CAMA: You must submit details of your finances, no going back – Nigerian Govt declares

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The Corporate Affairs Commission (CAC) has said that those wailing over the new Company and Allied Matters Act (CAMA) should better stop because there is no going back.

CAC said the new act has come to stay in the country despite the public outcry that has greeted it.

The Commission said it was only waiting for the legislature to gazette it for immediate implementation of the law.

The CAMA bill was recently signed into law by President Muhammadu Buhari, and was included in his list of achievements for the last one year.

The CAC Registrar-General, Alhaji Garba Abubakar, while speaking to Commerce Correspondents Association of Nigeria (CICAN) in Abuja yesterday wondered why the act was being opposed by religious bodies, especially the churches.

“They must henceforth subject their finances and expenditures for proper auditing, and copies sent to us at the CAC,” he said.

He explained further, “The new legal framework applies to all organizations registered with us; be it a religious organisation, NGO or CSO.

“Remember that they also have constitutions guiding them. The criteria to be a trustee of registered organisations are clearly spelt out in the laws establishing them.

“How is it that a registered member who qualifies to be a trustee in an organisation would not want government to know how the organisation is run? What are the responsibilities of the trustees?

“What are the responsibilities of the governing council or the board? How do you manage the affairs of the organisation? How do you use or expend the income and properties of the organisation? How do you appoint members of the governing board? These are the issues the new CAMA has come to address.”

Recall that the Christians Association of Nigeria (CAN), had recently described CAMA as satanic, demanding that the President halts the implementation of “the obnoxious and ungodly law until religious institutions are exempted from it.”

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PROFILE OF IKECHUKWU ANYANWU Ikechukwu Anyanwu is an Imo State born Nigerian. An Author, Public Speaker, Humanitarian, Blogger, Media Guru and Start-up Coach. He has inspired millions through Arise Africa Network Platform He Is Into Education, Media, Entertainment, Showbiz and Hospitality Industry. Having calved a nitche for himself as a leadership expert, human capital development and management consultant. He is currently the Chairman, Online Media practitioners Association of Nigeria, Imo State Chapter. Ceo Arise Africa Magazine, Founder Arise Africa Network – a non-profit organization. Face of Arise Africa, Managing Consultant GCFN Consult. Member, Imo State Bloggers Association. Ag National President, Association of Pageant CEO’s of Nigeria Human Resource Specialist and Leadership Coach with astute impact on many seeking to maximize their skills, intellectuals and innate potentials He has a track record of reproducing leaders and helping them to gain dominance within their nitch. Mr Anyanwu after a rich career that spanned for 18 years having worked as Human Resources Manger, Outlet Manager Rennys Foods Limited from 2004 – 2019, Management Consultant for various Quick Service Restaurants in Abuja, Enugu, Rivers State, Abia, Ebonyi, Kogi and Imo State is now focusing on helping young people to discover, develop their talents. He has built lots of platforms for young people of Africa to express their talents. He is passionate about writing, consulting, coaching and training. He blogs regularly via www.ariseafrika.com and has a thriving social media followership. He is a graduate of Sociology/Anthropology, Imo State University whose passion is to impart knowledge by educating, equipping and empowering young minds for the future. He is an alumni of Living Word Training Center He is also the West African Representative of All African Media Networks He is married to Mrs Carol Anyanwu and blessed with 3 sons.

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