Today, the 8th Senate made history with the passage of the repeal and re-enactment of the Companies and Allied Matters Act (CAMA), which is the biggest business reform bill in Nigeria in over 28 years.
Here are 7 things that you need to know about this Bill…
1: It will make Nigeria’s business environment as competitive as its counterparts around the world.
2: It will allow individuals to be able to open up companies all by themselves
3: It promotes the use of technology in the registration of businesses.
4: It removes all unnecessary regulatory provisions.
5: It reduces the minimum share capital for companies and start-up in Nigeria.
6: It creates a new form of legal identity for Nigerian businesses.
7: It ensures that Nigerians can now register their businesses from anywhere in the country through the e-registration system.
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