IN THE REPORTS

The elephant in the room: Protecting shareholders’ rights under CAMA 2020

Since colonial days, the legal framework underpinning commercial enterprises in Nigeria has undergone many modifications. The current law - the Companies and Allied Matters Act (“CAMA”) 2020, which became existent in August 2020, brought new changes to the way companies are regulated in Nigeria. One of such changes is that companies are now mandated to issue and allot their entire share capital. Under the now repealed CAMA 1990, every company could have a prescribed “authorised share capital,” requiring them to issue a minimum of 25 percent of the authorised share capital to shareholders. This requirement allowed companies to retain unissued shares, which were mostly for future allotments by way of future investments into the company; or for allocation to employees of the company. Under the CAMA 2020, the requirement of “authorised share capital” became replaced with the “minimum issued share capital” principle which provides that a company must not have a share capital less than its minimum issued share capital. The implies that the entire share capital of a company must be issued at all times, meaning that companies can no longer retain unissued shares for future allotments, employee share schemes or for any purpose at all. Also, where a ...
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REPORTS

The elephant in the room: Protecting shareholders’ rights under CAMA 2020

Since colonial days, the legal framework underpinning commercial enterprises in ...
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/ Analysis, Reports

Video: PVC collection is the next challenge

An SBM survey of 4000 people across Nigeria showed that ...
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/ Reports, Research

The SBM Jollof Index: A stitch in time saves nine

Food insecurity is a significant problem many Nigerians are currently ...
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/ Analysis, Reports, Research

INEC’s CVR process: A spotlight on actual PVC collection

As the 2023 general elections approach, the Continuous Voter Registration ...
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/ Analysis, Reports, Research

Chart of the week: The 2022 SBM state health preparedness index

February 27, 2022, marked exactly two years after the first ...
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/ Analysis, Reports, Research

Nigeria’s history of inflation: a tale of the destruction of value

One of the fundamental goals of a modern economic system ...
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/ Analysis, Reports, Research

Non-aligned no more: A new age of great power competition in Africa beckons

A bill that would compel the United States Government to ...
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/ Analysis, Reports

Taxing Nigeria’s subnational economies to oblivion

Nigeria is mired in a crisis where high inflation, sluggish ...
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/ Analysis, Reports, Research

Chart of the week: INEC’s RECs

Correction: An earlier version of this chart implied that certain ...
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/ Reports, Research

The SBM Jollof Index: Geopolitics comes for dinner

Food prices in Nigeria have risen to record levels in ...
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/ Analysis, Reports, Research