Worried that he may withhold assent again, the Lagos Chamber of Commerce and Industry, LCCI, has appealed to President Muhammadu Buhari to give assent to the Companies and Allied Matters bill
The Companies and Allied Matters Bill was passed by the National Assembly
LCCI’s Director General, Mr Muda Yusuf, made this plea in a statement on Sunday while also commending the National Assembly for passing the CAM bill.
Yusuf said: “It is delighting to note that the bill is now before the President for assent. The LCCI urges the President to expeditiously assent to the bill in view of its immense potential impact in catalysing the growth and transformation of the Micro, Small and Medium Enterprises in the Nigerian economy. “
The Companies and Allied Matters Act 1990 is the extant legislation governing business registration and related issues in the economy.
Picking holes in CAM Act, 1990, the LCCI said many of the provisions were not in tune with current realities of the business environment.
“The CAM Bill 2018 is, therefore, a laudable move to make the legislation more contemporary and also bring it into alignment with the ease of doing business agenda of the present administration,” Yusuf stated.