News
New CAMA will boost foreign direct investment — Capital market operators
Capital market operators on Monday expressed optimism that the the amended Companies and Allied Matters Act, (CAMA) 2020 assented to by President Muhammadu Buhari would boost foreign direct investment in the country.

They told the News Agency of Nigeria (NAN) in Lagos that the amended CAMA, if well implemented, had the potential to increase foreign direct investment with attendant positive impact on foreign exchange market as well as exchange rate.
Recall that Buhari, on Aug. 7 in Abuja, assented to the CAMA Bill, 2020 recently passed by the National Assembly.
The Bill, now Companies and Allied Matters Act, 2020 (“the Act”), repeals and replaces the extant Companies and Allied Matters Act, 1990, and introduces several corporate legal innovations aimed at enhancing ease of doing business in the country.
Some of such innovation are reduction in filing fee and other reforms to encourage small and medium enterprises; provisions for the establishment of private companies with a single shareholder and limited liability partnerships and limited partnerships, among others.
Uche Uwaleke, Professor of Finance and Capital Market at the Nasarawa State University Keffi, who commended the development, told NAN that the amended Act would boost foreign direct investment and investor confidence.
“There is no doubt that the amended Companies & Allied Matters Act represents a boost to the capital in Nigeria and the economy in general.
“It speaks to the ease of doing Business and has the potential to increase foreign direct investment with attendant positive impact on forex market and exchange rate.
“The provisions in the Act that will make this possible include reduction in filing fees for registration and permission to hold virtual Annual General Meetings which reduces costs considerably,” Uwaleke said.
He said that the allowance now made for limited partnerships would likely increase the number of companies that could qualify for listing on any of the Exchanges as Securities Exchanges do not admit partnership forms of business organisation.
Uwaleke anticipated that there would be an improvement in corporate governance of quoted companies by prohibiting anyone from serving as director in more than five public companies and making provision for the protection of minority shareholders.
According to him, speedy filing of returns, now enhanced via electronic filing, and e-meetings will reduce the number of companies at the risk of delisting from the Nigerian Stock Exchange due to late filing of returns.
Uwaleke stated further that encumbrances faced by small companies would reduce as they no longer need to appoint auditors or company secretaries.
“This could have positive impact for the Alternative Securities Market where small companies are listed,” he stated.
Mr Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., said the amended Act came at the right time as the economy needed all the support to propel economic activities.
“It is a welcome development as cost of registering companies will reduce and the whole process has been made easy to encourage junior entrepreneurs and small businesses,” Omordion said.
He, however, called for proper implementation of the amended CAMA to enhance ease of doing business in the country.
Also speaking, Mr Moses Igbrude, immediate-past Publicity Secretary, Independent Shareholders Association of Nigeria (ISAN), commended all the stakeholders behind the success of the amendment from conceptual stage to the final stage of signing it into law.
Igbrude said the amended CAMA would enhance transparency, corporate governance and reduce challenges being faced by businesses in the country. (NAN)
News
Dogara Celebrates Baba Jang at 82, Hails Him as a Visionary Statesman
Former Speaker of the House of Representatives and Chairman, Board of Trustees of the National Credit Guarantee Company Limited (NCGC), Rt. Hon. Yakubu Dogara, has joined Nigerians in celebrating Former Governor Jonah Jang, fondly called Baba Jang, as he clocks 82 years.
In a glowing tribute, Dogara described Baba Jang as a visionary leader whose life and service remain a beacon of hope for generations. He noted that Jang’s tenure as Governor of Plateau State was marked by courage, foresight, and an unwavering commitment to peace, unity, and development.
“Baba Jang’s life is a testimony of service and sacrifice. He invested in infrastructure, strengthened institutions, and worked tirelessly to foster unity in Plateau State. His leadership was never about personal gain but about building lasting foundations for progress,” Dogara said.
He further emphasized that Jang’s integrity, resilience, and mentorship have shaped leaders across Nigeria, adding that his legacy continues to inspire beyond the boundaries of Plateau State.
“As he celebrates 82 years, we honor him not just for the offices he has held, but for the enduring impact he has made on countless lives. Baba Jang remains a statesman, a father figure, and a model of quality leadership,” Dogara added.
The tribute underscores Baba Jang’s enduring influence in Nigerian politics and governance, highlighting his role as a leader whose footprints on the sands of time cannot be erased.
News
Civil Society Coalition Raises Alarm Over Nigeria’s Maritime Boundaries, Oil Wells Allocation
A coalition of Civil Society Organizations (CSOs), maritime experts and policy advocates has raised serious concerns over Nigeria’s maritime boundary management and the allocation of offshore oil wells, calling for urgent intervention by the Federal Government.
The concerns were presented on Thursday in Abuja during a civil society roundtable where the coalition leader, Dr. Gabriel Nwambu, addressed stakeholders and unveiled the communiqué issued after a recent verification mission to Nigeria’s offshore maritime corridor bordering Cameroon and Equatorial Guinea.
The communiqué followed a technical fact-finding and verification exercise conducted at sea on February 28, 2026, focusing on Nigeria’s offshore hydrocarbon blocks OML 114, OML 115 and OML 123 as well as the maritime boundary areas involving Nigeria, Cameroon and Equatorial Guinea.
Dr. Nwambu explained that the mission involved maritime governance stakeholders, mapping professionals and public policy experts who undertook physical observation of the maritime corridor, technical mapping verification and consultations with relevant authorities.
