Posted In: Corporate Services

Published: Aug 7, 2020

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

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.

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