A Bill for an Act to Amend the Companies and Allied Matters Act, 2020 to Simplify Reporting Requirements for Small and Medium Enterprises (Smes), Balance Transparency in the Data of Persons With Significant Control of Sme's with Privacy Rights, and for Related Matters
National Assembly (2024)
Working Paper
This Bill seeks to amend the Companies and Allied Matters Act, 2020 to: Simplify reporting requirements for small and medium-sized enterprises (SMEs) to encourage compliance and reduce administrative burdens. Balance the need for transparency in the information of persons with significant control or SME's with privacy rights by ensuring that such information is securely maintained and accessible only for lawful purposes. Enhance corporate governance and accountability while promoting ease of doing business in Nigeria.