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Osinbajo Finally Declares Position On CAMA Law

The Vice President Prof. Yemi Osinbajo has urged those who have concerns about the recently-signed Companies and Allied Matters Act (CAMA) 2020 to approach the National Assembly.

He said such persons can get possible amendments, since “We are in a democracy.”

Prof. Osinbajo spoke at the ongoing Nigeria Bar Association Annual General Conference during a Special Conversation.

He said “we have a process by which this can be redressed. Whatever the proposal for amendment may be, whatever the view of the leadership of the church may be, regarding the question of how the trustees, whether they are interim trustees or not, can be put into a proposal that will be brought to the National Assembly for consideration for an amendment to the law, that is the process which is entirely opened and ought to be pursued.

“We are in a democracy and there is a process by which things can be done and that process is the one where you bring forward amendments to the National Assembly and they will do whatever is considered useful in the circumstance.”

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N50,000, N30,000 To Be Distributed Among 433,000 Nigerians, Businesses By FG

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Tola Johnson, Special Assistant to  President Muhammadu Buhari on Micro Small and Medium and Medium Enterprises(MSMEs), says 100,000 small businesses will get N50,000 each.

NAN reports that the gesture is part of COVID-19 economic stimulus.

The presidential aide made the announcement at the inauguration of the Implementation of Survival Fund and Guaranteed Off-Take Stimulus Schemes for MSMEs on Thursday in Abuja.

Johnson, the Project Coordinator, said that the schemes were part of the Economic Sustainability Plan drafted by Vice President Yemi Osinbajo-led committee and approved by President Muhammadu Buhari.

“The Payroll Support targets 100,000 businesses. However, the number of individuals who will benefit from this is 500,000. What the government has done is to say that there a lot of MSMEs that have been affected by the COVID-19 pandemic lockdown.

“Afterward, there is a CAC (Corporate Affairs Commission) free registration; it is free for the MSMEs but the government is paying the CAC for this. What the government has done is to say to the CAC, you do this regularly to the MSMEs at about N12,000 or thereabout; give it to us at half price, we will give it to the MSMEs free.’’

Johnson added that under the National MSMEs Clinic, Osinbajo and the Minister of Industry, Trade and Investment went to no fewer than 26 states.

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He said it was discovered that very creative businesses were not registered.

“They will tell you they don’t have N10,000 to N12,000 to register their businesses. The government had promised that at some point, we will do and I think the opportunity has come now; the opportunity cannot be better than now.’’

The official also announced that under the Survival Fund, the last strap would be the Transport and Artisans Support.

At least 333,000 beneficiaries will get a one-off N30,000 grant, Johnson said.

He added that the government will work with associations, individuals and the Ministry of Transportation to implement the scheme.

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