THE AMENDMENT OF THE COMPANIES AND ALLIED MATTERS ACT
On the 15th day of May 2018, the Senate at its plenary session finally passed the Bill for an Act to Repeal the Companies and Allied Matters Act 1990 (CAMA) and enact the Companies and Allied Matters Act 2018. Should the bill receive the Presidential Assent, it would improve Nigeria‚Äôs ranking in the World Bank Ease of Doing Business index and also enhance Nigeria‚Äôs system of company law and corporate governance.
The use of the Mace gained significant momentum and acceptability as the true symbol of Legislative authority, such that, its disappearance, cannot be tolerated. On the 18th of April 2018, a serving Senator, Sen. Ovie Omo-Agege representing Delta State Central Senatorial District allegedly led five thugs, disrupted Plenary Session of the Senate and took away the Mace of the Nigerian Senate.