Legal Question in Business Law in Nigeria

board of directors authourization to 3rd prty

Our company are private limited liability company, run by family joint investement and incorperated registerd in Nigeria,with ten employees. All our board of directors, which are member of our family corperation agreed to run the company,s bank account given a consensus agreement authourization to a perticular name, or person who will manege and operate our business financail service. Our board of directors agreed to sign a letter of authorization to allow single name who will run the company,s account in a bank in nigeria. Because, some of us are not together in the country, therefore we on taken decision on our own risk agreed to authourize who will maneged our company,s bank account under his individaul name pending to when otherwise changrs are stated are . Can we operate our company account by an individaul name who who we genaraly trusted to handle our company,s account in Nigeria. We want to sign a unianumous among all the directors agreement to authourize whose name our account finacail operation should taken care of under one agreement.


Asked on 9/28/06, 1:07 pm

1 Answer from Attorneys
Okey Onyekanma Inns Law Firm

Re: board of directors authourization to 3rd prty

Yes, The board of directors can authorize an individual to manage the account. A bank form by the bankers you intend to open the account with would specify for a company resolution to authorise such. This can be signed by two directors and sent to the bank along with other account opening documents.

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Answered on 9/29/06, 3:25 am


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