Innovations In The CAMA Bill 2018

On Tuesday, 15th May, 2018, the Nigerian Senate passed the Company and Allied Matters (Repeal and Re-enactment) Bill, 2018 ("The Bill") which is targeted at improving the ease of investing in Nigeria and bringing it in line with global best practices.

The Bill if and/or when enacted, will greatly reform the business landscape in Nigeria given the sweeping innovations it brings some of which include:

1. Single Member Companies
   The Bill makes provisions for the formation of a company by just one individual unlike under the current operative law whereby the association of two or more persons are required to form a company. This innovation it should be noted extends only to the incorporation of private companies. ¹