The Impact of the Companies and Allied Matters Act 2020 on Corporate Governance in Nigeria.

Obagboye Tomi Grace; James Sharon Tolulope

doi:10.52589/AJLPRA-XX30ENM6

The Impact of the Companies and Allied Matters Act 2020 on Corporate Governance in Nigeria.

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African Journal of Law, Political Research and Administration

Vol. 7Issue 32024pp. 1–10Published 20 September 2024

DOI 10.52589/AJLPRA-XX30ENM6

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Abstract:

President Muhammadu Buhari in 2020 signed the Companies and Allied Matters Act, 2020 (CAMA 2020), and the CAMA 2020 is expected to be a step in the right direction towards reforming and improving Nigeria’s business environment and reducing regulatory hurdles. The CAMA 2020 which repealed and replaced the Companies and Allied Matters Act, 1990 is also projected to impact positively on corporate governance practices and procedures in Nigeria and this has received increased attention in the new CAMA. This is due to the concerted efforts aimed at inculcating the principles of transparency, accountability, and fairness in running the affairs of public and private companies and also to curb the high-profile scandals involving abuse of corporate powers by key corporate stakeholders using corporate entities. This paper highlights the impact of CAMA 2020 on the corporate governance in Nigeria. Key words: Impact, CAMA 2020, Corporate Governance, Nigeria

Keywords:Impact CAMA Corporate Governance Nigeria

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