Businesses in the country are encouraged by the Corporate Affairs Commission to utilize its Administrative Proceedings Committee for resolving corporate disputes.
The CAC, in a statement released through its official channels, urged businesses, clubs, associations, and NGOs to leverage the APC for settling disputes without prolonged legal battles.
The Administrative Proceedings Committee, a provision of CAMA 2020, aims to facilitate business operations and ensure sustainability for registered entities.
The APC provides a platform for individuals or organizations with complaints against a registered entity to seek resolution. It handles non-criminal disputes and can recommend prosecution for criminal matters.
Decisions made by the APC, upon confirmation by the CAC board, become official positions of the Commission.
If dissatisfied with the APC’s decision, aggrieved parties have the option to appeal at the Federal High Court, the appellate jurisdiction for such cases.
Business owners and organizations are advised to embrace this alternative dispute resolution mechanism instead of engaging in protracted legal battles that may impede economic progress.
Stakeholders are encouraged to make use of this provision to amicably settle disputes and avoid litigation that could disrupt business operations. The introduction of the APC is in line with the government’s efforts to improve the ease of doing business, reduce bureaucracy, and create a favorable business environment in Nigeria.