By Dayo Omoogun
The Christian Association of Nigeria (CAN) has appealed to President Muhammadu Buhari to suspend the implementation
of the Companies and Allied Matters Act (CAMA) which he recently signed into law asking that the law be fine-tuned to accommodate and reflect the yearnings of stakeholders as well as conform with the provisions of the 1999 constitution.
The Association was responding to an invitation by the President to discuss the law ostensibly to find ways of resolving the controversy it has generated since it’s enactment.
“We are of the opinion that you should kindly issue the appropriate directives to suspend the implementation of CAMA 2020 and affirm a thorough reappraisal of the legislation that is in correlation with the provisions of the 1999 Constitution of Nigeria (as amended), other extant legal and policy frameworks, the national economy, national security, national interest and the wellbeing of the Nigerian-state”, the letter stated.
The Association’s letter explained that it is unable to honor the invitation as it is yet to get an authentic version of the new law without which it cannot properly articulate its position.
The letter which was signed by the President of CAN, Dr. Samson Ayokunle stated:
“We respectfully acknowledge the invitation extended to us to make an input into the Companies and Allied Matters Act (CAMA), 2020 following the myriad of objections that attended the enactment of the Act…
“While we sincerely appreciate the courtesy of your invitation, we are however constrained from doing so on the following grounds:
“We are yet to be availed with the authentic version of the voluminous Act, made up of 870 sections besides the sundry and complex schedules and addendum. We consider the Act, as indeed, a complex of statecraft compendium, laden with issues that are grossly inimical to the national interest, security (- peace and stability), and overall wellbeing of the Nigerian-state.
“From the reactions of stakeholders and a cross-section of the Nigerian-state, it is apparent that the Act either did not receive input from the respective various interest groups or failed to accommodate their views, sundry concerns and varying interests of the Nigerian people. Without prejudice to our observations, such a law ought to welcome and accommodate the sundry and varying interests of the Nigerian people.
“Furthermore, we are mindful that comments in the public domain are beginning to indicate that CAMA, 2020 has the potential that can further undermine the faith of stakeholders in the Nigerian-state. The reactions from public officeholders have not helped matters because they are binary in perspective and pander towards a fait accompli.
“The dominant schools of thought in the public domain, hold the view that should stakeholders of the Nigerian-state seek judicial intervention or amendment of the Act by the National Assembly, they shall achieve nothing much, as they consider such, as exercises in futility. We must allay their fears and encourage them to exercise their democratic rights in our participatory democracy; hoping that when citizens approach these state institutions, they shall rise up to the challenge.
“Mr. President, from the foregoing, we are of the opinion that you should kindly issue the appropriate directives to suspend the implementation of CAMA 2020 and affirm a thorough reappraisal of the legislation that is in correlation with the provisions of the 1999 Constitution of Nigeria (as amended), other extant legal and policy frameworks, the national economy, national security, national interest and the wellbeing of the Nigerian-state.
“In order to participate actively in such an exercise, you may wish to kindly furnish us with an official version as assented by you. This will enable us do the due diligence required, please.