Nigeria’s New Companies Act (CAMA) Will Attract Investments And Boost Economic Growth

The reenactment of the Companies and Allied Matters Act (CAMA) has been a subject of controversy in Nigeria’s public space, as some sections of it have been described as oppressive. Section 839 (1) of the Act stipulates that religious and non-governmental organizations will be under the regulation of the Register-General of the Corporate Affairs Commission (CAC), and a supervising minister who will strictly regulate their affairs. Under this rule, the CAC may wade into the organizations’ affairs, particularly when there is crisis. The Act thus empowers the Commission to suspend board of trustees of public organizations when a case of … Continue reading Nigeria’s New Companies Act (CAMA) Will Attract Investments And Boost Economic Growth