ABSTRACT
The modern world has been transformed by globalisation and national boundaries are increasingly disappearing. There are institutional elements resembling a world government: the United Nations; world banking institutions: the World Bank and the International Monetary Fund and international courts: the International Court of Justice and the International Criminal Court. Also, interestingly, international legal personality is expanding. Over the years, it has expanded to include non state actors: intergovernmental organisations and individuals. Multinational corporations (MNCs) are recognised as major actors in the globalisation process. However, the international regulatory agenda has not paid sufficient attentions to MNCs. Their regulation has remained largely confined to the domestic forums. The inadequacies of domestic law to grapple with the concept of MNCs and the failure at international law to deal effectively with it have led to regulatory problems and the attempts to fill these gaps with corporate social responsibility initiatives.
