AN APPRAISAL OF THE NEW CORPORATE GOVERNANCE REGIME UNDER THE COMPANIES AND ALLIED MATTERS ACT 2020

Abstract

The birthing of CAMA has been hailed in some quarters as a watershed as it has put an end to the thirty years Old CAMA 1990 (now repealed) governance regime and set a new part towards corporate governance architecture in Nigeria. This article x-rayed the Corporate governance provisions under CAM4 2020 (as amended) with a view to ascertain if the governance provisions contained therein is in tandem with global best practice. It was observed that while some of the governance provision were an improvement on the old order represented by the CAMA 1990(now repealed) some other governance provisions are still off the mark asfar as global best practice is concerned. It was therefore recommended that there is need to do further amendment to align the governance provisions with global best practice. And more importantly that the nation will gain more if effort is not spared to ensure consistent and evenly enforcement ofthe lofty corporate governance provisions and that it is by so doing that aim ofthe new CAMA 2020 (as amended) may be achieved.