Impact of Conflicts of Interest on Regulatory Integrity: Evidence from the Pharmacy Council of Nigeria

Abstract

This study investigated the Impact of Conflicts of Interest on Regulatory Integrity: Evidence from the Pharmacy Council of Nigeria. The aim was to explore how COI influences decision-making and public trust in the council’s operations. The study adopted a quantitative research methodology, utilizing logistic regression analysis to examine the relationship between COI and regulatory actions, with institutional transparency and political influence as secondary factors. The theoretical framework was based on Agency Theory, Conflict of Interest Theory, and Institutional Theory. Primary data were collected through a structured questionnaire from a purposively selected sample of 345 PCN stakeholders, which included regulatory officials, disciplinary committee members, and private practitioners. The findings revealed significant positive relationships between COI and both regulatory (odds ratio of 6.05) and disciplinary actions (odds ratio of 7.39), confirming the influential role of COI in shaping decision-making. The study concluded that COI, especially in the context of political and personal influences, significantly compromises the integrity and fairness of regulatory processes. Therefore, the study recommended the implementation of stronger transparency mechanisms, mandatory COI disclosure policies, and the development of predictive tools to address COI risks and improve governance within the PCN.