Who is a trustee?

Who is a trustee?

October 19, 2018

Trustees have the overall legal responsibility for an NGO/Foundation/Incorporated Trustee. They are persons having the general control and management of the administration of the organization.

Trustees have specific duties that should be set out in the organization’s constitution.

WHO CAN BE A TRUSTEE FOR AN NGO IN NIGERIA?

Anyone can be appointed as trustee, as long as he/she does not fall under any of the following categories;

  • an infant; or
  • a person of unsound mind having been so found by a court; or
  • an undischarged bankrupt; or
  • a person that has been convicted of an offence involving fraud or dishonesty within five years of his proposed appointment.

If a person falls under any of the above listed categories and is appointed as a trustee, he/she is liable to a fine of N50 for every day during which he so acts as one.

Reference S.592 CAMA

Do you have any question or clarification regarding the topic in this post that was not answered/ provided by this post? Or you have questions regarding what the law states about a particular legal issue? Log on to our website – www.618bees.com or call us on +23412803791 to speak to any of our consultants that are always on hand to provide answers to such questions.

Best Regards,

Team 618 Bees

 

 

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.

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