Carnelian Journal of
LAW & POLITICS
Vol. V No. II
I. Legal Framework on Capital Market in Nigeria: A Review of Nigeria’s Current Stand
Olanrewaju Deji PhD, Olugasa Olubukola, Aje Adesola
II. Data Sovereignty and the Three Digital Kingdoms: Navigating Power, Policy, and Privacy in a Fragmented World
L.O Ikuvwerha, O. Ogunfeyimi, Olubukola O. Olugasa, Olalekan Moyosore Lalude
Legal Framework on Capital Market in Nigeria: A Review of Nigeria’s Current Stand
Olanrewaju Deji PhD, Olugasa Olubukola, Aje Adesola
Abstract
The capital market in Nigeria acts as a crucial pillar for economic development, offering a venue for long-term funding and investment. In order to assess the strength and sufficiency of the current legal system, this study critically examines the framework that governs the Nigerian capital market. Important laws like the Investments and Securities Act of 2007 and the function of regulatory bodies, especially the Securities and Exchange Commission (SEC), in monitoring market activity and guaranteeing investor protection are at the heart of this conversation. This study employed the non-numerical research methodology known as qualitative research methodology which focuses on themes of texts and legal writings. Specifically, the doctrinal research approach was adopted for this study. This approach is a black-letter approach that examines the letters of the law, rather than its application. Data was obtained through primary and secondary sources of data, some of which includes Investment and Security Act, Companies and Allied Matters Act 2020, among others. Although Nigeria has created a fundamental legislative framework for capital market regulation, the study comes to the conclusion that significant reforms are needed to improve institutional coordination, legal clarity, and enforcement methods. A unified, technologically advanced legal framework that can spur sustainable growth and draw in both domestic and foreign investors is one of the recommendations, along with the revision of antiquated statutory provisions and investments in regulatory capacity.
Keywords: Nigerian capital market, Legal framework, Investment and Securities Act (ISA), Companies and Allied Matters Act (CAMA) 2020
Data Sovereignty and the Three Digital Kingdoms: Navigating Power, Policy, and Privacy in a Fragmented World
L.O Ikuvwerha, O. Ogunfeyimi, Olubukola O. Olugasa, Olalekan Moyosore Lalude
Abstract
The digital ecosystem at present is largely shaped by paradigms of data sovereignty that are competing, brought by the emergence of the concept: ‘Three Digital Kingdoms (The United States, the European Union, and China).’ The approaches used by these digital kingdoms to data governance, are distinctive in all their ramifications, largely owing to divergent cultural priorities, economics, legal practices and nuances. The lack of harmonization among these digital kingdoms risks fragmenting the global digital eco-system as a whole into silos. This work studies the distinctive nature of these paradigms, concentrating on their effects on global economic competitiveness, privacy, and data flows. In the light of the foregoing, there is need for collaborative effort to address interoperability and equity in the digital landscape. Furthermore, using comparative analysis and supported by key statistics, this paper highlights the opportunities and challenges presented to emerging economies, particularly 10 Nigeria, in affirming their own data sovereignty while traversing the policies of the Three Digital Kingdoms.
Keywords: Data Sovereignty, Digital Kingdom, Digital Economy, Regulatory Framework, Privacy