E-Business
CAC Mulls New Software for CAMA 2020 Implementation— Abubakar
Alhaji Garba Abubakar, registrar-general, Corporate Affairs Commission (CAC), has said that the commission is putting machinery in place to begin full implementation of the Companies and Allied Matters Act (CAMA) 2020 in first week of 2021.
Abubakar said this at the Institute of Directors (IoD) National Stakeholders Forum on the CAMA 2020.
He said that the commission was working on a new software, expected to be ready by middle of December, to accommodate all the changes available in the new Act.
The registrar-general said the software was upgraded to be end to end, with all modules incorporated with interface for document uploads, user names, passwords, among other secure electronic measures.
He, however, said April 1 was take off date for companies that fell under Limited Partnership and Limited Liability Partnership categories.
Abubakar said that the measures were to ensure that the infrastructure required to achieve the objectives of the Act to enhance operational and regulatory functions of business were enhanced.
“The Act has introduced measures to make Nigerian company law better fitted to today‘s realities, improve the business environment and performance across the economy as well as reduce direct compliance costs for businesses. We recognise that the Act is not a perfect piece of legislation, and this is to be expected for a 606-page, 870-section legislation which is arguably the largest single legislation to come out of the annals of the Nigerian legislative chamber. Generally, however, the Act has been acclaimed a major reform landmark in the promotion of enterprise in Nigeria and the reform of her business environment,” he said.
Abubakar said that the CAC had put together the Draft Companies Regulations 2020 (the Regulations) to complement the substantive provisions of the Act.
He said that the regulations were to also possibly address some gaps therein, which are within the competence of regulations to address.
The CAC chief said the regulations were published on the Commission’s website on Nov. 2, 2020 while inviting submissions from the general public.
“Submissions have been received from some groups and individuals The Commission is presently reviewing the submissions for further action(s) as may be necessary for effective regulation.
“We hope that at this point, operators would have conducted (or be conducting) gap-analyses to determine what actions are necessary on their parts to align their operations with the requirements of the Act,” he said.
Prof Koyinsola Ajayi, SAN, managing partner, Olaniwun Ajayi LP, said the Act would in a huge way positively influence business operations due to its provision of consideration of the right of stakeholders.
He lauded the introduction of more orderly and effective procedures for business rescue and resolution of insolvency.
“CAMA used to focus largely on the shareholders but it has now taken in those also important to the survival of a business environment such as directors, employees, customers and others. The provisions on insolvency are far reaching, deeper, and international, as it introduces the concept of administration on insolvency that helps work a company back to liquidity. The Act would also give the court a better grasp when dealing with issues that have to do with business. CAMA has been structured to make financing by companies cheaper and easier,” he said.
Nigerian government, through the Office of the National Security Adviser (ONSA) and the National Information Technology Development Agency (NITDA), has announced a strategic collaboration to strengthen cybersecurity and clean up the nation’s cyberspace.
Recognizing that cybercrime knows no borders, Nigeria also reaffirmed its commitment to fostering stronger global partnerships within the cybersecurity ecosystem.
This announcement was made during a press conference before the inaugural National Cybersecurity Conference, which is scheduled to take place in Abuja from July 9th to 11th, 2025.
Sa’ad Abubakar, national cybersecurity coordinator from the Office of National Security Advisor, said fighting cybercrime must take the whole of society and the whole of the government approach.
According to him, “Apart from the deterrent approach whereby government agencies such as Economic and Financial Crimes Commission (EFCC) arrest individuals, take them to court and prosecute them, the youth can be nurtured into better citizens who can showcase their capacity in better ways and be useful to the country.”
Similarly, Kashifu Abdullahi, director-general, NITDA, also stressed the need for collaborative efforts in fighting cybercrimes.
According to him “Then, in addition to that, we also want to build a stronger global collaboration with the global cyber security ecosystem, because when you look at cybercrime in general, it doesn’t respect the borders.
“Someone can commit a crime from Ghana using a Nigerian ID in the US. So you can look at him physically in a different jurisdiction, pretending to be in another jurisdiction, committing the crime in another jurisdiction.
“So without that kind of synergy and working together, it will be difficult to address these challenges. The third one is challenge. The third one is getting an alternative to cybercrime for our kids in Nigeria. We have this as a major challenge.”
Inuwa further highlighted the upcoming conference’s importance, noting that it would tackle key issues through workshops, discussions on emerging threats, cross-border cybersecurity collaboration strategies, and training programmes.
