Social media platforms like Twitter, Instagram, and YouTube have inevitably become integral to public interaction with the law and corporate governance, according to Mr. Odein Ajumogobia, SAN.
He stated this as keynote speaker during the inaugural Legal Business Dinner hosted by Business day media held recently at the Wheatbaker Hotel on December 13, 2024. The keynote address was centred on: ‘The Business of Law: How Media Shapes Legal Practice and Corporate Governance in Nigeria.’
The event sponsored by Sparkle NG, Eterna Plc, and Perchstone & Graeys, sought to stress the intersection of law, business and media.
According to Mr. Ajumogobia SAN, the collaboration between legal practitioners, media professionals, and corporate leaders has never been more urgent than the current times to promote responsible reporting and accurate legal education.
“The media enters this fast-evolving ecosystem as both an ally and a disruptor…..in today’s fast-evolving world, it is no longer sufficient for sectors to operate in isolation”.
“Law, business, and media—three pillars of modern civilization—must recognise their shared power and responsibility in shaping the future of our country,” he said.
Mr. Ajumogobia SAN noted that in Nigeria, the media’s exposure of corruption, corporate scandals, or governance failures often influences public perception or pressures institutions to act.
“Thus, when the media aligns with truth and justice and its embedded principles, it strengthens corporate governance and the rule of law,” he stated.
He however noted that using the expression ‘names withheld’ when describing scandals undermines the credibility of journalistic investigations and displays a biased reluctance or fear to name and shame.
Also, he stated that if the media merely serves powerful interests, it undermines the broader goals of fairness and transparency in both business and governance.
Speaking on the interplay between law, media and governance, he pointed out that too often, law and lawyers are singled out for society’s ills.
He noted, “While corporate governance establishes the framework for ethical decision-making and accountability within organisations, business law provides the legal structures and enforcement mechanisms to uphold these principles.” Together, they aim to ensure fair practices, protect stakeholders, and promote economic stability and advancement.
Misinformation and ethical responsibility
According to him, the intersection of law, media, and corporate governance is not without its challenges.
The fast-paced digital world means misinformation spreads rapidly.
He highlighted that fake news about court rulings or corporate malfeasance can tarnish or burnish reputations before the truth emerges which presents a challenge for legal practitioners, who must counter inaccuracies while focusing on legal strategies.
“The court of public opinion matters profoundly. The Nigerian Broadcasting Commission, the Nigerian Press Council, and similar regulators play important roles, but self-censorship under established rules of professional ethics is more effective.”.
He went on further to highlight some unethical behaviour which some lawyers practice. He said,
“Lawyers, for example, are not permitted to advertise their services or use the media to sway public opinion during ongoing trials, yet the sight of lawyers outside courtrooms giving media briefings on proceedings that are matters of public record is commonplace.”
Media, as a business partner
Ajumogobia noted that as stakeholders demand greater transparency and accountability, lawyers must guide corporate entities within the boundaries of law and ethical behaviour while protecting their brands.
*The media also acts as a business partner. Media platforms have become indispensable tools for the legal profession and corporations in branding, recruitment, public engagement, and projecting social responsibility. ”
“But for both the legal practitioner and the corporate entity or board, leveraging the media effectively requires both skill and caution,” the speaker warned. “A single misstep, a poorly worded statement, or an ill-conceived socialmedia post can cause irreparable damage to credibility.”
Future collaboration, media training and regulatory reform
Mr. Ajumogobia SAN, proposed ways that the law, business and media can collaborate through training, media literacy, partnerships, and regulatory reforms, while emphasising the media’s power to shape perceptions, influence conduct, and promote accountability.
“Lawyers and corporate executives must invest in media training to navigate the complexities of modern communication and inform the media of their areas of expertise,” he recommended.
“Clearer guidelines on media engagement with legal and corporate matters can minimise conflicts while safeguarding freedom of the press.”
“As lawyers and corporate leaders, we must harness this power responsibly to engender greater public trust, truthfulness, fairness, independence, and accountability in both the practice of law and corporate governance,” the speaker concluded.
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