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Company And Allied Matters Act 2020 And Public Perception
[A CASE OF NIGERIA CHURCHES]
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In July 2016, the Nigerian government, through President Muhammadu
Buhari, established the Presidential Enabling Business Environment
Council (PEBEC) whose main role was to lift bureaucratic trade
restrictions in Nigeria. and make Nigeria an easier place to start a
business and grow. The construction is necessary to capitalize on the
Nigerian climate economy to the World Bank Group action, which
encourages the industry to compete for better policies. while providing
standard measurement tools for modification, and also working as a
resource for potential clients. industry economy of every economy.
In
the past, the Business and Friends Partnership has managed the economy
in Nigeria for thirty years unchanged despite changes in the business
environment that have been out and there are some rules of law to do
business. On 7th of August 2020, President Muhammadu Buhari assented to
the Companies and Allied Maters Act, 2020 (CAMA 2020), after years of
preparation and deliberations by the National Assembly. The Act repeals
and substitutes the Companies and Allied Matters Act, 1990 (Repealed
Act)
1.2 Statement of the problem
One of the events that
accompanied the year 2020 after the covid 19 pandemic is the
re-visitation made to the company and allied matters act (CAMA 1990) by
the house of assembly and assented by the President of the federal
republic of Nigeria. The company and allied matters act has been in
operation sine 1990. During this period, it has of course regulated the
way and manner business organizations are incorporated and managed in
Nigeria. One peculiar aspect of the CAMA 1990 is the exclusion it
granted the non-governmental organizations and the ‘charity
organizations. Charity organizations include institutions like the
church and the mosque. For almost 30 years the CAMA 1990 has been
operational and detects the way and manner business are operated.
However, in 2020, the government thought it wise to recalibrate on
business operations with an intention to bring ease especially to small
and medium scale ‘businesses. Also, to provide the necessary frameworks
for businesses to align with intentional standards, thereby creating a
confident environment for foreign investment. While this intention is
valid and greatly applauded by the Nigeria population, it has also
caused uproar in the country as the Christian body has perceived one of
the amendments as an intrusion into its sacred heart. The government in
its amendment had included charity organizations as organizations to be
;regulated and their accounts supervised. The amendment also hold that
the corporate affairs commission can appoint administrator to supervise
and the board of trustee of charity organizations. While the actual
intention behind this clause is yet to be known, it has not been
accepted by the Christian association. This study therefore is carried
out to determine the public perception of the CAMA 2020 amendment and
the regulation of charity and non-governmental organizations by the
corporate affairs commission.
1.3 Objectives of the study
The
primary aim of this study is to find out the public perception of CAMA
2020 as it concerns the regulations of non-governmental and charity
organizations. Specifically, the study seeks to:
Find out how individuals understand the inclusion of administration of charity organizations.
To ascertain the perception of the public towards CAMA 2020.
To determine if there is a significant difference in the perception of individuals on CAMA 2020.
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