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.
E-Business
UK Orders Apple to Create Backdoor for Encrypted iCloud Data

United Kingdom has issued a “technical capability notice” to Apple, mandating that the company create a backdoor to access users’ encrypted iCloud data.
This directive, issued under the Investigatory Powers Act of 2016, requires Apple to provide British security officials with the means to retrieve all content uploaded to iCloud by any user worldwide.
Apple’s Advanced Data Protection (ADP) feature, introduced in 2022, offers end-to-end encryption for iCloud data, ensuring that only users can access their information.
The UK’s demand challenges this security measure, potentially compelling Apple to either comply by creating the backdoor or withdraw the ADP feature from the UK market.
Compliance could set a precedent, leading other governments to request similar access, thereby raising global privacy concerns.
The UK Home Office has declined to confirm or deny the existence of such notices, stating, “We do not comment on operational matters, including, for example, confirming or denying the existence of any such notices.”
This development underscores the ongoing tension between governmental surveillance efforts and technology companies’ commitments to user privacy.
E-Business
Oracle Adds AI Pricing Features to Financial Software

Oracle on Thursday added another set of artificial intelligence (AI) tools to NetSuite, one of its corporate finance software offerings, including some that might make it faster for consumers to get a price quote on purchases like custom bicycles.
Oracle has taken a different tack with AI than rivals such as Microsoft. Rather than racing toward general purpose virtual assistants, Oracle has decided to add targeted features that speed common-but-tedious tasks like entering a brief write-up of how a sales meeting went into a corporate records system.
Another such task that is common in the business world is giving a customer a price quote on a complicated purchase that might have a lot of options, when a sales professional would need to sift through materials to come up with a price.
NetSuite on Thursday announced a feature to compile such a quote via conversation with a chatbot asking what the customer wants, which can either be used by sales professionals behind the scenes to speed up their work, or directly by consumers in the case of e-commerce businesses.
“When you buy something like a bicycle, you have to configure it – figure out what parts you want and which parts work together. We all do it when we buy our cars on the web these days,” Evan Goldberg, executive vice president of Oracle NetSuite, said.
“If you can configure (products) for customers more easily, you can do more deals in a day, or each deal costs less.”
To power those features, Oracle has decided to skip the costly race to develop huge AI models and instead works with partners such as Canadian startup Cohere.
Goldberg said that Oracle’s recent agreement to build massive data centers with ChatGPT creator OpenAI could lead to working with it as well, though the two firms have made no formal announcements.
“I think you could safely say that there’s a possibility that OpenAI will be part of this,” Goldberg told Reuters. “We are eager to work with OpenAI.”
E-Business
IBM Exits Nigeria and Ghana, Transfers Operations to MIBB

IBM, the American multinational technology giant, has reportedly announced plans to exit Nigeria, Ghana, and other key African markets, transferring its regional operations to MIBB, a subsidiary of the Midis Group.
The move, which according to TechCabal was revealed in a statement by the company, effective April 1 2025, is part of a new operating model IBM is adopting across select African countries.
Under this arrangement, MIBB will take over IBM’s local operations, customer support, and relationships while marketing and selling IBM products and services across 36 African nations.
“MIBB will market and sell IBM products and services in 36 African countries, thereby giving MIBB’s sales network direct access to IBM products, services, and support, further boosting innovation and growth in the region,” IBM stated.
IBM has been a key player in Africa’s tech industry for decades, providing critical infrastructure for banking, telecom, oil and gas, and government services.
However, its planned exit follows a trend of multinational corporations leaving Nigeria.
In December 2024, Swiss cement giant Holcim announced its departure from Nigeria, selling its 83% stake in Lafarge to a Chinese firm.
Similarly, South African grocery retailer Pick n Pay disclosed plans in October 2024 to exit Nigeria by selling its 51% stake in a joint venture.
IBM has yet to respond to media inquiries regarding the specifics of its transition strategy and reasons for the exit.
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