The Nigerian Senate Tuesday passed a Bill to repeal and re-enact Companies and Allied Matters Act (CAMA) to make it possible for individuals to register their companies from any part of the world.
Speaking during the passage of the bill, the Senate President, Bukola Saraki, said the ease of doing business plays a crucial role in the economic growth of any country hence the need for the Senate to amend the act.
“The processes, rules, and regulations set up by the government or government agencies can either help promote a business-friendly environment or hold businesses back from their entrepreneurial ambitions.
“With the passage of CAMA, we are reshaping Nigeria and we changing how Nigerians do business.
“I thank my colleagues for reaching another milestone on our legislative agenda that will positively impact the lives of millions of Nigerians,” he said.