E-Business
CAC Mulls New Software for CAMA 2020 Implementation— Abubakar
Alhaji Garba Abubakar, registrar-general, Corporate Affairs Commission (CAC), has said that the commission is putting machinery in place to begin full implementation of the Companies and Allied Matters Act (CAMA) 2020 in first week of 2021.
Abubakar said this at the Institute of Directors (IoD) National Stakeholders Forum on the CAMA 2020.
He said that the commission was working on a new software, expected to be ready by middle of December, to accommodate all the changes available in the new Act.
The registrar-general said the software was upgraded to be end to end, with all modules incorporated with interface for document uploads, user names, passwords, among other secure electronic measures.
He, however, said April 1 was take off date for companies that fell under Limited Partnership and Limited Liability Partnership categories.
Abubakar said that the measures were to ensure that the infrastructure required to achieve the objectives of the Act to enhance operational and regulatory functions of business were enhanced.
“The Act has introduced measures to make Nigerian company law better fitted to today‘s realities, improve the business environment and performance across the economy as well as reduce direct compliance costs for businesses. We recognise that the Act is not a perfect piece of legislation, and this is to be expected for a 606-page, 870-section legislation which is arguably the largest single legislation to come out of the annals of the Nigerian legislative chamber. Generally, however, the Act has been acclaimed a major reform landmark in the promotion of enterprise in Nigeria and the reform of her business environment,” he said.
Abubakar said that the CAC had put together the Draft Companies Regulations 2020 (the Regulations) to complement the substantive provisions of the Act.
He said that the regulations were to also possibly address some gaps therein, which are within the competence of regulations to address.
The CAC chief said the regulations were published on the Commission’s website on Nov. 2, 2020 while inviting submissions from the general public.
“Submissions have been received from some groups and individuals The Commission is presently reviewing the submissions for further action(s) as may be necessary for effective regulation.
“We hope that at this point, operators would have conducted (or be conducting) gap-analyses to determine what actions are necessary on their parts to align their operations with the requirements of the Act,” he said.
Prof Koyinsola Ajayi, SAN, managing partner, Olaniwun Ajayi LP, said the Act would in a huge way positively influence business operations due to its provision of consideration of the right of stakeholders.
He lauded the introduction of more orderly and effective procedures for business rescue and resolution of insolvency.
“CAMA used to focus largely on the shareholders but it has now taken in those also important to the survival of a business environment such as directors, employees, customers and others. The provisions on insolvency are far reaching, deeper, and international, as it introduces the concept of administration on insolvency that helps work a company back to liquidity. The Act would also give the court a better grasp when dealing with issues that have to do with business. CAMA has been structured to make financing by companies cheaper and easier,” he said.
The federal government and the United Kingdom signed an agreement Tuesday to combat the growing threat of cyber-crime. The Memorandum of Understanding was signed following a courtesy visit by David George Hanson, minister of the home office, UK, to the Nigeria Police Force headquarters, Louis Edet House in Abuja.
Transnational crime is a big problem for both the UK and Nigeria, so the governments intend to strengthen existing collaboration efforts to crack down on cyber-criminals and protect their industries from unlawful activities.
Offences such as online fraud, identity theft, digital extortion, and ransomware , operate across many jurisdictions, and frequently necessitate sophisticated cooperation efforts, according to the two governments during a press conference.
Furthermore, Lateef Fagbemi, Nigeria’s attorney-general and minister of justice, established the Joint Case Team on Cybercrime, which aims to address the need for a coordinated and robust approach to combating cybercrime, as stated in the Cybercrimes Act of 2015, which criminalises cyber-related offences.
Hanson underlined the importance of ongoing cooperation efforts to combat international crime in a number of areas, affecting vulnerable individuals.
He said: “We need to look again at how we can build cooperation between the Federal Government, the federal police, and our police forces and National Crime Agency to take action against these international criminals, who are exploiting vulnerable people in a whole range of areas. The National Crime Agency, the Home Office Fraud Department, and the High Commission need to make sure we make a big impact on this transnational crime.”
“The collaboration between the Nigerian Police Force and National Crime Agency continues to serve as a model in international law enforcement cooperation. We have successfully conducted joint operations into many cases of cybercrimes and online fraud. With your [UK government] cooperation, we have continued to bust other criminal networks around the world,” added inspector-general of Nigerian Police Force, Kayode Adeolu Egbetokun.
Corporate Affairs Commission (CAC) has reaffirmed its commitment to enforcing business registration laws in Nigeria, warning that individuals and organizations operating unregistered businesses will face prosecution.
In a statement, the CAC emphasized that conducting business without proper registration violates the Companies and Allied Matters Act (CAMA) 2020, undermining transparency and accountability in the corporate sector.
The commission stressed that registration is not only a legal requirement but also a gateway to formal business opportunities, including access to bank loans, government grants, and partnerships.
The enforcement drive will be nationwide, targeting small and medium-sized enterprises (SMEs), online vendors, and informal traders who have failed to comply despite previous awareness campaigns and registration amnesty windows.
The CAC disclosed that enforcement teams, in collaboration with security agencies, will be deployed to identify and prosecute defaulters.
The commission urged business owners to take advantage of its simplified registration platform to regularize their status, noting that compliance will boost investor confidence and improve Nigeria’s ease of doing business. It warned that ignorance of the law will not be accepted as an excuse.
Business owners are advised to act promptly to avoid legal consequences, as the CAC moves to ensure a more structured and regulated business environment in Nigeria.
Nigerian Copyright Commission (NCC) has pledged to enforce its legal obligations to combat online intellectual property infringement and urged commercial music users to obtain proper licences from rights holders or their representatives.
The Commission stated that this ensures creators are fairly compensated, supporting the music industry’s sustainable growth.
In a statement commemorating the 2025 World Intellectual Property Day, themed “IP and Music: Feel the Best of IP,” the NCC announced plans to enforce the Copyright Act 2022, which allows for the takedown of infringing materials and blocking of websites hosting illegal content.
Signed by Mrs Ijeoma Egbunike, director of Public Affairs, the statement outlined an aggressive anti-piracy campaign in collaboration with the private sector, targeting the online environment.
Egbunike affirmed the NCC’s commitment to establishing enforceable standards for transparency, digital audits, and real-time royalty reporting to protect creators’ rights. She stated, “The NCC will continue to champion policies that support the growth of the music industry, improve the livelihoods of Nigerian musicians, and foster a culture of creativity and respect for intellectual property.”
Despite the global success of Afrobeats and other Nigerian genres, the NCC noted that many musicians face low royalty returns due to rampant digital piracy.
To address this, the Commission revised its Collective Management Regulations to enhance transparency and accountability among Collective Management Organisations (CMOs).
The NCC emphasised that proper licensing is a legal obligation and vital for Nigeria’s creative economy, stating, “Music must feel the beat of intellectual property for the full potential of creativity to be realised.”
The Commission highlighted that creators’ livelihoods depend on fair royalty compensation.
Recent enforcement measures include the NCC’s designation by the Attorney-General of the Federation as an authority under the Proceeds of Crime (Recovery and Management) Act 2022.
This, combined with the Copyright Act 2022, empowers the NCC to order takedowns and block illegal music distribution websites.
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