Document background
The Shareholder Written Resolution is a critical corporate governance tool in Nigerian business practice, authorized under the Companies and Allied Matters Act (CAMA) 2020. This document type is used when companies need to obtain shareholder approval without convening a physical general meeting, offering a more efficient decision-making process. It's particularly useful for private companies with a manageable number of shareholders, or in situations requiring rapid decision-making. The resolution can address various corporate matters, from routine business decisions to significant company changes, and must be circulated to all eligible shareholders. The document must clearly state whether it is an ordinary resolution (requiring simple majority) or a special resolution (requiring 75% majority), and must include all necessary information for shareholders to make an informed decision. Under Nigerian law, these resolutions become effective once the required majority of shareholders have signed them, making them a crucial instrument for corporate governance and compliance.
