Ozofu Ogiemudia is a partner in the law firm of Udo Udoma & Bello-Osagie. In this interview, she speaks on how Companies and Allied Matters Act, CAMA 2020 will transform the business community and what stakeholders must do to benefit from the Act. Excerpts.
The legal and Business community received with joy the news of the President’s assent to the new Companies and Allied Matters Act 2020. You were involved in the process. Can you tell us more about this?
In May 2017, I was asked to chair the technical advisory committee (TAC) to the Nigerian Senate on the review of bills to amend the Companies and Allied Matters Act, Cap C20, LFN 2004 (CAMA 2004) and the Investments and Securities Act 2007. The TAC submitted a draft bill for the repeal and re-enactment of the CAMA 2004 to the Senate in February 2018.