The Companies and Allied Matters Act (Cama) remains at the core of the regulation of business formations through which local and foreign direct investments (FDI) flow into the Nigerian economy. Despite its importance, Cama has proven inadequate, as it is only a re-enactment of the1968 Companies Act with further insignificant amendments in 1990 and 2004. These amendments did not reflect the ever dynamic and innovative global business environment Cama sought to regulate, justifying the need for a complete overhaul of the Act in the face of Nigeria's current commercial realities.
