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 Under the now repealed CAMA 1990, every company could have a prescribed “authorised share capital,” requiring them to issue a minimum of 25 percent of the authorised share capital to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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Video: PVC collection is the next challenge
An SBM survey of 4000 people across Nigeria showed that ...
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The SBM Jollof Index: A stitch in time saves nine
Food insecurity is a significant problem many Nigerians are currently ...
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INEC’s CVR process: A spotlight on actual PVC collection
As the 2023 general elections approach, the Continuous Voter Registration ...
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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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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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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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Taxing Nigeria’s subnational economies to oblivion
Nigeria is mired in a crisis where high inflation, sluggish ...
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Chart of the week: INEC’s RECs
Correction: An earlier version of this chart implied that certain ...
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The SBM Jollof Index: Geopolitics comes for dinner
Food prices in Nigeria have risen to record levels in ...
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