What is the age requirement for a director in Nigeria?

What is the age requirement for a director in Nigeria?

April 01, 2019

hT 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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