WHAT IS THE AGE REQUIREMENT FOR A DIRECTOR IN NIGERIA?

WHAT IS THE AGE REQUIREMENT FOR A DIRECTOR IN NIGERIA?

September 24, 2018

The minimum age for a director is 18 years, as a minor cannot be a director in Nigeria unless two adults are existing directors in that company.

The age limit for a proposed or an already existing director however, depends on whether your company is a private or public companies. For private companies, a person that is more than 70 years of age cannot be a director. For a public company, however, where a person above 70 years is to be appointed as a director, a special notice of the resolution appointing or approving such appointment will be given to shareholders, stating the age of the said director. Where a sitting director exceeds 70 years old while on the board, he has a duty to disclose the fact to members of the company in general meeting, failure of which he is guilty of an offence.

 

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The information in this blog post (“post”) is provided for general informational purposes only, no information contained in this post should be construed as legal advice, nor is it intended to be a substitute for legal counsel on any subject matter. No reader of this post should act or refrain from acting on the basis of any information included in, or accessible through this post without seeking the appropriate legal or professional advice from the particular facts and circumstances at issue from a lawyer.This post is protected by intellectual property law and regulations. It may however be shared using appropriate sharing tools provided that our authorship is always acknowledged and this Disclaimer Notice attached.

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