CAMA 2020: CAC wields big stick, classifies companies as inactive

Following the commencement of the implementation of Companies and Allied Matters Act (CAMA 2020), the Corporate Affairs Commission (CAC) has reclassified many limited liability companies as inactive due to failure to submit their audited financial transactions. Garba Abubakar, registrar-general of CAC, told newsmen in Abuja that the implementation of CAMA 2020 has begun in earnest….