CAMA 2020 – THE JOURNEY SO FAR: Opening Plenary at SBL Confab Examines Impact, Prospects of Regulatory Changes

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The 16th Annual Business Law Conference of the Nigerian Bar Association’s Section on Business Law (NBA-SBL) kicked off in Abuja with a plenary session which scrutinised the progress made since 2020, when the Companies & Allied Matters Act made a number of amendments to an Act that was originally enacted three decades prior.

NEWSWIRE Law & Events Magazine’s correspondent at the Transcorp Hilton venue of the confab reports that the panel discourse, moderated by Toyin Bashir, a Partner at the commercial law firm of Banwo & Ighodalo, featured a lead presentation on the operations of the Corporate Affairs Commission (CAC) by its Registrar-General, Alhaji Garba Abubakar (who was represented by Mr. Justin Ndia) as well as contributions from Amina Ibrahim; Marx Ikongbeh and Felicia Mosuro.

In his presentation, Ndia ran through the most consequential of the over 200 amendments to the CAMA Act which, he said, were aimed at streamlining the regulatory framework in a way that creates a win-win situation for corporate entities as well as helps government agencies to fulfil their statutory responsibilities to society, and protects the public interest.

Ikongbeh, in his contribution, acknowledged the ‘game-changing’ nature of the new amendments – especially those that have removed the need for lawyers to engage in ‘legal engineering’ (as he put it) or otherwise cut corners on behalf of clients.

Other panelists spoke in a similar vein, each one citing a provision or provisions of particular interest.

The question and answer session that followed the session was an equally lively one, as delegates expressed particular concern about the bureaucratic bottlenecks responsible for the delay in registering trademarks, and called for its overhaul to offset the cost of such delays.

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