An anti-corruption group, Socio-Economic Rights and Accountability Project (SERAP) says it will sue President Muhammadu Buhari over the Companies and Allied Matters Bill 2020, which was recently passed by the National Assembly.
A statement signed by a media aide of the president, Femi Adesina, said the President’s action on the document repealed and replaced the extant Companies and Allied Matters Act, 1990, and introduced several corporate legal innovations geared toward enhancing ease of doing business in the country.
Reacting to this, SERAP took to its Twitter handle and wrote: “The Companies & Allied Matters Act (CAMA) 2020 is the most repressive law in Nigeria’s history.
“It will be used to further suppress citizens’ rights.
“@DrAhmadLawan Senate & @femigbaja House passed it. @MBuhari signed it.
“We’re challenging this illegality in court.”
More details soon…