Fidelity bank banner Bayelsa State banner
Passage of CAMA by Senate a lifeline to small businesses: LCCI boss

By Mayowa Okekale, Abuja on 25/05/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 334

•Senate plenary
•Senate plenary

President of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Paul Ruwase, has lauded the passage of the Companies and Allied Matters (CAMA) Act amendment Bill by the Senate, and said the development will greatly boost and increase the viability of small businesses in the country.

Ruwase gave the commendation when he led other executive members of the Chamber on a courtesy visit to the President of the Senate, on Thursday.

The LCCI boss noted that the passage of the CAMA amendment Bill is a major step towards enhancing the business environment in the country.

He noted that the Bill, when signed into law, would reduce the burden of reporting obligations for small businesses, reduce time and cost of setting up a company and also facilitate the transition of many informal sector players to the formal sector of the economy.

He said that the amendment is timely in view of present economic realities as the country cannot “afford a static legislation in a dynamic business and economic environment.”

Ruwase further stated that the beauty of a legislation lies in how well it is aligned with contemporary realities and thanked the President of the Senate for the “efforts of the Red Chamber in promoting private sector development and for collaboration.”

“The fact that your Excellency has a private sector background has brought a lot of value to the content and processes of legislation,” he added.

In his remarks, the President of the Senate, Dr. Abubakar Bukola Saraki, thanked the LCCI and its members for their contributions to the nation’s economic growth.

He noted that the 8th Senate has been keen on working with the private sector to improve the nation’s economy and business environment right from its inception in 2015.

He said that the Senate with the collaboration of major players in the private sector had identified a number of critical laws that required urgent review to improve the ease of doing business in the country, most of which have now been passed and signed into law.

“This is a Senate that is very pro-business. We believe that our role as a government is to create enabling environment that will allow businesses to thrive.

“Even in the area of infrastructure, our focus has been on how we can pass laws to enable private sector participation. With our reforms in railways, ports and road construction and maintenance, we hope that the private sector will play a bigger role with the bills we have passed.

“There are some bills that are still pending like the Investment and Securities bill where there is a major amendment that we hope to pass very soon. We are also looking into the reform of the Stock Exchange to make it more attractive and also in line with global best practice,” he said.

Saraki said the aim of the Senate is to strengthen the economy and be able to provide jobs for the youth through legislation.

Source News Express

Posted 25/05/2018 11:43:36 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

REVEALED: 3 natural ways to get stronger erections, last 25 minutes on bed, and increase manhood size without using drugs. Also, Natural Prostrate Enlargement Remedy.. Get In HERE...

 

You may also like...
Nigeria, Benin Customs meet on implementation of ECOWAS...

Disappointment as customs e-Auction flops

Protesters storm Chevron oil depot in Niger Delta,...

Brand Journalists honour Akinwunmi, Oyeyemi, 8 other industry...

MainOne makes history with ISO 27001 Certified Data...

Suspect dies in prison after 6 years without...

Northern Governors, traditional rulers meet over restructuring

FG won’t tolerate destruction of National Monuments —...

El-Rufai in Anambra to rig governorship election —Peter...

Breaking News: Imo lawmakers finally move to sack...

Anambra 2017: UPP only platform for political redirection,...

2019: NLC plots downfall of bad politicians

 

Latest News Gunmen abduct, gang-rape 5 activists at gunpoint UPDATE: DSS Operatives storm Senator Abaribe's Abuja home 9 Shiite members in police net over killing of policeman Judge’s withdrawal stalls Innoson’s arraignment 2 siblings docked over alleged kidnap of 3-year-old boy Police lied; we didn’t attack anyone — Islamic Movement of Nigeria 14 docked for cultism, arms possession in Ogun Oyo Govt seals 50 companies over non-payment of tax Court refuses to order forfeiture of funds in accounts without BVN Don’t allow politicians to use you, CJN advises judges Buhari salutes Super Eagles over their victory against Iceland, urges them to defeat Argentina Atiku visits PDP Secretariat, reiterate commitment towards a better Nigeria

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (352,645 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (352,243 views) Shameless Genevieve Nnaji exposes breasts in public (280,604 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (230,366 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (209,243 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (209,066 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (182,033 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (164,181 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (154,046 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (148,818 views) Lagos plane crash: Journalist releases victims’ names (144,019 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (135,801 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (50) Business & Economy (3,263) Business Verdict (44) Columnists (871) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (505) Features (607) Global Business Monitor (284) International (2,047) Interview (155) Live Commentary (28) Love Matters (124) News (36,411) Opinion (1,005) Pidgin (10) Politics (5,304) Religion (772) Sports (1,557) Stock Watch (30) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Argentina vs Croatia Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement