CAN Writes President Buhari Over CAMA Law, Wants Implementation Suspended

CAN Writes President Buhari Over CAMA Law, Wants Implementation Suspended

The Christian Association of Nigeria has  written a letter to President Muhammadu Buhari, requesting him to suspend the implementation of the Companies and Allied Matters Act, 2020.

In a letter signed by CAN President, Samson Ayokunle, the association said it was yet to be availed with the authentic version of the voluminous Act, made up of 870 sections besides the sundry and complex schedules and addendum.

The letter reads, “While we sincerely appreciate the courtesy of your invitation, we are, however, constrained from doing so on the following grounds: We are yet to be availed with the authentic version of the voluminous Act, made up of 870 sections besides the sundry and complex schedules and addendum.

“Furthermore, we are mindful that comments in public domain are beginning to indicate that CAMA, 2020 has the potential that can further undermine the faith of stakeholders in the Nigerian-state. The reactions from public officeholders have not helped matters because they are binary in perspective and pander towards a fait accompli.

“The dominant schools of thought in the public domain, hold the view that should stakeholders of the Nigerian-state seek judicial intervention or amendment of the Act by the National Assembly, they shall achieve nothing much, as they consider such, as exercises in futility.

“Mr President, from the foregoing, we are of the opinion that you should kindly issue the appropriate directives to suspend the implementation of CAMA 2020 and affirm a thorough reappraisal of the legislation that is in correlation with the provisions of the 1999 constitution of Nigeria (as amended), other extant legal and policy frameworks, the national economy, national security, national interest and the wellbeing of the Nigerian-state.

“In order to participate actively in such an exercise, you may wish to kindly furnish us with an official version as assented by you. This will enable us do the due diligence required, please.”
 

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SaharaReporters, New York



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Source: CAN Writes President Buhari Over CAMA Law, Wants Implementation Suspended