Category: Nigeria


  • Section 392 CAMA 2020 Section 392 Companies and Allied Matters Act is about Shareholders’ right to obtain copies of financial statements. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) Any member of a company, whether or not entitled to have copies of the company’s financial statements sent to…

  • Section 391 CAMA 2020 Section 391 Companies and Allied Matters Act is about Penalty for laying or delivering defective financial statements. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) If any financial statements of a company (other than its group financial statement) of which a copy is laid…

  • Section 390 CAMA 2020 Section 390 Companies and Allied Matters Act is about Default order in case of non-compliance. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) If— (a) in respect of a year, any of the requirements of section 388 (1) and(3) of this Act has not…

  • Section 389 CAMA 2020 Section 389 Companies and Allied Matters Act is about Penalty for non-compliance with section 388. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) If in a year any of the requirements of section 388 (1) or (3)are not complied with by any company, every…

  • Section 388 CAMA 2020 Section 388 Companies and Allied Matters Act is about Directors’ duty to lay and deliver financial statements. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) In respect of each year, the directors shall, at a date not later than 18 months after incorporation of…

  • Section 387 CAMA 2020 Section 387 Companies and Allied Matters Act is about Persons entitled to receive financial statements as of right. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) In the case of every company, a copy of the company’sfinancial statements for the year shall, at least…

  • Section 386 CAMA 2020 Section 386 Companies and Allied Matters Act is about Signing of balance sheet and documents to be annexed thereto. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) A company’s balance sheet and every copy of it which is laidbefore the company in general meeting…

  • Section 385 CAMA 2020 Section 385 Companies and Allied Matters Act is about Directors’ report. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) In the case of every company, there shall be prepared inrespect of each year, a report by the directors— (a) containing a fair view of…

  • Section 384 CAMA 2020 Section 384 Companies and Allied Matters Act is about Disclosure of loans to officers of the company and statements of amounts outstanding.Third Schedule. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) The group financial statements of a holding company for a year shall comply…

  • Section 383 CAMA 2020 Section 383 Companies and Allied Matters Act is about Disclosure of loans in favour of directors and connected persons.Third Schedule. It is under Chapter 14 (Financial statements, audit and accounting records) of the Act. (1) The group financial statements of a holding company for a year shall comply with Part I…