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VOL. 10, ISSUE 5 (2024)
Corporate survival strategies for companies in financial trauma under the companies and allied matters act (Cama) 2020 in Nigeria: An appraisal
Authors
Osamolu Samuel Adedoyin, Obagboye Tomi Grace, Jane Nneka Oranmunwa, Memabasi Udowoima
Abstract

Nigeria is one of the world’s leading business locations on the African continent. However, operating a company in Nigeria is fraught with several challenges. 80% of new businesses fail within the first 3 years.

Companies in Nigeria are fraught with many challenges to remain as a going concern and have faced turbulent times recently. These challenges include tough economic climate, inflation, harsh operating environment, stiff competition or difficult regulatory compliance, among others. Thus rather than fizzle out, companies that want to stay afloat must design and embark on legally acceptable survival options, many of which are provided for in the Companies and Allied Matters Act (CAMA) 2020. These restructuring options could be Internal that is involving arrangements between a company and its members or creditors, or External, that involving the company and outsiders. This paper examines the internal and external restructuring options available to companies in Nigeria.
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Pages:4-10
How to cite this article:
Osamolu Samuel Adedoyin, Obagboye Tomi Grace, Jane Nneka Oranmunwa, Memabasi Udowoima "Corporate survival strategies for companies in financial trauma under the companies and allied matters act (Cama) 2020 in Nigeria: An appraisal". International Journal of Law, Vol 10, Issue 5, 2024, Pages 4-10
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