in Nigeria vis-a-vis the response by the government. The paper finds that the response is poor and the consequence is the increase in violation of human rights in the country. The study recommends that actions be taken to strengthen the laws and develop measures that directly relate to business and human rights. Having examined what is obtainable in other jurisdictions like South Africa and Australia, the study equally recommends that the government follow in their footsteps.
This paper examines how the enormous powers given to the Executive Chairman Federal Inlands Revenue Services under the Federal Inlands Revenue Services (Establishment) Act 2007 negate the workability of the principles of Corporate Governance in the activities of the Service. In doing this, the paper appraises the jurisdictional bases as well as legal framework
of Corporate Governance in Nigeria. The paper further examines how section 1 of the Act which has direct bearing on the qualification and function of the Executive Chairman negates corporate governance principle and the danger such may pose to the administration of the Service. The paper in the final analysis draw conclusion and make some practical recommendations that may aid the effective application of the principles of Corporate Governance in the Federal Inlands Revenue Services of Nigeria.
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Keywords
Powers, Executive Chairman, Federal Inland Revenue Services, Negation, Corporate Governance.
Citation
Olokooba S.M, Akintoye O.D, Ojibara, H.B (2017): An Examination of the Powers and Functions of the Chairman of the Federal Inland Revenue Services in Relation to the Principles of Corporate Governance in Nigeria. Journal of Private & Business Law Vol.3 (1); 39-49, Published by Nasarawa State University, Keffi.