Senate Passes Historic Business Reform Bill
The 8th Senate led by Dr Abubakar Bukola Saraki on Tuesday passed a Bill to repeal and re-enact Companies and Allied Matters Act. #CAMA4you
The 8th Senate led by Dr Abubakar Bukola Saraki on Tuesday passed a Bill to repeal and re-enact Companies and Allied Matters Act. #CAMA4you
The Bill comes 28 years after the passage of the original Companies and Allied Matters Act and will make Nigeria the best country in Africa to do business. #CAMA4you
Ease of doing business plays a crucial role in the economic growth of any country. #CAMA4you
The processes, rules, and regulations set up by the government or government agencies can either help promote a business-friendly environment or hold businesses back from their entrepreneurial ambitions. #CAMA4you
Nigeria ranks 145 out of 190 countries in the World Bank’s Ease of Doing Business ranking, which rates countries for the ease at which one can open, conduct and close down businesses. #CAMA4you
This landmark reform by the Senate will provide significant benefits to companies by reducing red tape and making it easier to comply with regulatory obligations. #CAMA4you
Changes included in the Bill will mean that many of the over 75,000 private companies limited by shares which are established in Nigeria every year will be able to incorporate more easily, #CAMA4you
The Bill to spur more young people to start new enterprises. Among the changes which benefit those aspiring to start a company is the ability of a single person to incorporate a company. #CAMA4you
In addition, small companies will no longer be required to have a company secretary or hold Annual General Meetings. #CAMA4you
Minimum share capital required for companies to be registered has been reduced to encourage more investments in small companies and individuals will no longer need a lawyer to register a company. #CAMA4you
The introduction of LLP as a new business vehicle will act as a step towards converting the informal, undocumented sector into a formal and regulated regime. #CAMA4you
A company can now reach compromises on its debts and for businesses which are nearly insolvent a new process for administration has been introduced which will enable such businesses to keep running under the supervision . #CAMA4you
