Owner Fraud in Banking Law

This book explores one of the most pressing challenges in global bankin owner fraud perpetrated by the very individuals entrusted to safeguard financial institutions. It examines how CEOs, directors, auditors, and other stakeholders become complicit in fraud, and why existing legal frameworks consistently fail to prevent it. Using Nigeria as a case study, the book demonstrates that despite regulatory efforts to combat owner fraud, the country's unique socio-economic and legal landscape necessitates further reforms. The book considers the roles of the CEO, directors, management staff, other employees, auditors, customers, shareholders, and regulators. Adopting a comparative and socio-legal approach, the book examines theoretical frameworks for corporate governance, including shareholder, stakeholder and institutional theories. Ultimately, it argues that models of corporate governance grounded in Western philosophy and jurisprudence cannot effectively govern banks in Nigeria, proposing a practical model based on Ubuntu philosophy instead. It shows that embracing African ethics has the potential to enhance corporate disclosures and governance practices worldwide. This book will appeal to researchers in corporate governance, financial law, business law, banking law, and comparative legal studies, as well as policymakers, regulators, and practitioners working in emerging markets.