Insolvency Practice: CAC Urges BRIPAN to Translate Tools Provided by CAMA 2020 into Measurable Outcomes
Dike Onwuamaeze The Registrar General/Chief Executive Officer, Corporate Affairs Commission (CAC), Mr. Hussaini Ishaq Magaji (SAN), has urged members of Business Recovery and Insolvency Practitioners Association of Nigeria’s (BRIPAN) to
The Registrar General/Chief Executive Officer of the Corporate Affairs Commission, Mr. Hussaini Ishaq Magaji, has urged members of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to turn the legal tools in the Companies and Allied Matters Act 2020 into tangible results. At BRIPAN's International Conference 2026, Magaji highlighted the need to translate the provisions of CAMA 2020 into measurable outcomes, such as more viable businesses saved, jobs preserved, improved recoveries for creditors, enhanced accountability, and increased confidence in the Nigerian economy.
The CAMA 2020 has given Nigeria a robust foundation, but the collective task is to turn these provisions into concrete achievements. The Insolvency Regulations 2022 provide practical effects through accreditation, continuing education, and renewal requirements, which are crucial because insolvency practitioners have extensive powers over distressed businesses, creditor recoveries, employees, and assets.
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