The Administrative Proceedings Committee Under CAMA 2020 – Matters Arising

Introduction

The signing into law of the Companies and Allied Matters Act, 2020 (the "CAMA 2020") has been lauded as a remarkable feat, a game changer in the corporate regulatory framework, and described as Nigeria's most revolutionary piece of business legislation in decades. The CAMA 2020 repealed and replaced the outdated Companies and Allied Matters Act of 1990 (the "CAMA 1990").

In tune with the government's desire to improve the ease of doing business, the CAMA 2020 introduced commendable provisions such as the replacement of authorized share capital with minimum issued share capital, the introduction of single-member companies, the disclosure of persons with significant control, the introduction of electronic filing, the recognition of electronic share transfers, and the holding of virtual annual general meetings by private companies.