Legislations that govern corporate governance in Nigeria | Ugochukwu Kingsley Ani

PRINCIPAL LEGISLATIONS
Companies and Allied Matters Act(CAMA) 2004
Investment and Securities Act(ISA) 2007
The Companies and Allied Matters Act is divided into 3 parts. These are:
PART A- INCORPORATION OF COMPANIES Sections 1-568 of CAMA.
PART B- REGISTRATION OF BUSINESS NAME Sections 569-589 of CAMA.
PART C- INCORPORATED TRUSTEES Sections 590-612 CAMA
There are other subsidiary laws to CAMA—
Companies Proceeding Rules 1997
Companies Regulation 2012
Companies Winding-up Rules 2001.
OTHER RELEVANT LAWS:
Nigerian Investment Promotion Commission Act
National Office for Technology Acquisition and Promotion Act
Banks and Other Financial Institutions Act
Immigration Act
Customs and Management Act
Export(Incentives and Miscellaneous Provisions) Act
Federal High Court Act
Industrial Inspectorate Act
Foreign Exchange( Monitoring and Miscellaneous Provisions) Act
Insurance Act
Constitution of Federal Republic of Nigeria(as amended) 1999
Stamp Duties Act
Nigerian Minerals and Mining Act
Asset Management Corporation of Nigeria Act
Companies Income Tax Act
Petroleum Profit Tax Act
Mortgage Institution Act
Nigerian Communication Commission Act
National Insurance Commission Act

REGULATORY BODIES:
Corporate Affairs Commission(CAC) established by CAMA, S. 1(1)
Securities and Exchange Commission(SEC) established by ISA 2007, S.1(1)
Central Bank of Nigeria, established by Central Bank of Nigeria Act
Nigerian Investment Promotion Commission(NIPC), established Nigerian Investment Promotion Commission Act
Federal High Court established by S.249 of Constitution of Federal Republic of Nigeria(as amended) 1999 and S. 1 Federal High Court Act
National Insurance Commission  established by National Insurance Commission  Act
Nigerian Communication Commission established by Nigerian Communication Commission Act
Asset Management Corporation of Nigeria established by Asset Management Corporation of Nigeria Act
National Office for Technology Acquisition and Promotion, established by National Office for Technology Acquisition and Promotion  Act
Nigerian Stock Exchange, established by the Investment and Securities Act. It regulates the sale and purchase of securities of companies
National Industrial Court established by S. 254A of CFRN 1999, (3rd Alteration) Act
Investment and Securities Tribunal established by S.274 of ISA
Tax Appeal Tribunal, established by Federal Inland Revenue Service(Establishment) Act
Nigerian Deposit Insurance Corporation, established by Nigerian Deposit Insurance Corporation Act
Federal Inland Revenue Service, established by Federal Inland Revenue Service (Establishment) Act. It administers various tax enactments e.g Companies Income Tax, Personal Income Tax, Stamp Duty.

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About kingsleyadrian

Kingsley Adrian is a model, poet, novelist, blogger/infopreneur, & Lawyer living and working in Victoria Island, Lagos...
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