ICSAN Practice Test & Exam Prep | Nigeria

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Which of the following describes a key reform introduced by Section 18(2) of CAMA 2020 regarding company membership in Nigeria?

All companies, public or private, can now be formed by a single person. A private company can now be formed and run by a single member. A minimum of five members is now required to form any company. Foreign individuals can no longer form companies as single members.

Correct Answer:

A private company can now be formed and run by a single member.

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