He also announced that the National Cybersecurity Conference 2025 would feature the Cybersecurity Excellence Awards, recognising top contributions in the field.
The DG extended an invitation to global partners to collaborate with Nigeria in building a safer digital future.
The press conference was attended by notable figures, including Ahmad Sa’ad Abubakar, National Coordinator of, the National Cybersecurity Coordination Centre (NCCC); Hanniel Jafar, Representative of the President, of Cyber Security Experts Association of Nigeria (CSEAN); Ankit Shukla, Managing Director, QNA Marketing Management LLC and members of the press and other stakeholders.
XIAN Telecom has acquired an 8% stake in pan-African e-commerce company Jumia Technologies, citing the platform’s fintech and logistics strengths as key drivers of its backing.
This marks the first major telecom investment in Jumia since MTN Group’s exit in 2020.
AXIAN, a fast-growing telecom and digital services provider with operations across Africa, disclosed the purchase in a Schedule 13D filing with the U.S. Securities and Exchange Commission.
While the financial terms were not disclosed, AXIAN Telecom CEO, Hassan Jaber, described the move as a strategic alignment with Jumia’s growth trajectory and digital ecosystem.
“Jumia’s achievements in digital retail and fintech, particularly through JumiaPay and its logistics network, make it a very attractive investment for us. We believe in Jumia’s potential to promote financial and economic inclusion, which aligns with our core values,” said Jaber.
Once dubbed the “Amazon of Africa,” Jumia became the first African-founded tech company to list on the New York Stock Exchange in 2019.
But years of underperformance, leadership changes, and competitive pressures dented investor confidence.
In October 2020, South Africa’s MTN Group offloaded its 18.9% stake for $138 million, well below the $698 million value it once held post-IPO.
Since then, Jumia has undergone a significant transformation. Under CEO Francis Dufay, appointed in 2022, the company exited low-performing markets like South Africa and Tunisia, cut costs, and doubled down on core markets – Nigeria, Kenya, Egypt, and Morocco.
The firm is now focused on high-growth verticals, including everyday essentials and digital financial services.
Jumia’s regional CEO for East Africa, Vinod Goel, recently revealed plans to scale up international brand offerings and open its logistics network to third-party businesses.
Jaber underscored that AXIAN Telecom’s investment signals renewed confidence in Jumia’s long-term potential.
The telecom firm’s CEO said the company views Jumia as a key player in advancing Africa’s digital economy, aligning with AXIAN’s mission through its fintech and digital infrastructure brands such as Yas and Mixx by Yas.
Abisoye Coker-Odusote, director general, National Identity management commission (NIMC) has said that the commission is set to register 95 percent of Nigerians into the National Identity Database before December 2025.
Abisoye Coker-Odusote,, DG, NIMC
She made this statement at a press briefing to highlight the commissions goal aligns with President Bola Tinubu’s Renewed Hope Agenda, particularly on digital governance and inclusive development.
The mass enrollment drive will be powered by a combination of improved infrastructure, expanded registration centres, and robust public sensitization campaigns.
As of May 2025, NIMC reports over 120 million Nigerians have been enrolled, and about 100 million more would be captured by December.
Telcos Threaten to Disconnect Banks over Misinformation on New USSD Charges
MTN Nigeria Plans N900Bn in Service Upgrade
NDIC Calls for Inputs to IADI Core Principles for Effective Deposit Insurance
Netflix Hikes Subscription Fees Again in Nigeria over “Market Conditions”
DSO: STBMAN Accuses NBC of Contempt, Seeks Presidential Intervention
E-Business2 days agoNIMC Plans to Register 95 Percent Nigerians by December
News2 days agoJAMB Waxes Worriedly over Rising Digital Exam Fraud
Telecom2 days ago9mobile Nigeria Inks Agreement to Roam with MTN
Telecom2 days agoIHS Nigeria Moves to Enhance G4S Secure Solutions Site Patrols and Increase Operational Efficiency with Patrol Vehicles
Telecom2 days agoBanks, Telcos to Start Deducting USSD Charges from Airtime Today
E-Business1 day agoAXIAN Telecom Invests in Jumia Post-MTN Era
- E-Financial1 day ago
UBA Compiles with NCC, to Deduct USSD from Customers’ Accounts
E-Financial2 days agoFitch Upgrades Fidelity Bank’s National Rating to ‘A+(nga)’, Affirms Long-Term IDR at ‘B’