Business

Great News for Nigerian Business: Senate Reenact Companies and Allied Matters Act

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The Nigerian Senate President, Dr Bukola Saraki’s love for Nigerian Business is deeply rooted in his understanding of The challenges facing Entrepreneurs. Saraki over time has shown he bears the burden of the difficulty of doing business in Nigeria and was committed in improving the ease of doing business for higher economic productivity.
The Senate President Having been in the private sector before transiting to active politics, he understands what it is that Nigerian Businessmen face and so today the Senate under his leadership recorded a victory for the private sector.
So 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, CAMA removes all the unnecessary regulatory provisions for small companies.
5, it reduces the minimum share capital for companies and start-up in Nigeria.

6, it will 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.

About the author

Oriri Peter is a blogger, an online media expert, an entrepreneur. Founder of Penessaj Communication, He is politically motivated, He has participated in various political campaign platforms, He is also an event planer/social media mobilizer, a social analyst and a strategic thinker. Studied Sociology from Benue State University Makurdi. He is so passionate about the ordinary Nigeria.

Oriri Peter is a blogger, an online media expert, an entrepreneur. Founder of Penessaj Communication, He is politically motivated, He has participated in various political campaign platforms, He is also an event planer/social media mobilizer, a social analyst and a strategic thinker. Studied Sociology from Benue State University Makurdi. He is so passionate about the ordinary Nigeria.

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