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Trustee Declaration Form for Nigeria

Trustee Declaration Form Template for Nigeria

A Trustee Declaration Form is a formal legal document used in Nigeria to establish and document a trustee's acceptance of their appointment and responsibilities under Nigerian law. The document serves as an official record of the trustee's commitment to fulfill their fiduciary duties in accordance with the Nigerian Trustees Act and other relevant legislation. It includes detailed declarations regarding the trustee's eligibility, understanding of responsibilities, and compliance commitments, while also incorporating necessary provisions for proper trust administration under Nigerian jurisdiction. The document plays a crucial role in ensuring transparency and accountability in trust relationships while providing evidence of the trustee's formal acceptance of their role.

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What is a Trustee Declaration Form?

The Trustee Declaration Form is a vital document in Nigerian trust law that formalizes the appointment and acceptance of a trustee's responsibilities. This document is required whenever a new trustee is appointed, whether for private trusts, charitable trusts, or corporate trust arrangements. The form serves multiple purposes: it provides evidence of the trustee's formal acceptance, confirms their eligibility under Nigerian law, and documents their understanding of fiduciary duties. The document must comply with the Nigerian Trustees Act and related legislation, including the Companies and Allied Matters Act (CAMA) 2020 when corporate trustees are involved. It's particularly important in the Nigerian context where trust law combines both common law principles and local statutory requirements. The Trustee Declaration Form typically includes comprehensive declarations about the trustee's capacity, independence, and commitment to proper trust administration.

What sections should be included in a Trustee Declaration Form?

1. Declarant Details: Full legal name, address, and contact information of the person making the declaration to act as trustee

2. Trust Identification: Details of the trust including its name, date of establishment, and type of trust

3. Declaration of Acceptance: Formal statement accepting the appointment as trustee and willingness to act in accordance with the trust deed

4. Eligibility Confirmation: Confirmation that the trustee meets all legal requirements and is not disqualified under Nigerian law

5. Acknowledgment of Duties: Statement acknowledging understanding of trustee duties and responsibilities under Nigerian law

6. Compliance Declaration: Declaration of commitment to comply with relevant laws, regulations, and trust instrument

7. Powers Recognition: Acknowledgment of the powers granted to the trustee under the trust deed and law

8. Execution Block: Space for trustee's signature, date, and witness details

What sections are optional to include in a Trustee Declaration Form?

1. Co-Trustee Acknowledgment: Required when multiple trustees are appointed, acknowledging joint responsibilities and relationships

2. Professional Qualifications: Needed for professional or corporate trustees, listing relevant qualifications and licenses

3. Conflict of Interest Disclosure: Optional section for declaring any potential conflicts of interest

4. Remuneration Agreement: Required when the trustee will receive compensation for their services

5. Resignation Procedure: Optional section detailing the process for future resignation if needed

6. Indemnification Clause: Optional protection clause for trustees acting in good faith

What schedules should be included in a Trustee Declaration Form?

1. Schedule A - Trust Property: Detailed inventory of trust assets and property being placed under trustee management

2. Schedule B - Beneficiary Information: List of beneficiaries and their respective interests in the trust

3. Schedule C - Trustee Powers: Comprehensive list of specific powers granted to the trustee

4. Appendix 1 - Identity Documents: Copies of trustee's identification documents and relevant certificates

5. Appendix 2 - Professional Credentials: Copies of relevant professional qualifications and licenses (if applicable)

6. Appendix 3 - Trust Deed Reference: Copy or extract of the relevant trust deed sections pertaining to trustee appointment

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

Declaration Form

Cost

Free to use
Relevant legal definitions






























Clauses
























Relevant Industries

Financial Services

Banking

Estate Planning

Corporate Services

Legal Services

Investment Management

Real Estate

Charitable Organizations

Education (for educational trusts)

Healthcare (for healthcare trusts)

Family Office Services

Wealth Management

Relevant Teams

Legal

Compliance

Risk Management

Trust Administration

Wealth Management

Corporate Secretariat

Fiduciary Services

Client Services

Operations

Document Management

Relevant Roles

Trust Officer

Legal Counsel

Corporate Trustee

Estate Manager

Compliance Officer

Risk Manager

Trust Administrator

Company Secretary

Financial Advisor

Wealth Manager

Trust Operations Manager

Director of Fiduciary Services

Senior Trust Associate

Private Client Manager

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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