The Federal High Court (FHC) has ruled that private companies incorporated before CAMA 2020 can have one shareholder
On 30 July 2024, the Federal High Court (FHC), Abuja Division decided that the provisions of Section 18(2) of the Companies and Allied Matters Act (CAMA) 2020 apply to all private companies (Ltd) in Nigeria, including those incorporated before CAMA 2020.
The decision was handed down in the case of Primetech Design and Engineering Nigeria Limited & Julius Berger Nigeria Plc v. Corporate Affairs Commission.
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