HIGHLIGHTS OF THE NEW COMPANIES AND ALLIED MATTERS ACT (CAMA) 2020

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INTRODUCTION

On August 7th, 2020, President Muhammadu Buhari assented to the Companies and Allied Matters Act 2020 (“the New Act”) which now repeals the Companies and Allied Matters Act, 1990 (‘Old Act”). The New Act seeks to address the regulatory bottlenecks and onerous legal requirements found in the Old Act which has overtime hindered the ease of doing business in Nigeria, particularly for Micro Small and Medium Enterprises (MSMEs).

This article seeks to highlight the key provisions of the New Act and its implications on companies’ operations. Click here to download Highlights of the CAMA Act 2020

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About the Firm

At Tope Adebayo LLP, we strive to continually improve and cultivate a close understanding of the Nigerian industry, an intimacy with the legal and procedural regimes of the environments in which clients operate and a strong commitment to providing dedicated and comprehensive services to our clients.