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Mainstreaming whistleblowing as a regulatory mechanism against fraud in Nigeria’s capital market

Author

Listed:
  • Edith O. Nwosu
  • Uchechukwu Nwoke
  • Collins Chikodi Ajibo
  • Fochi Nwodo
  • Ikenna Okoli

Abstract

Purpose - This paper aims to analyze the importance and application of whistleblowing in the fight against fraud in Nigeria’s capital market. Design/methodology/approach - Drawing from existing legislation and literature in the area, the paper (by adopting a doctrinal approach), analyzes the application of whistleblowing in the Nigerian capital market. Findings - As a result of an inadequate legislative framework (a structure consisting mainly of mere policy directives and voluntary codes), whistleblowing is seldom used in Nigeria’s capital market. Originality/value - This paper extends the body of knowledge in the area of whistleblowing in Nigeria’s capital market by not only identifying the non-utilization of the concept but also offers creative suggestions, which will help it is to normalize as a regulatory tool for reducing fraud in this sector.

Suggested Citation

  • Edith O. Nwosu & Uchechukwu Nwoke & Collins Chikodi Ajibo & Fochi Nwodo & Ikenna Okoli, 2021. "Mainstreaming whistleblowing as a regulatory mechanism against fraud in Nigeria’s capital market," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 28(4), pages 1008-1021, June.
    • Handle: RePEc:eme:jfcpps:jfc-10-2020-0209
    DOI: 10.1108/JFC-10-2020-0209
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