The Corporate Affairs Commission has now commenced the implementation of the following:
- That the concept of corporate representative is alien to CAMA and will no longer be accepted. Consequently, any written resolution signed on behalf of either a Nigerian or foreign Company would be accepted by the Commission notwithstanding the fact that the signature of the shareholder representative is not in our record and the document need not be under the common seal of the Company.
- That the practice of including corporate bodies as directors in new incorporation documents and Forms CAC 7A describing them as directors will no longer be allowed. Where an individual is appointed to represent a corporate body on the board of a company, the name of the individual must appear first followed by an indication of the Company the individual is representing e.g. Kunle Peters (Representing AYZ Nigeria Limited). Read here