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Buhari signs amended CAMA bill in to law

President Muhammadu Buhari yesterday assented to the Companies and Allied Matters Bill, 2020, recently passed by the National Assembly. The President’s action on this important piece of legislation, therefore, repealed and replaced the extant Companies and Allied Matters Act, 1990, introducing after 30 years, several corporate legal innovations geared toward enhancing ease of doing business in the country. According to a statement made available to newsmen yesterday by his spokesman, Femi Adesina, such innovations include:

“Filing fee reductions and other reforms to make it easier and cheaper for small and medium-sized enterprises to register and reform their businesses in Nigeria; “Allowing corporate promoters of companies to establish private companies with a single member or shareholder, and creating limited liability partnerships and limited partnerships to give investors and business people alternative forms of carrying out their business in an efficient and flexible way.

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