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AfricaBusiness & FinanceNigeria

CAM BILL 2020: No reason to entertain fear – CAC urges Companies

By Oluwaseun Sonde

The Registrar General/CEO of the Corporate Affairs Commission (CAC), Alhaji Garba Abubakar has said that companies registered as Incorporated Trustees under PART C of the Companies and Allied Matters Act have no reason to entertain fear on the provisions of the Newly signed CAM BILL, 2020 so long as they carry out their operations as enshrined in their constitution.

Photo: The Registrar of CAC and staff of Nigerian NewsDirect and Business Day newspaper

He made this known at the Commission Headquarter in Abuja on Wednesday, as CAC continues to receive congratulatory visits over the recent signing into law of the CAM BILL, 2020, also among those visited were the Management of two Newspapers: Business Day and Nigerian Newsdirect.

He said the new law signed by President Muhammad Buhari, was done in the best interest of Nigerians and in accordance with best practice which include the UK Charities Act Act amongst others, while called for support and cooperation with the CAC in the implementation of the CAM BILL, 2020, he stated that the Commission’s commitment towards ensuring efficient services to Customers.

He added that the CAM BILL, 2020 will go along way in assisting Nigeria in the fight against corruption as well as improve transparency and added that new innovations in the law include the One-man company, removal of requirement for Appointment of a Secretary by small companies and filing of Audited accounts amongst others.

Similarly, the Publisher/Editor-in-Chief of Nigerian NewsDirect, Prince (Dr) Samuel Ibiyemi stated their resolve to support the Commission’s efforts in awareness creation. Samuel’s Ibiyemi revealed that NewsDirect was to commemorate its 10th Anniversary soon. Speaking earlier, the Director, Northern Operations of Business Day, John Osadalor expressed readiness to support the Commission in its efforts to create awareness on the new law.

Photo: The Registrar of CAC, Alhaji Garba Abubakar having meeting with management of Business Day and Nigerian NewsDirect Newspaper

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