Senate Passes the CAMA Bill 2020

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The Senate today, Tuesday, 10 March 2020, passed the Companies and Allied Matters Act (Repeal and Re-enactment) Bill, 2020 (“the CAMA Bill”). The CAMA Bill seeks to establish an efficient means of regulating businesses, minimize the compliance burden of small and medium enterprises, enhance transparency and shareholder engagement and promote a friendly business climate in Nigeria.

The Bill will be presented to the President for assent after the version of the Bill passed by the House of Representatives has been harmonized with the Senate’s version.

It will be recalled that the President withheld his assent to a similar CAMA Bill, 2018 passed by the 8th National Assembly in May 2018.

 

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