The most important piece of legislation governing business and commercial activities in Nigeria currently is...
The most important piece of legislation governing business and commercial activities in Nigeria currently is the
- A) Companies Decree, 1968
- B) Trade Disputes Decree, 1976
- C) Companies and Allied Matters Decree, 1990
- D) Banks and Other Financial Institutions Decree, 1991
Correct Answer: C) Companies and Allied Matters Decree, 1990
Explanation
The correct answer is option C, the Companies and Allied Matters Decree, 1990.This legislation is important because it provides a legal framework for the registration, regulation, and management of companies in Nigeria. It covers various aspects of company operations, such as company formation, corporate governance, mergers and acquisitions, and insolvency. It also protects the interests of shareholders, creditors, and other stakeholders in the business.
The Companies and Allied Matters Decree, 1990, has been instrumental in promoting a favorable business environment in Nigeria, attracting investments, and facilitating economic growth. It ensures transparency, accountability, and fairness in business transactions.
It is important for Commerce students to understand the key legislation that governs business activities in their country, as it affects how businesses operate and the rights and responsibilities of different stakeholders.
To learn more about this, please read the relevant sections of the recommended textbooks.
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