What Is the Age Requirement for a Director in Nigeria?

When setting up a company in Nigeria, one of the key compliance requirements under the Companies and Allied Matters Act (CAMA) 2020 is the appointment of directors. A common question for business owners and investors is: “What is the minimum age requirement for a company director in Nigeria?”

Minimum Age Requirement

Under Section 271(1) of CAMA 2020, a person must be at least 18 years old to qualify as a director of a company in Nigeria.

This means that anyone below 18 years cannot legally act as a director, sign director-related documents, or be listed at the Corporate Affairs Commission (CAC) as part of the company’s board.

Why There’s an Age Restriction

The restriction ensures that directors are adults capable of entering binding legal obligations on behalf of the company. Directors play critical roles in governance, compliance, and decision-making, so Nigerian company law limits these responsibilities to individuals with full legal capacity.

Can a Minor Own Shares in a Company?

While a person under 18 cannot serve as a director, a minor can own shares in a Nigerian company. However, this is only permitted where there are at least two other adult shareholders in the company. The minor’s shares are typically held in trust until they attain the legal age to exercise full shareholder rights.

Other Key Director Requirements in Nigeria

Besides the age requirement, prospective directors must also meet the following basic criteria:

• Must be of sound mind and capable of managing their affairs.
• Must not be an undischarged bankrupt.
• Must not have been convicted of fraud or dishonesty in connection with company management.
• Foreign nationals may also serve as directors, provided they meet Nigerian immigration and residency requirements.

In conclusion, to qualify as a director in Nigeria, an individual must be 18 years or older and meet the legal and ethical standards set by the Companies and Allied Matters Act (CAMA) 2020.

While minors may hold shares in certain circumstances, only adults can serve as company directors. Ensuring compliance with these requirements is crucial for smooth company registration and proper corporate governance.

If you need assistance with company incorporation or corporate compliance in Nigeria, our team can guide you through every step, from director appointments to CAC filings.

Team 618 Bees

We hope you find this information helpful. Feel free to reach out to us via our dedicated Call Centre lines; +2349017190079/08080819653 (WhatsApp available) or 01-2803791 or by email via hello@618bees.com. We look forward to assisting you with all of your business and compliance filings. Contact us today!

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