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Companies and Allied Matters Act, 2020

The Companies and Allied Matters Act, 2020 represents a comprehensive reform of Nigeria’s corporate regulatory framework, repealing and replacing the 1990 enactment. The Act modernizes company law in alignment with international best practices, enhances ease of doing business, and introduces robust provisions to promote corporate governance, accountability, and regulatory efficiency.

Key reforms include the introduction of single-member companies, limited liability partnerships (LLPs), business rescue provisions, electronic filings, exemption for small companies from audit requirements, and enhanced roles for the Corporate Affairs Commission (CAC). CAMA 2020 also strengthens transparency measures through mandatory disclosure of persons with significant control (PSC).

This legislation is indispensable for corporate legal practitioners, company secretaries, entrepreneurs, regulators, investors, and all stakeholders involved in company formation, administration, restructuring, and compliance in Nigeria.