On July 30, 2024, the Federal High Court in Abuja ruled that section 18(2) of CAMA 2020, which allows private companies to have a single shareholder, applies to all private companies, including those incorporated under the repealed CAMA 1990.
This notable decision appears to put to rest the loggerhead between the Corporate Affairs Commission (CAC) and pre-CAMA 2020 entities seeking to transition to single shareholding, ensuring uniformity and fairness across all private companies.
Read more about this significant development and its implications in our latest newsletter.
