The House of Representatives has called the Bill (Amendment) on the Companies and Related Affairs Act (CAMA), signed by President Muhammadu Buhari on Friday, August 7, 2020, as a historic achievement.
On February 25, during a meeting with the Presidential Council for the Business Environment headed by Dr Jumoke Oduwole, the President’s Special Advisor on Ease of Doing Business, President Femi Gbajabiamila assured Nigerians that the House would expedite the review and amendment of CAMA. , stating that the bill was a key priority of the 9th Chamber, necessary to address national economic challenges and improve the legal framework for doing business in Nigeria.
In a statement by House spokesperson, Hon. Benjamin Kalu, he said, “The bill which was passed just two weeks after this promise is the result of the determination of both houses of the 9th National Assembly to make doing business in Nigeria easier.”
“Its final approval in law marks a key milestone in the realization of the House’s legislative program under the leadership of President Femi Gbajabiamila and is attributable to the harmonious working relationship between the Legislative Assembly and the executive.
“The Nigerian economy remains a priority for the 9th Chamber and in the same way it has swiftly and diligently passed the Finance Law, the Deep Sea Sharing Formula Law and the Revised 2020 Finance Law, the Chamber will continue to deploy strategic legislative interventions. to improve governance and make the business environment more accommodating.
“In the future, the House will give priority to the Election Law (Amendment) Bill, the Constitution Amendment and the Petroleum Industry Governance Bill (PIGB), among other laws very important, as promised by the president in different fora and in accordance with the contract. between members of the House and the Nigerian people, for “nation building” is indeed a “joint task”. ” He said.