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Understanding Debentures Under CAMA 2020: Sections 191–198 Explained

Understanding Debentures Under CAMA 2020: Sections 191–198 Explained By Baha’s Books Visit bahasbooks.com for expert accounting and corporate law insights. The Companies and Allied Matters Act (CAMA) 2020 provides the foundation for how Nigerian companies operate, borrow money, and secure financing. One of the most detailed and important aspects of this law lies in Sections 191 to 198 , which cover debentures — instruments that enable companies to borrow money from investors while offering structured rights and protections in return. These provisions explain how companies can use their property or uncalled capital to raise funds, the legal form and content of debentures, how they must be documented, what happens when they are lost or misused, and the various types of debentures available. Together, they form the financial and legal backbone for corporate borrowing in Nigeria. Let’s unpack each section carefully and see how they work in practice. Section 191 — Creation of De...
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Capital Allowances Under the Nigeria Tax Act, 2025 (First Schedule): A Practical, End-to-End Guide

Capital Allowances Under the Nigeria Tax Act, 2025 (First Schedule): A Practical, End-to-End Guide By Bahas Books | bahasbooks.com Capital allowances are the bridge between your fixed-asset investments and your corporate tax bill. This portion of the Nigeria Tax Act, 2025—drawn from the First Schedule—spells out when and how a company can claim capital allowances, what happens when assets are sold or destroyed, how leases and partnerships are treated, how to apportion values when assets are bundled, and which expenditures never qualify in the first place. Read this as a life-cycle manual: acquisition → use → temporary disuse → replacement → disposal, with rules for special situations along the way. The rule that unlocks relief (Paragraph 6) If, during a basis period for a year of assessment, your company incurs qualifying capital expenditure wholly and exclusively for the purposes of its trade or business, you are entitled to a capital allowance for each year the asset is used i...
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Understanding Capital Allowance Under the Nigeria Tax Act, 2025: What Every Business Should Know

Understanding Capital Allowance Under the Nigeria Tax Act, 2025: What Every Business Should Know By Baha’s Books | www.bahasbooks.com The First Schedule of the Nigeria Tax Act, 2025 delves into one of the most practical and impactful areas of taxation for businesses — Capital Allowance . This part of the law establishes the framework for how companies can recover the cost of their fixed assets over time, by deducting their value against taxable profits. It is not just an accounting procedure; it’s a fiscal policy tool designed to reward investment, promote productivity, and sustain economic growth through responsible asset management. At its core, capital allowance is the government’s way of recognizing that assets used for generating income—such as machines, buildings, vehicles, and software—wear out or lose value over time. Instead of allowing companies to deduct the entire cost in one year, the law spreads that deduction across several years. This systematic write-off mirrors ...
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