On Friday, 7th August 2020, President Muhammadu Buhari gave assent to the Bill that repealed and re-enacted the Companies and Allied Matters Act, Cap C20, Laws of the Federation of Nigeria, 2004 (the “old CAMA”) as the Companies and Allied Matters Act 2020 (the “new CAMA”). Certain provisions were retained, several new ones introduced, while others were modified.

The Corporate Affairs Commission (the “Commission”) remains the agency primarily vested with regulatory oversight over corporate entities in Nigeria, and implementation of the provisions of the new CAMA. As with the old CAMA, two distinct formal corporate structures are still available to nonprofits – the Companies Limited by Guarantee (“CLG”) and Incorporated Trustees (“IT”). In this Special Edition Morsel, we examine some of the key provisions of the new CAMA and how they affect non-profits (both local and international) in Nigeria.

Download the morsel »