The Corporate Affairs Commission (CAC) has called on businesses in Nigeria to utilize its Administrative Proceedings Committee (APC) for resolving corporate disputes instead of resorting to lengthy and costly court battles.
In a statement issued on Friday, the commission emphasized that the APC offers a faster and more cost-effective alternative for handling disagreements related to company registration, directorship issues, shareholding conflicts, and other corporate governance matters. By opting for this mechanism, businesses can avoid prolonged litigation that often disrupts operations and delays critical decisions.
The CAC noted that the administrative proceedings align with global best practices, ensuring a fair and transparent resolution process. The commission also assured stakeholders that decisions reached through the APC carry legal weight and can be enforced accordingly.
Business owners and legal experts have welcomed the initiative, acknowledging that an efficient dispute resolution system is essential for improving Nigeria’s business environment. Some have called for increased awareness and training to help companies better understand the benefits of using the CAC’s dispute resolution framework.
As the commission continues its efforts to streamline corporate governance in Nigeria, companies are encouraged to leverage the APC for swift and effective resolution of disputes, fostering a more stable and investment-friendly business climate.
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