A Director's Resignation Letter is a letter written by a director indicating their intention to resign as director of a company.
In Nigeria, either an individual or a company can act as a director of a Company. However, for a director's appointment to be valid, such director must have attained the age of 18 years and not disqualified from being a director under the Nigerian laws.
The letter of resignation should contain information about the resigning director, information about the company, the reason(s) for the resignation and the date the resignation becomes effective. Note that the resignation will take effect from the date the notice was received or the date (if any) specified by the director in the letter.
Also note the director remains liable for acts done or executed by him during the period he/she acted as director.
How to use this document
This document can be used by an individual or company that intends to resign their position as a Company director.
After filling this form, the resigning director must sign the letter. If the director is a company, the document must be signed by a director of that company who has been authorized to represent that company in the Board of Directors of the Company that appointed the director. After signing the document, the resigning director must deposit a signed copy to the Company and keep at least one copy for record purposes.
The Company that appointed the director must file this letter along with a duly completed FORM CAC 7A (Notice of Change of Directors) at the Corporate Affairs Commission, which is the body that regulates the affairs of companies and this should be done within 14 days from the date the resignation became effective.
Note that if this is not filed within 14 days of appointment, the Company will be required to pay monetary penalty for late filing.
The Companies and Allied Matters Act, 2004 is the applicable law.
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