chapter  4
54 Pages

Flags of confusion: The limitations and frustrations of imitation

The goal of this chapter is to present the experiences of the legal regime of a developing jurisdiction in post-colonial Africa to the body of literature on insider dealing through a critical analysis of the Nigerian legislation. The chapter will also address the following questions: does the peculiarity of a people’s social, political, economic or educational background have a role to play in the administration of an effective insider dealing regulation? Can insider dealing regulation be a one size fi ts all system that works effectively and effi ciently irrespective of the peculiar conditions and circumstances of a particular environment? This chapter seeks to argue that where an insider dealing regime is transplanted from one system into another, the social, political and economic peculiarities of the latter country rather than the actual letter of the law will determine the success or failure of that regime.