President Muhammadu Buhari has appealed to Nigerians that are aggrieved with the new Company and Allied Matters Act 2020, CAMA, signed into law in August to be patient and seek reforms in line with democratic practices.
The president made the appeal at the two-day joint an executive-legislative retreat designed to promote harmonious working relationship between the two arms of government, held in Abuja on Monday.
The News Agency of Nigeria reports that the new Company and Allied Matters Act 2020, CAMA, signed into law by President Buhari on Aug. 7, had been generating negative comments from various quarters including religious leaders.
The contentious part of the law in section 839 (1) and (2) which empowers the Corporate Affairs Commission, CAC, to suspend trustees of an association (including places of worship) and appoint the interim managers to manage the affairs of the association for some given reasons.
Many stakeholders, including church leaders, have expressed reservation over some sections of the new Company and Allied Matters Act 2020, and called for its urgent review.
However, Buhari had on Sept. 24, in a statement by his spokesman, Femi Adesina, explained that the recently passed Companies and Allied Matters Act, 2020 (CAMA), would entrench transparency and corporate accountability and enhance the fight against corruption.
The president, who reminded the citizens that the process of law-making and governance are dynamic, said his administration would continue to promote and ensure justice, peace and progress in the country.
“Let me also remind our fellow patriots, countrymen and women that the process of law making and governance are dynamic and ever evolving.
“I will seek their indulgence to be patient with any legislation or law which they have certain misgivings about and engage the process for reviewing such law in line with democratic practices.
“Our interest is the sincere promotion of our collective will and aspirations to build a nation where justice, peace and progress are the norms,’’ he said.