LAW

A company, though a legal fiction, operates through the actions and decisions of it’s shareholders and directors. The provisions of Companies and Allied Matters Act 2020 envisage democratic and inclusive processes that reflect on the interests of all shareholders in practice, the principle that “the majority have their way and the minority shareholders. Unarguably, it is a commonplace to see actions of majority shareholders that contradict the Act or Articles, which in result could be detrimental to the interest of the minority shareholder. Such an illegal impedes good corporate governance and could have a company destabilized. Given the wanton injustice suffered by the latter, the letters of CAMA, though, attempts to provide safeguards in exceptional cases, the discretionary power of the court and the procedural hurdles in initiating derivative actions may deter or deny minority shareholders adequate protection. The study adopts the doctrine methodology of research. This research critically evaluates the effectiveness of minority protection mechanisms in Nigeria and identifies the legal and institutional loopholes that allow collusion between majority shareholders and company directors. Drawing from comparative corporate law regimes in other jurisdictions, the study recommends reforms aimed at establishing a robust legal, institutional, and third-party framework that better secures the rights and interests of minority shareholders.

The Metaverse, a virtual reality environment where users may interact and take part in different activities, has drawn a lot of interest as a promising breakthrough in technology. There are potential and problems associated with the Metaverse as it develops and grows, especially in terms of safety and regulation. This thesis explores the legal framework in Nigeria for regulating and promoting the safe usage of the Metaverse. This study examines the applicability of current laws in addressing safety issues in the metaverse, drawing on the National Information Technology Development Agency (NITDA) Act, Cybercrime (Prohibition, Prevention, etc.) Act, Nigerian Communications Act, Data Protection Regulation, and Copyright Act. The study reviews how NITDA regulates new technologies, promotes safe information technology practices, and considers how it may be used in the metaverse. It examines how the Cybercrime Act's provisions can be used to combat online threats and crimes, with a particular emphasis on unauthorized access, fraud, and identity theft. The study also considers the function of the Nigerian Communications Commission (NCC) in upholding user safety and privacy in the Metaverse, as well as the regulatory reach of the Nigerian Communications Act. The Nigeria Data Protection Regulation (NDPR) is reviewed in connection to the Metaverse's protection of personal data and privacy rights, including challenges and potential solutions for applying data protection measures in a virtual environment. The implications of the Freedom of Information Act for obtaining public information linked to Metaverse platforms are also examined, as is the applicability of the Copyright Act in safeguarding artists' and performers' intellectual property rights in virtual spaces. This thesis intends to give insights into the regulation and promotion of safe Metaverse usage in Nigeria by examining these statutory regulations and investigating their possible applicability. It outlines gaps, difficulties, and solutions for policymakers, regulators, and stakeholders in Nigeria in order to create a safe and inclusive Metaverse environment.