NewsExpress advert FCMB banner Fidelity bank banner NewsExpress advert
CAMA: Senate Passes Pro-Business Reform Bill

By Mayowa Okekale, Abuja on 16/05/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 262

•Senate Plenary
•Senate Plenary

The Senate has 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.

The Bill, heralds a new dawn for Small and Medium Enterprises (SME) development in Nigeria, as the country will now join a select group of countries with attractive investment environments.

Speaking on the passage of the Bill at plenary, President of the Senate, Bukola Saraki, stated that the passage of CAMA was a significant milestone in the 8th Senate’s Legislative Agenda.

“With the passage of CAMA, which is by far the biggest and one of the most far-reaching legislation ever passed in any legislature in our country, we have now put in place a regulatory framework to promote the ease of doing business and reduce regulatory hurdles.

“This is a pro-business law. This bill that we have just passed will show the audacity that we have to move Nigerian businesses into a new era of success and development,” Saraki said.

The new Bill, once it is passed and signed into law, will help to make Nigeria’s business environment as competitive as its counterparts around the world; allow business owners to now register their businesses in a faster and more efficient way — using technology; removes all the unnecessary regulatory provisions — such as the requirement for ‘annual general meetings’ and ‘company secretaries’; and reduces the minimum share capital for all companies and start-ups in Nigeria — which will encourage more investments and create new jobs.

CAMA will also create the ‘LLP’ (Limited Liability Partnership) which is a new form of legal identity for businesses in Nigeria that is targeted at increasing foreign investment in the country; as well as guarantees that Nigerians will be able to register their businesses from anywhere in the country through the e-Registration system that the Senate’s amendment gives legal backing.

“We are truly now walking the talk,” the President of the Senate said, adding: “With the passage of CAMA, we are saying to the rest of the world that Nigeria is ready for business and the government of Nigeria is ready to support small-scale industries to promote innovations and encourage enterprise.

“It will not have been done without the effort of all my colleagues.  I thank you for this great day in showing that truly the National Assembly is here in support of Nigerians to create an environment that enables them to be able to create business and seek opportunities,” he said.

Source News Express

Posted 16/05/2018 12:04:44 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
No regrets fighting apartheid in South Africa —...

Ekiti promotes 18 Vice Principals

NUPENG urges FG to pay subsidy claims promptly...

Lagos Assembly passes College of Nursing Bill

New Year shocker: Lagos Pastor asks Jonathan to...

Intersociety moves against Buhari’s bid to borrow $30...

Tough times for Nigerian, Ghanaian immigrants in China’s...

Melaye distances self from alleged plot to impeach...

Man chains 13 children and 15 adults in...

Nigeria to contribute over 25 per cent to...

Group identifies effective way to curb crime

Tony Elumelu Foundation opens applications for 3rd cycle...

 

Latest News Intervention Group recommends sack of IGP Ibrahim Idris •Says Nigeria about to collapse Intending RCCG couples to undergo mandatory genital tests Catholics to Buhari: End the killings or resign Boko Haram insurgency affects 14m people Teleology’s Nigerian shareholders in search of funds to close 9mobile deal Kwara shuts 40 illegal schools Okorocha: I am not leaving APC for any reason Okada operators ordered out of Awka, Onitsha Hope rises for Nigeria as oil nears $100 per barrel Stakeholders tackle customs over multiple cargo examination Ebonyi non-indigenes drum support for Umahi ATCON rejects CBN’s cyber security levy

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (345,367 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (342,076 views) Shameless Genevieve Nnaji exposes breasts in public (273,462 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (224,821 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (205,243 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (202,878 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (176,992 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (159,283 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (150,230 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (143,508 views) Lagos plane crash: Journalist releases victims’ names (140,038 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (132,435 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (41) Business & Economy (3,150) Business Verdict (43) Columnists (854) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (497) Features (598) Global Business Monitor (274) International (1,969) Interview (149) Live Commentary (28) Love Matters (120) News (35,530) Opinion (959) Pidgin (10) Politics (5,048) Religion (744) Sports (1,516) Stock Watch (29) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Boko Haram commanders surrender

 

APO Group Partner

 

 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement