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An Act to repeal the Companies and Allied Matters Act, Cap. C20, Laws of the Federation of Nigeria, 2004 and enact the Companies and Allied Matters Act, 2020 to provide for the incorporation of companies, limited liability partnerships, limited partnerships, registration of business names together with incorporation of trustees of certain communities, bodies, associations; and for related matters
The Corporate Affairs Commission (CAC) of Nigeria was established in 1990 vide Companies and Allied Matters Act no 1 (CAMA) 1990 [1] as amended, now on Act cap C20 Laws of Federation of Nigeria. [2]
The Board of Inland Revenue was created in 1958, and the service gained autonomy with the passing of the FIRS (Establishment) Act 13 of 2007. [ 3 ] In 2003, the Federal Government of Nigeria recognized that poor service delivery in the public sector had become an urgent national issue and undertook a series of steps that lead to the entering ...
Corporate Affairs Commission is a body of the Nigerian Government responsible for the regulation and management of companies in Nigeria. It was introduced in 1990 with the passing of the Companies and Allied Matters Act. It is headed by a chairman and closely assisted by the Registrar General/ CEO. The current chairman is Hon Ademola Seriki.
This list comprises the largest companies in Nigeria by revenue and market capitalization as of 2024, according to the ranking of the largest 500 companies in Africa by Jeune Afrique and African Business. Around 30 of the largest 500 companies in Africa by revenue are based in Nigeria.
About 75% of the tax revenue is to be distributed to those cantons where large companies were previously taxed at a lower rate, and the Confederation is entitled to the remaining 25%. On 22 December 2023, the Federal Council decided to apply the Global minimum tax from 1 January 2024
The US dollar exchange rate is an estimated average of the official rate throughout a year and does not reflect the parallel market rate at which the general population accesses foreign exchange. This rate ranged from a high of 520 in March 2017 to a low of 350 in August 2017, due to a scarcity of forex (oil earnings had dropped by half), and ...
The Financial Reporting Council (FRC) of Nigeria, formerly the Nigerian Accounting Standards Board (NASB), is an organization charged with setting accounting standards in Nigeria. On Thursday, 6 May 2021, Shuaibu Adamu Ahmed was inaugurated by the Minister of Industry, Trade and Investment, Adeniyi Adebayo, as the Executive Secretary/Chief ...