The Bill for New CAMA (Company and Allied Matters Act)

The Bill for New CAMA (Company and Allied Matters Act) was passed by the National Assembly few days back. I have studied the provisions and I think you could benefit from it especially if your business has not been registered. What we call “One man business” can now be officially registered online thus reducing costs. You don’t need a Board of Directors neither will you be compelled to audit or hold AGM or even employ a Company Secretary if your annual turnover is under 10m. Advantage is that with proper documentation, you can approach a Finance house for funding. There are many facilities available both at the CBN, BoI, Micro Finance Banks, other development concerns and Commercial Banks. You can only access these funds if you have a relationship with the institution of your choice – open an account. There is a level you cannot reach in business growth as long as you operate under the shades. At most it’s a hand to mouth outfit. If you want assistance in proper documentation of your activities and name, accessing loans and other facilities, you can send a Whatsapp chat on my private page “It is Possible” 08034089733. We shall take it from there and handle the issues as may be necessary. This is Christian Economics with John Uzoma.

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