Under the Companies and Allied Act (“CAMA”) 2020, private companies in Nigeria may operate with a single shareholder. Section 18(2) of CAMA introduced the concept of single-member private companies, thereby removing the previous requirement that a private company must have at least two shareholders. This reform reflects the legislative intent of promoting ease of doing business in Nigeria by simplifying corporate structures, reducing unnecessary compliance burdens and providing more options for entrepreneurs and investors. Despite the provision of section 18 (2) CAMA, some companies found that they could not transition to single-shareholder companies as applications for such restructuring were queried … Continue reading COURT VALIDATES SINGLE SHAREHOLDER COMPANIES IN NIGERIA