HOW TO CHANGE THE DIRECTORS OF A COMPANY IN NIGERIA

CHANGING A DIRECTOR(S) OF A COMPANY IN NIGERIA

Friends can pull their resources together to incorporate a company. What then happens when the friendship goes sour? Or when one of the directors says hey! I don’t want to be a part this company anymore and I don’t want to be a director of this company anymore? Do you as the remaining director close the business or do you just cancel the name of the unwanted director from the list of directors? NO There are laid down procedures on how to change a director or directors of a company. Below are the steps to follow when you want to change a director or directors of a company. 1. Pay the annual return of the company up to date.(if the company have not been paying her annual returns) 2. Pass a Board resolution appointing a secretary, File company secretary together with an acceptance letter signed by the appointed secretary if the company does not have a secretary or if the company was incorporated before March 2017. 3. Pass a Board resolution to be signed by the two Directors or a Director and secretary stating that the company wishes to change her director or directors and the names of those she wish to replace with the names of those coming in. 4. Prepare a consent letter to be signed by the outgoing director(s) and an acceptance letter to be signed by the incoming director(s) 5. Re-allot the shares of the outgoing director(s) if he or they were shareholders. 6. Get the incoming director(s) means of identification, photocopy of CAC form 2 & 7, company certificate of incorporation and photocopy of the company secretary form. 7. Get an accountant or an auditor to prepare statement of affairs of the company next step is to;

1. log on to Corporate Affairs Commission site and click on post incorporation.
2. Select the activity you want to engage in.
3. Fill in the details.
4. upload the necessary document
5. click on “proceed to payment”
6. After the payment click on submit.

Note: once payment is made you cannot effect any change, ensure your application is properly filled and the document properly uploaded.

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