According to the coalition, the mission sought to independently verify the status of Nigeria’s maritime boundaries, offshore hydrocarbon entitlements and the implications of administrative and regulatory decisions affecting the Cross River maritime corridor.
ICJ Judgment Clarified
Presenting the findings, the coalition noted that the 2002 judgment of the International Court of Justice (ICJ) between Nigeria and Cameroon ceded only specific settlements in the southern Bakassi Peninsula — Atabong, Akwabana and Archibong Town — to Cameroon.
The coalition stressed that several areas often assumed to have been ceded were not included in the ruling.
“The Cross River Estuary and the western Bakassi peninsular islands of Dayspring I and II, Abana and Kwa Island were not ceded under the ICJ judgment,” the communiqué stated.
The group further emphasized that Nigeria still maintains maritime boundary continuity between the Cross River Estuary and the Akwayefe River Estuary based on the ICJ cartographic evidence and the physical geography of the region.
Dr. Nwambu also clarified that the Cross River Estuary remains Nigeria’s natural maritime gateway to the Atlantic Ocean and provides Cross River State with direct offshore access.
Questions Over Boundary Management
A major concern raised by the coalition relates to the actions of the National Boundary Commission (NBC) in implementing the Offshore/Onshore Dichotomy Abrogation Act using what it described as a temporary implementation map.
According to the communiqué, the baseline drawn from Tom Shot into the Cross River Estuary effectively closed the estuary’s mouth to the sea, thereby rendering Cross River State non-littoral.
The coalition warned that this development raises serious constitutional, economic and national security concerns.
It further criticized the NBC for failing to demarcate the Nigeria–Cameroon maritime boundary more than two decades after the ICJ ruling, stating that continued reliance on the temporary map could jeopardize Nigeria’s territorial integrity.
The report also alleged that the situation has effectively resulted in the ceding of about 780 hectares of maritime waters within the Cross River Estuary toward the Akwayefe River Estuary to Cameroon.
Oil Wells and Revenue Concerns
Beyond boundary issues, the civil society coalition raised alarm over oil revenue allocation and the management of transboundary oil fields.
According to the findings, the failure of relevant institutions to brief the President on key inter-agency reports could prevent Nigeria from exploiting 49 identified transboundary oil wells located within OML 114 in the Cross River Estuary.
The coalition also raised concerns over alleged financial irregularities relating to the Ekanga and Zafiro transboundary oil fields jointly developed by Nigeria and Equatorial Guinea.
It alleged that more than ₦33 billion may have been approved from the Federation Account in favour of Akwa Ibom State without clear presidential authorization.
The group further questioned whether revenues from the Ekanga and Zafiro fields — estimated at over $8 billion — had been properly remitted into the Federation Account.
Call for Presidential Intervention
To address the concerns, the coalition recommended several urgent measures, including a presidential review of the 2024 and 2025 inter-agency oil verification reports affecting Cross River and Akwa Ibom states.
It also called for the proper demarcation of the Nigeria–Cameroon maritime boundary in line with the ICJ judgment and the establishment of a Presidential Special Investigation Panel to probe the alleged loss of Nigerian maritime waters.
Other recommendations include a forensic audit of revenues from the Ekanga and Zafiro oil fields, investigation into the alleged ₦33 billion payment approvals, and diplomatic engagement with Cameroon to develop transboundary reservoir agreements.
The coalition also urged the Federal Government to restore and recognize Cross River State’s littoral status based on the geographic and legal status of the Cross River Estuary.
National Security Implications
In its concluding remarks, the coalition warned that the issues uncovered during the verification mission have far-reaching implications for Nigeria’s territorial integrity, maritime sovereignty, national security and oil revenue accountability.
Dr. Nwambu called on the President to treat the matter with urgency, stressing that transparent management of maritime boundaries and offshore resources remains critical to Nigeria’s economic stability and geopolitical standing.
The communiqué was jointly signed by representatives of the coalition of civil society organizations, maritime policy experts, technical observers and economic governance accountability groups.
News
Nigerian Youth Storm National Assembly Demands Access to Present Dishonourable Award to Senator
Nigerian Youth under the leadership of Empowerment for Unemployed Youth Initiative (EUYI) on Tuesday stormed the National Assembly to present Senator Olajide Ipinsagba with the Most Dishonourable Senator of the year award.
EUYI previously threatened to present the Senator with the award, citing a plethora infractions and unwholesome dealings especially with his legislative aids and associates.
The group urged the Senate President to grant them access to the hallowed chambers to make the presentation as wake up call to other public servants.
Addressing the press at the National Assembly complex, Comrade Danesi Momoh Prince disclosed that they had gathered as early as 7 am at the National Assembly gate only to discover that the Senate is not sitting and that the embattled Senator was absent despite prior information.
“We’re angry that Senator Olajide Ipinsagba has refused to show up and collect his award for his dishonourable conduct especially as it pertains the exploitation and underemployment of Nigeria youth under his office
“How can a Senator be paying his legislative aid 30,000 naira when the national minimum wage is 70,000 Naira? Is he the only one that needs money? Is it not wickedness to treat unemployed Nigerian youth like that?”, he queried.
The group vowed to go ahead and present the award to the Senator in person, be it in the Senate Chambers or his house. We shall however not give the award to anybody but the senator due to the “seriousness of his offense”
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