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Board Resolution For Signing Authority for Nigeria

Board Resolution For Signing Authority Template for Nigeria

A formal corporate document issued under Nigerian law that records the board of directors' resolution to grant specific individuals the authority to sign documents and conduct transactions on behalf of the company. The resolution complies with the Companies and Allied Matters Act (CAMA) 2020 and specifies the scope of authority, any limitations on signing powers, and the combinations of signatures required for different types of transactions. This document is essential for establishing clear parameters for corporate signing authority and is typically required by banks, government agencies, and other institutions dealing with the company.

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Board Resolution For Signing Authority

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What is a Board Resolution For Signing Authority?

A Board Resolution For Signing Authority is a crucial corporate governance document used in Nigerian businesses to formally delegate signing powers to specific individuals within the organization. This document becomes necessary when a company needs to authorize officers or employees to execute documents, enter into contracts, operate bank accounts, or conduct other transactions on behalf of the company. Under Nigerian law, particularly the Companies and Allied Matters Act (CAMA) 2020, such delegations must be properly documented through board resolutions. The resolution typically specifies who can sign what types of documents, any monetary limits, required signature combinations, and the scope of authority. It's commonly required by banks, regulatory bodies, and business partners as evidence of proper authorization and is an essential tool for ensuring smooth business operations while maintaining proper corporate governance and internal controls.

What sections should be included in a Board Resolution For Signing Authority?

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

2. Company Details: Full legal name of the company, registration number, and registered address

3. Preamble: Statement confirming the meeting was properly convened and quorum was present

4. Background: Brief context explaining the need for the signing authority resolution

5. Attendance: List of directors present and absent at the meeting

6. Resolution Statement: The main resolution text using the words 'RESOLVED THAT'

7. Authorized Signatories: Clear identification of individuals being granted signing authority

8. Scope of Authority: Detailed description of the types of documents and transactions covered

9. Signing Requirements: Specification of signing combinations and any monetary limits

10. Certification: Statement certifying the resolution as true and accurate

11. Signatures: Space for Chairman and Company Secretary signatures

What sections are optional to include in a Board Resolution For Signing Authority?

1. Supersession Clause: Section revoking previous signing authorities, used when replacing existing authorizations

2. Duration: Specific time period for the authority, if not indefinite

3. Digital Signature Authorization: Include when authorizing use of electronic or digital signatures

4. Geographic Limitations: Used when authority is limited to specific regions or jurisdictions

5. Special Conditions: Any specific conditions or restrictions on the exercise of authority

6. Reporting Requirements: When specific reporting of signed documents is required to the board

What schedules should be included in a Board Resolution For Signing Authority?

1. Schedule A - Authorized Signatory Details: Detailed information about each authorized signatory including position and specimen signature

2. Schedule B - Transaction Limits: Table of monetary limits and required signature combinations for different transaction types

3. Schedule C - Document Categories: List of specific document types covered by the authorization

4. Appendix 1 - Specimen Signatures: Original specimen signatures of all authorized signatories

5. Appendix 2 - Corporate Seal: Impression of the corporate seal if required for certain documents

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

Manufacturing

Oil and Gas

Telecommunications

Real Estate

Construction

Retail

Healthcare

Technology

Transportation and Logistics

Agriculture

Mining

Education

Professional Services

Energy

Relevant Teams

Legal

Finance

Corporate Secretariat

Compliance

Risk Management

Treasury

Corporate Governance

Executive Management

Board Secretariat

Administrative Services

Relevant Roles

Chief Executive Officer

Managing Director

Executive Director

Chief Financial Officer

Company Secretary

Finance Director

General Manager

Head of Legal

Chief Operating Officer

Regional Manager

Branch Manager

Treasury Manager

Corporate Services Manager

Legal Counsel

Board Chairman

Non-Executive Director

Chief Risk Officer

Compliance Officer

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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