Document background
A Board Resolution To Remove Signatory From Bank Account is a crucial corporate governance document used when a company needs to officially remove an individual's authority to operate its bank accounts. This document is particularly important in the Nigerian business context, where it must comply with the Companies and Allied Matters Act (CAMA) 2020 and Central Bank of Nigeria regulations. It's typically required when an authorized signatory leaves the company, changes roles, or when the company updates its banking mandate. The resolution must contain specific details about the company, meeting proceedings, the signatory being removed, affected bank accounts, and implementation instructions. Banks in Nigeria require this formal board resolution as part of their documentation process to effect changes to account signing authorities.
