LCCI wants urgent gazetting of CAMA 2020

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By Rukayat Moisemhe

Lagos  – The Lagos Chamber Commerce and Industry (LCCI) has called for the urgent gazetting the Companies and Allied Matters Act 2020 to address uncertainties decisions which require its legislative anchor to progress.
Dr Muda Yusuf, -General LCCI, in a statement on Monday, said the lack a gazetted copy had created a legislative vacuum, six weeks after assent.
Yusuf said it implied that the formal copy the not yet available to the public and therefore could not be operationalised.
The DG said the ongoing digital revolution and the e- Government agenda of government, the should have been uploaded on the federal government and Assembly websites hours after ’s assent.
He called for accelerated implementation of e-Government to make the public service smarter, efficient and cost effective.
“The Company and Allied Matters Act [2020] assented to by , GCFR on Aug. 7, 2020.
“The legislation and the subsequent assent were widely applauded by the community.
“However, six weeks after, the legislation is yet to be gazetted.
“This is yet another example of how bureaucratic bottlenecks could impede the progress of an economy.
“Being a major legislation, the non-availability of the gazetted copy of CAMA 2020 has stalled many activities in the .
“These are activities anchored on the legislation,” he said.
Yusuf said that additionally, the regulations that ought to be issued by the Corporate Affairs Commission on account of the legislation had been stalled because there no formal document to act upon.
“It is important that the bureaucracy works in tandem the normal of leveraging so that the desired outcomes of reforms can be achieved, and expeditiously too.
“We urge the Assembly and other relevant agencies of government to expeditiously gazette CAMA 2020 and make copies available to the public,” he said.