ADMINISTRATION OF COMPANIES BY COURT-APPOINTED ADMINISTRATOR UNDER THE COMPANIES AND ALLIED MATTERS ACT, 2020
), P. A. N Ahiarammunnah(2), Asma’u Sulaiman Muhammad(3), Emmanuei Oluwafemi Olowononi(4),
(1) Nigerian Law School, Port-Harcourt Campus, Rivers State
(2) Council of Legal Education, Nigerian Law School, Kano Campus, Kano State
(3) Nigerian Law School, Kano Campus, Baguada, Kano State
(4) Nigerian Law School, Abuja Headquarters, Abuja
Corresponding Author
Abstract
The Companies and Allied Matters Act 2020 (CAMA 2020) introduced administration as Nigeria’s principal corporate rescue mechanism. This article provides a detailed doctrinal analysis of administration by court-appointed administrator, focusing on the statutory thresholds under sections 444 and 449, the scope of the moratorium in section 480, the displacement of directors under section 501, and the accountability structure under sections 500 and 511. It situates Nigeria’s regime within comparative United Kingdom insolvency jurisprudence under the Insolvency Act 1986 and argues that the development of rescue-oriented judicial interpretation by the Federal High Court will determine whether administration becomes a transformative restructuring tool or remains under-utilised. The article concludes that disciplined evidentiary standards, purposive statutory interpretation and doctrinal clarity are essential to embedding rescue culture in Nigeria’s insolvency system.
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