What is a Notice of Meeting?
A notice is sent to shareholders of a company or the directors of the company, stating the date, time and venue of shareholders meeting or board of directors meeting. A notice of meeting must be effected or...
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How to change company directors
Directors are the alter egos or governors of the company who are appointed by the shareholders of the company and can be removed by the shareholders of the company. The directors manage the companies for the...
Duties of a director
A director is a person who is duly appointed by the company to direct and manage the affairs of the company by making and implementing polices to promote the success of the company. The position of a...
Extraordinary General Meeting (EGM)
An extraordinary meeting is a meeting of members of the company that is convened when an important resolution is to be passed and an AGM cannot be called because it is not yet time for one, or it had...
Determining quorum for company meetings
Quorum is the minimum number of members necessary to be present at a meeting, to yconduct the affairs of that meeting. For a company, unless the articles of association provide otherwise, no business can be...
What is quorum?
Quorum is the minimum number of members necessary to be present at a meeting, to conduct the affairs of a particular group of people. For a board of directors to transact their business, unless the articles...
Removal of directors
Notwithstanding anything in the company’s articles or in any agreement between the company and a director, a company can remove a director at any time. To remove a director, or to appoint another director in...
Appointment of directors
Companies are mandated by the Companies and Allied Matters Act (CAMA) to have at least 2 directors. Any company whose number of directors falls below two, shall within one month of its so falling appoint new...
Who is a director?
Directors are persons duly appointed by the company to direct and manage the business of the company. Directors can be either executive or non-executive. Executive directors – are employed by shareholders...
Transmission of shares
Transmission of shares occurs by operation of law i.e when a shareholder dies or becomes bankrupt or mentally unstable and his share title is transferred. Procedure for transmission of shares; The Personal...
8 steps on getting your business registered
Have two proposed unique business names Do a name availability search on CAC website services.cac.gov.ng and reserve a name. Note that the reservation expires after 60days so, registration must be completed...
What is a power of Attorney?
A power of attorney (POA) is a legal document, giving a person, who is called the agent, authority to act on behalf of the other person (the principal)’s behalf. A POA is of different types; A limited POA is...
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