has suffered a loss, injury or damage as a result of the use or impact of any good, product or service may make a complaint in writing or to seek redress through a State Committee”. A court of competent jurisdiction may fine or give a five year maximum jail term to any corporation that breaches the provisions of the Act in relation to trade, provision of services, supply of information or advertisement which causes loss. The Consumer Protection Council (CPC), Nigerian Copy Rights Commission, National Film and Censors Board and Standards Organization of Nigeria (SON) have all taken up the challenges of good corporate governance by aggressively enforcing compliance in line with international standards of best practices in their various mandates. 5.5 Objective 5: Providing For Accountability Of Corporations, Directors And Officers. 5.5.1 Nigeria has adequate laws, regulatory agencies and professional bodies, established to ensure that the major actors in the corporate governance system operate in accordance with the core principles of good corporate governance. Such laws and bodies include: Companies and Allied Matters Act (CAMA)1990/2004 Code of Good Corporate Governance in Nigeria 2011 Nigeria Accounting Standards Act The Central Bank of Nigeria (CBN) Securities and Exchange Commission (SEC) Code of Conduct Bureau Bureau of Public Enterprises National Accounting Standards Board (NASB) Nigeria Institute of Management (NIM) Institute of Chartered Accountants of Nigeria (ICAN) etc. 5.5.2 To forestall insincerity, corruption and poor disclosure practices in the entire corporate governance system, and with the determination and commitment to strengthen the financial landscape, the Federal Government of Nigeria and its agencies have, within the last few years, embarked upon extensive legal reforms. On 20th July, 2011, the Financial Reporting Council of Nigeria Bill was 81