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Board Resolution For Power Of Attorney for Nigeria

Board Resolution For Power Of Attorney Template for Nigeria

A Board Resolution for Power of Attorney is a formal document issued under Nigerian law that evidences the board of directors' decision to delegate specific powers to an appointed attorney. The document, governed by the Companies and Allied Matters Act 2020 and the Powers of Attorney Act 1935, outlines the scope of authority granted, the duration of the power, and any limitations or conditions attached to the delegation. It serves as proof of the attorney's authority to act on behalf of the company in specified matters, whether for general business operations or specific transactions.

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Board Resolution For Power Of Attorney

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What is a Board Resolution For Power Of Attorney?

A Board Resolution For Power of Attorney is a crucial corporate governance document used when a company needs to formally delegate authority to specific individuals to act on its behalf. This document is particularly important in the Nigerian business context, where it must comply with the Companies and Allied Matters Act 2020 and the Powers of Attorney Act 1935. It is typically used when companies need to authorize representatives to handle specific business transactions, sign documents, manage bank accounts, or represent the company in legal proceedings. The resolution must be properly executed during a valid board meeting, documented in the company's records, and may need to be filed with relevant authorities such as the Corporate Affairs Commission. The document includes specific details about the powers granted, their scope, duration, and any limitations, making it a vital tool for business operations while maintaining proper corporate governance.

What sections should be included in a Board Resolution For Power Of Attorney?

1. Title and Date: Formal title of the resolution and date of the board meeting

2. Company Details: Full legal name and registration details of the company passing the resolution

3. Meeting Details: Information about the board meeting including quorum confirmation and attendees

4. Recitals: Background information explaining the need for the power of attorney

5. Attorney Appointment: Details of the person(s) being appointed as attorney(s) including full legal name and address

6. Scope of Authority: Detailed description of the powers and authority being granted to the attorney

7. Duration: Period for which the power of attorney will remain valid

8. Execution Requirements: Specifications for how the power of attorney should be executed

9. Certification: Board secretary or director's certification of the resolution

10. Signatures: Space for required signatures of authorized board members

What sections are optional to include in a Board Resolution For Power Of Attorney?

1. Revocation Clause: Include when there's a need to specify conditions under which the power of attorney can be revoked

2. Substitution Powers: Include when the attorney needs the authority to delegate powers to others

3. Territorial Limitations: Include when the power of attorney is limited to specific geographical areas

4. Reporting Requirements: Include when the attorney must report actions taken under the power of attorney

5. Indemnification: Include when specific indemnification provisions for the attorney are required

6. Multiple Attorneys Clause: Include when appointing multiple attorneys and specifying whether they act jointly or severally

What schedules should be included in a Board Resolution For Power Of Attorney?

1. Schedule A - Specific Powers: Detailed list of specific powers and authorities granted to the attorney

2. Schedule B - Assets List: List of specific assets or properties covered by the power of attorney, if applicable

3. Schedule C - Board Meeting Minutes: Extract or copy of the relevant board meeting minutes

4. Appendix 1 - Identity Documents: Copies of identification documents of the appointed attorney(s)

5. Appendix 2 - Company Documents: Relevant company documents including certificate of incorporation and board register

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Nigeria

Publisher

Ƶ

Document Type

Board Resolution

Cost

Free to use
Relevant legal definitions



































Clauses






























Relevant Industries

Banking and Finance

Real Estate

Manufacturing

Oil and Gas

Telecommunications

Construction

Import/Export

Healthcare

Mining

Retail

Technology

Agriculture

Transportation and Logistics

Professional Services

Relevant Teams

Legal

Corporate Secretariat

Compliance

Risk Management

Corporate Affairs

Administrative

Board Secretariat

Governance

Executive Office

Relevant Roles

Chief Executive Officer

Managing Director

Company Secretary

Legal Counsel

Corporate Governance Officer

Board Director

Chief Financial Officer

Chief Operating Officer

Compliance Officer

Risk Manager

Commercial Director

General Manager

Corporate Affairs Manager

Administrative Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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