When should a Board Meeting take place in a company?

When should a Board Meeting take place in a company?

February 19, 2020

A board meeting of a company can take place anytime the company has pending issues to discuss, provided the right notice is given out to the members of the board informing them of the meeting. However, there are some statutory requirements regarding board meetings.

A company is required to have an Annual General Meeting every year. This is a meeting of both directors and shareholders of the company. See section 213 of the Companies and Allied Matters Act. A company shall hold its meeting not more than 15months after the last Annual General Meeting. A newly incorporated company may hold its Annual General Meeting within 18months of its incorporation.

A company can hold a Board Meeting other than the Annual General Meeting whenever they deem fit, to discuss issues relating to the company. This is known as an Extraordinary General Meeting. See Section 215(1) of the Companies and Allied Matters Act.

A public company is required by law to hold a General Meeting 6months after incorporation. This is known as a statutory meeting and failure to comply with this section makes the company and its officers liable to a fine of N50 every day. See Section 211 of the Companies and Allied Matters Act

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. 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


More Articles


Connect With Us

Got any questions?

If you are having any questions, please feel free to ask.

Send us an email

Frequently Asked

  • Why must I file Annual Returns?

    It is a mandatory statutory requirement under the Companies and Allied Matters Act to file Annual Returns yearly. 

  • Do I need a Company Secretary?

    A limited liability company (LLC) must have a company secretary.

  • What is an execution clause in a contract?

    This is the section in which the parties sign the contract or agreement.

  • What are the penalties for not registering my products with the SON?
      1. Seizure of goods by the Inspectorate and Compliance Directorate
      2. Payment of a fine.
      3. Prosecution


  • Is it legal to transfer the personal data you obtained legally to another person?

    No, its not legal. This is because the law prohibits anyone from transferring the data of a third party to another person without consent from the third party to do same even if the data was rightfully obtained in the first instance.

  • What is the basic criteria for registering a Design?

    The design must be new and original. This means that it must be a unique design not similar to an already existing design.

  • Can I process/register multiple products at NAFDAC at the same time?

    Yes, you can process/register multiple products at the same time

  • Can a minor be a company director?

    No, a minor cannot be a director. A minor under Nigerian Law is anyone who is below 18 years of age.

  • Does a trademark search automatically reserve my trademark name?

    No, a trademark search does not automatically reserve that which is sought to be trademarked. A search ascertains whether that which is sought to be trademarked is available or violates any existing trademark.

Call Us Now on +234 901 719 0079 Chat on WhatsApp