A Summary of the Business Facilitation Act

To much gusto, the Business Facilitation (Miscellaneous Provisions) Act (the BFA) was signed into law on 8 February 2023. The principal objective of the unprecedented Act is to eliminate administrative bottlenecks and promote the ease of doing business in Nigeria.

In eliminating administrative bottlenecks, the BFA introduces certain mandatory requirements for ministries, departments, and agencies. In promoting the ease of doing business, the BFA amends twenty-one (21) corporate legislations, to foster flexibility, transparency, and collaboration in Nigeria’s business environment.

In this publication, we take a cursory look at the BFA provisions; we summarise the main provisions and the many amendments. We hope you find it useful.

LEAVE A REPLY

Please enter your comment!
Please enter your name here