According to the statement, ‘the Bill comes 28 years after the passage of the original Companies and Allied Matters Act and will make Nigeria the best country in Africa to do business. ‘Ease of doing business plays a crucial role in the economic growth of any country. ‘Most of the changes are aimed at encouraging investments that will allow small businesses and startups thrive, lower costs and ease regulatory burdens. ‘In addition, small companies will no longer be required to have a company secretary or hold Annual General Meetings. ‘Minimum share capital required for companies to be registered has been reduced to encourage more investments in small companies and individuals will no longer need a lawyer to register a company.

Source: Nigerian Tribune May 17, 2018 16:30 UTC