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VOL. 11, ISSUE 8 (2025)
The concept of a company: A legal and commercial perspective on Nigeria’s corporate framework under CAMA 2020
Authors
Dr. Ibrahim Aliyu Shehu, Dr. Hamidu Ardo, Abubakar Sadiq Usman
Abstract
This paper critically examines the concept of
corporate personality within the Nigerian legal framework, with a specific focus
on public shareholding companies governed by the Companies and Allied Matters
Act (CAMA) 2020. It explores the doctrinal underpinnings of incorporation, the
legal separation between a company and its members, and the commercial
advantages that arise from this structure, including limited liability and
perpetual succession. The study adopts a doctrinal research methodology,
analysing statutory provisions, case law, and comparative jurisprudence to
trace the evolution and application of corporate legal personality in Nigeria.
It further investigates practical challenges facing public companies in
Nigeria, including regulatory enforcement gaps, abuse of the corporate veil,
and declining investor confidence. The paper evaluates how CAMA 2020 introduces
innovative reforms such as simplified incorporation procedures, enhanced
corporate governance rules, and mechanisms for minority shareholder protection
while acknowledging persistent systemic weaknesses in enforcement and
compliance. Ultimately, the research offers actionable recommendations for
strengthening Nigeria’s corporate regime through regulatory synergy, judicial
reforms, and investor protection strategies. By blending legal theory with
commercial practice, the paper underscores the role of corporate law as a
catalyst for economic development and institutional integrity.
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Pages:47-53
How to cite this article:
Dr. Ibrahim Aliyu Shehu, Dr. Hamidu Ardo, Abubakar Sadiq Usman "The concept of a company: A legal and commercial perspective on Nigeria’s corporate framework under CAMA 2020". International Journal of Law, Vol 11, Issue 8, 2025, Pages 47-53
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