A critical analysis of the company and allied matters act 2020 in Nigeria's pursuit of foreign investment

Abstract

The Company and Allied Matters Act (CAMA) 2020 represents a significant milestone in Nigeria’s corporate governance and business regulatory framework, aimed at improving the ease of doing business and attracting foreign investment. This article explores the implications of CAMA 2020 on foreign direct investment (FDI) and shareholder protection, emphasizing the Act's role in fostering a more transparent, accountable, and investor-friendly environment. The paper also conducts a comparative analysis between Nigeria's corporate governance framework and that of the UK, with particular attention to enforcement challenges in Nigeria's judicial system. The analysis culminates in recommendations for enhancing investor confidence and promoting Nigeria’s global competitiveness through legislative reforms.