Corporate Social Responsibility (CSR) in Nigeria: western mimicry ...

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Page30of44infrastructure development and healthcare provision), as well as theawareness that companies cannot truly claim to be successful andoutstanding performers if the economy and people in which they claimto have attained this success are below par – as the case of Nigeria.Some also argued that many of the firms in Nigeria make huge profitsand they need to give back to assuage the sometimes overt or covertdeleterious effect of their activities. This view is well reflected in one ofthe comments of the interviewees:…it is necessary mainly to remind the companies whichmake huge profits from Nigeria that their customers arenot only economic clients but social beings with socialneeds which can be enhanced by the corporate socialresponsibility activities (Academic/Consultant)While this comes across as a reasonable expectation, it will beworthwhile to situate it within the context offered by the Nigeriancorporate governance framework for such social orientations.Unfortunately, this will be hard to achieve as long as the institutionalframework places more emphasis on firms as private actors, withprivate rights mainly embedded in contracts (license of operation), andless emphasis on firms as fabrics of the society with the purpose ofproviding some social benefits (i.e. employment, productivity,economic growth, sustainability, etc) (Fannon, 2003). By its emphasis
‘SubjecttotheprovisionsofthisDecree,thememorandumandarticleswhenregisteredshallhavetheeffect ofacontractundersealbetweenthecompanyanditsmembersandofficersthemselveswherebytheyagree toobserveandperformtheprovisionsofthememorandumandarticles,asalteredfromtimetotimeinso farastheyrelatetothecompany,membersorofficersassuch’. 19Section41(1)oftheActprovidesasfollows:Page31of44on shareholders wealth maximization the Nigerian legal framework asearlier discussed in this paper would appear to be promoting a U.Stype contractarian approach. To further underscore the recognisedinterest within a registered company, the Act makes the constitution ofa company i.e. the memorandum and article of association of thecompany a contract between the company and its members(stockholders) and officers (management) and between members andUnder the Act, the law thus essentially reflect theshareholder supremacy and shareholder wealth maximization goal ofofficers.19the U.S contractarian school. In other words, a corporate governanceframework reform would be needed to orientate Nigerian firmstowards social considerations.In summary, the results/analyses show that the understanding andpractice of CSR in Nigeria is still largely philanthropic and altruistic.And most people think that CSR is one of the many ways companiescan plough back a portion of their profit to their immediateenvironment. This finding is in many ways at variance with the current
Page 1 and 2: Page1of44No. 39-2006 ICCSR Research
Page 3 and 4: Page3of44AuthorsKenneth M. Amaeshi(
Page 5 and 6: 3Itisimportanttopointoutthattherear
Page 7 and 8: environment,education,employeewelfa
Page 9 and 10: Page9of44frequently engaged force t
Page 11 and 12: itsshareholdersandthushavenolegalre
Page 13 and 14: 13Thisisonlyanapproximation.Thereis
Page 15 and 16: Page15of44networks. The education s
Page 17 and 18: 16Although,someNigerianbanksarebegi
Page 19 and 20: Page19of44socio-economic conditions
Page 21 and 22: Page21of44PR. The questions were al
Page 23 and 24: Page23of44carry out their business
Page 25 and 26: Page25of44CSR as philanthropy in Ni
Page 27 and 28: Table3%TheseCurrentIssuesAddressedc
Page 29: Table5%TheseDriversdrivers are not
Page 33 and 34: Page33of44Carroll’s model (i.e. e
Page 35 and 36: Page35of44is suggested that further
Page 37 and 38: Page37of44Frynas JG. 2001. Corporat
Page 39 and 40: Van Tulder, R. and Kolk, A. (2001).
Page 41 and 42: No. 05-2003 Karen Williams, Mike Ge
Page 43 and 44: Banks Website Y/N Terminology Waves

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