Nigerians over the years have waited for the birth of a legislative Frame work that will promote the growth of business enterprises in the country. Respite however came when the 8th National Assembly on 14th of May 2019 passed the Companies and Allied Matters act bill. Top among the features of the bill includes provisions that enhances the ability of anti Corruption agencies to detect and stop corruption, identify persons and companies involved in corruption as well as limit their ability to hide proceeds of corruption in companies registered in Nigeria and other jurisdictions. Surprisingly, President Mohammadu Buhari refused assent to the bill. Addressing the media on the development, the civil society legislative advocacy center (CISLAC) says the action will send wrong signal in the Anti-Corruption posture of the present Administration.
Fred Brains 1263 posts 1 comments