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Recently, the President on Friday the 7th of August, 2020 assented to the Companies and Allied Matters Act, (Repeal and Re-enactment) Bill 2020, which repealed and replaced the Companies and Allied Matters Act, 1990, and introducing after 30 years, several corporate legal innovations geared towards enhancing ease of doing business in Nigeria. The amendment introduced 200 new sections making it 870 sections, distinct from the initial 670 sections under the old Act. The new principles and changes are nothing short of impressive.

 

The major objective of the amendment is to bring our corporate commercial laws and regulations in tune with the current international best practice and also ensure some degree of ease in doing business under the current corporate commercial structure. The amendment is plausible because it seeks to further the ease of doing business in Nigeria, promote foreign direct investment and aggrandize Nigeria’s global competitive index.

 

Please read or download the article below.

 

Nigeria's CAMA Amendment - Key Changes and Implications

 

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