Category: Corporate Affairs Commission
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WHEN SHOULD YOU AMEND YOUR COMPANY’S MEMORANDUM AND ARTICLES OF ASSOCIATION (MEMART)? TRIGGERS YOU’RE LIKELY IGNORING
INTRODUCTION For many companies, the Memorandum and Articles of Association (“MEMART”) is drafted at incorporation and rarely revisited. Yet under the Companies and Allied Matters Act (CAMA) 2020, it remains the backbone of a company’s identity, governance, and operations. As businesses grow through capital raises, restructuring, or expansion, their MEMART must grow with them. An…
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Remedies Available to Aggrieved Minority Shareholders in a Company: A Review of the Supreme Court’s Decision in Mainstreet Bank Registrars Ltd and ors v. Temitope O. Oshinuga (2024) LPELR-62980 (SC)
Introduction A fundamental principle of company law is that a company is a separate legal entity distinct from its shareholders and directors. This distinction raises an important question: who has the right to sue when a wrong is committed against the shareholders or the company? Section 341 of the Companies and Allied Matters Act 2020…
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THREE REGULATORY RISKS TO BE AWARE OF UNDER THE COMPANIES AND ALLIED MATTERS ACT (CAMA) 2020
Introduction: In Nigeria, registering a company with the Corporate Affairs Commission (“CAC”) is only the first step towards building a compliant business. With the CAC rigorously enforcing the provisions of the Companies and Allied Matters Act (CAMA) 2020 and the Corporate Affairs Commission Regulations 2021, companies must prioritise statutory reporting and disclosure obligations to avoid…