COMPANY AND ALLIED MATTERS ACT 2020 AND PUBLIC PERCEPTION: THE CASE OF…
COMPANY AND ALLIED MATTERS ACT 2020 AND PUBLIC PERCEPTION: THE CASE OF NIGERIA CHURCHES
1.1 Background of the study
The role of law can be reactionary, progressive, or neutral depending on how it is applied, what interests it seeks to serve, and how it interacts with the full range of other factors that influence individuals ’decisions. It is important to note, however, that the law, while generally reflecting the prevailing realities of a given society, can also be used as a proactive tool to promote development and thus to influence and change the realities it is supposed to reflect. The question of how the right can be used to achieve short-term economic recovery and long-term sustainable development addresses a key concept of the legal framework at both national and international levels. Contrary to the usual conceptualization, such a framework does not consist only of the applicable legal rules. The framework can be defined on the basis of a three-column system. “The first pillar is the legally binding rules. We do not know such rules only in advance. These are, in effect, implemented by the State at all parties involved and can only be modified in accordance with previously known procedures.
The second pillar contains the necessary procedures from which such policies were developed and in which they were implemented in practice or in place when appropriate. The adequacy of these procedures will obviously vary according to the circumstances of each country. Legal processes can often be successful if they are not compliant, as the process of consulting with people affected by the law and being realistic in their expectations for current temples. The third pillar of the legal system is to have a well-functioning public school run by people who are trained and patient, transparent and accountable to the public, have the be responsible and compliant with the rules, and apply these rules without restrictions and corruption. Successful and honest lawyers are the end of the work ethic. The lack of well-managed institutions to enforce the rules and resolve disputes is a precursor to “rules” and “procedures”. This absence requires more emphasis on those who want a government or federal decision when adopting new rules, until a suitable home is built.
By this I mean rules that rely on many personal processes rather than tasks. Company law rules include those that require the disclosure of relevant information and regular review by internal and external auditors. , representatives of minority members in companies or consumers in public property, as well as important decisions by professionals. mostly in these tables. The court played a key role in the system in accordance with the rule of law. This role is played by business orientation in dispute resolution, including mediation, mediation, and litigation. As it should now be apparent, the law does not lay down written rules. This also includes the extent to which this law is enforced by government agencies and how it is used and interpreted by judges and counsel. It is not necessary to imagine the necessary legal basis for a “prediction of what the court will do”, we can say the good work that judges fair implementation of the law, though appreciable, without cost or costly delay, is an integral part and function of the rule of law.
In addition, the legal process requires rules to be interpreted, applied and, if permitted, issued in accordance with established procedures. It is also required that the final assessment should respect the rules as a force of the state and have an independent body to resolve disputes. The court may also find that the rules are not followed by simple rules or regulations. The main task is to investigate and resolve allegations of corruption, bribery and denigration by other branches of government. Taken together, these concepts help create a competitive and positive environment where business relationships can thrive.
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.
1.4 Research questions
The following research questions guides this study
- What are the perceptions of Nigerians towards CAMA 2020?
- Is there a significant difference in the public perception of Nigerians towards CAMA?
1.5 Research Hypothesis
H0: There is no positive public perception of CAMA 2020 by Nigerians.
1.6 Significance of the study
This study will help policy makers align and realign laws and policies to fit into the public demand and create sustainable environment between the government and the populace. This study will also inform the public on the reality of the CAMA law as against their preconception and emotions. Also, this study will serve as reference materials for further studies.
1.7 Scope and limitation of terms.
This study is limited to the Company and allied matters act 2020. also, its focus is on section 839(1) & (2) of the CAMA 2020. The study will examine residents from Lagos state, Nigeria.
Definition of terms
Public: a group of people having common interests or characteristics specifically
Perception: the way in which something is regarded, understood, or interpreted.
CAMA: Company and allied matters act. A law regulating the incorporation and operation of businesses in Nigeria.