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VOL. 11, ISSUE 5 (2025)
Interogating the features and statutory compliance of the one-man company structure under CAMA 2020
Authors
Jerome Okoro, Leonard Ugwu, George R C Ibekwe
Abstract
Among the numerous radical changes introduced in the Nigerian corporate
law ecosystem by the Companies and Allied Matters Act, 2020 is the possibility
of a company taking off and proceeding with only one member. The merits of this
innovation would be easily appreciated, considering that the requirement of
multiple shareholders and the complexity of ownership and control structure
imposed the option of sole proprietorship and partnerships on businesses which
would otherwise have chosen the limited liability company form. With CAMA 2020
bringing a huge relief to entrepreneurs who desired stand-alone membership
under the company structure, the next big question is: what are the requisite
compliance duties for this new corporate form where ownership and control
reside in one person as sole shareholder? Are company meetings for instance,
still requisite for the one-member company, with the strangeness it would pose?
The law provides ample guides to the sole-owner company in the solitary journey
and through migration to the multiple-member structure. This article presents
an exposition of those guides.
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Pages:108-111
How to cite this article:
Jerome Okoro, Leonard Ugwu, George R C Ibekwe "Interogating the features and statutory compliance of the one-man company structure under CAMA 2020". International Journal of Law, Vol 11, Issue 5, 2025, Pages 108-111
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