Change of Company Director

NGN25,000.00

File Notice of Change of Company Director with CAC

Ensure your company's records are up to date by filing a Notice of Change of Director with the Corporate Affairs Commission (CAC). This official update is essential for corporate governance, regulatory compliance, and business transactions.

Filing Change of Company Director with the CAC.
CAC Fees Included.
Receive the CAC Acknowledgment letter for the Directorship Change Filing.
Receive updated Status Report reflecting new Director change.
Processing Time: 2 to 7 business days turnaround.

NGN25,000.00

Key Features of Changing Company Director

Eligibility: A company director manages affairs, ensures legal compliance, and makes strategic decisions. The minimum age for appointing a director is above the age of 18 years. Must not be insolvent or bankrupt. Must not be fraudulent. A director cannot be a person of unsound mind.
Initial Directors: First Directors are appointed during the incorporation of the company by the subscribers of the MEMART (Memorandum and Articles of Association).
Directors can be appointed, removed, or changed based on the company’s needs and governance structure. Changes to the company’s directorship must be filed with the CAC and recorded in the company’s public records.
Subsequent Directors: The power to remove and appoint subsequent directors of a company in Nigeria is vested in the members of the company. i.e. shareholders of the company at a general meeting.
In case of a casual vacancy (e.g., death, retirement, resignation, removal), directors can appoint a new director, subject to approval at the next AGM.
Resolution: Shareholders can remove a director through a simple resolution passed at a general meeting. After the removal of a director, the company must file Form CAC 7A with the CAC within 30 days.
Reasons for Change of a Company Director: Some of the instances that could call for the change of a director in a Nigerian company are: Voluntary Resignation of a director, Replacement due to the resolution of the shareholders, Death of a director, Uncultured behavior of a director, Transfer of ownership, Retirement, An addition.

Requirements for Filing Change of Company Director

Resolution Document: A signed resolution appointing or removing director(s). Must be signed by a director or company secretary and filed with the CAC within 30 days.
Reason for Director Change (if removing a director): Select the reason for removal for at least one director. Reasons include Removal, Resignature, and Tenure Expiration.
Details of Newly Appointed Directors: Provide personal details (name, DOB, gender, nationality), contact details (phone, email, occupation), service address, residential address (if different), and one form of ID (passport, ID card, driver's license, etc.).
Non-Nigerian directors who are resident in Nigeria must provide a valid residence permit. The New Director must also give consent to be appointed.
Annual Returns: Ensure that all annual returns are fully paid and up to date before applying for the change in Directorship.

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Benefits of Filing Change of Company Director

Legal Compliance: Filing the change ensures that the company remains compliant with the Companies and Allied Matters Act (CAMA). It avoids penalties, fines, or sanctions that may arise from failing to update the CAC about changes in directorship.
Accurate Public Records: Updating the CAC with changes in directorship ensures that the company’s public records are accurate and up-to-date.
Maintains Corporate Governance: Helps in maintaining effective leadership by appointing directors who align with the company’s strategic vision and goals.
Prevents Fraud and Misrepresentation: Updating director information reduces the risk of fraud or misrepresentation by unauthorized individuals claiming to act on behalf of the company.

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File Notice of Change of Company Director in Nigeria

Here's how SplashDict's CAC-accredited Chartered Secretaries can assist you:

Application Submission: We handle the filing of your Notice of Change of Company Director with the CAC.
Documentation: We handle all Filing documents including board resolutions.
Transparent Pricing: CAC filing fees are included with no hidden charges.
Quick Turnaround: Receive CAC Acknowledgment Letter of Director Change and Status Report within 2 to 10 business days.
Continuous Support: We assist with future compliance and statutory needs.