LCCI: Non-availability of the gazetted copy of CAMA 2020 is affecting business activities in Nigeria

Business News
 
 
“We urge the National Assembly and other relevant agencies of government to expeditiously gazette the Company and Allied Matters Act (2020), and make copies available to the public.  
 “The Lagos Chamber of Commerce, and Industry(LCCI) made this appeal to the Federal Government in a position paper on the 
revised CAMA 2020 which was assented to by President Muhammadu Buhari, last month.
 Dr. Muda Yusuf, LCCI Director -General, said that in view  of digital revolution sweeping across the public and private sectors, the role of the Federal Government Press in the dissemination of official legislations and other publications is at risk of diminishing relevance.
” It has become imperative for electronic copies of official publications to be promptly disseminated to the public to ensure swift activation and access to the benefits and values which such publications offer for the economy and the society.
“The CAMA 1990 has been repealed, CAMA 2020 is yet to be gazetted, six weeks after assent.
It is important that the bureaucracy works in tandem with the new normal of leveraging technology so that the desired outcomes of reforms can be achieved, and expeditiously too, ” said the LCCI.
The  chamber noted that being a major business legislation, the non-availability of the gazetted copy of CAMA 2020 has stalled many activities in the business environment.
These are activities anchored on the new legislation.  Additionally, the regulations that ought to be issued by the Corporate Affairs Commission on account of the nthatgislation have equally been stalled because there is no formal document to act upon

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