CSOs Decry Dangers In Sections Of CAMA Law

Photo of Milford Sound in New ZealandPhoto of Milford Sound in New Zealand

CSOs Decry Dangers In Sections Of CAMA Law

Civil Society Organisations (CSOs) came together yesterday in Abuja to review sections of the Companies and Allied Matters Acts (CAMA) signed into law by President Muhammadu Buhari in 2020 and called for the amendment of sections under Part F of the Act.

They ventilated at a stakeholders roundtable on CAMA 2020, organised by YIAGA Africa to review emerging issues towards further legislation.

Even as they acknowledged the importance and benefits of CAMA to ease of doing business in the country, they faulted the section under part F that empowered the government to appoint interim managers for new businesses.

The Programme Director of YIAGA, Cynthia Mbamalu, said beyond the organisation’s objectives, it doesn’t make sense to have an outsider or regulatory body that does not understand the shared values and purposes of establishing a body to interfere in the decision-making process.

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