A Board Resolution For Credit Facility is a crucial corporate document required when a company in Nigeria seeks to obtain any form of credit facility from a financial institution. This document demonstrates that the company's board of directors has properly considered and approved the credit arrangement in accordance with Nigerian law, particularly the Companies and Allied Matters Act (CAMA) 2020 and Central Bank of Nigeria regulations. The resolution typically includes details about the type and amount of facility, security arrangements, and authorized signatories. It serves multiple purposes: satisfying legal requirements for corporate decision-making, providing banks with necessary authorization documentation, and creating a corporate record of the approved borrowing. The document is particularly important in Nigeria's business environment where formal documentation of corporate authority is essential for financial transactions.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Title and Meeting Details: Specifies the type of resolution, date, time, location of the meeting, and confirmation of quorum
2. Attendance: Lists all directors present at the meeting and those absent, including whether apologies were received
3. Notice and Quorum: Confirms proper notice was given and quorum requirements were met as per company's articles
4. Purpose of Resolution: States the purpose of considering and approving the credit facility
5. Details of Credit Facility: Specifies the type, amount, and key terms of the credit facility being approved
6. Bank Details: Identifies the lending institution and relevant account details
7. Board Authorization: Formal statement of board approval for the credit facility
8. Authorized Signatories: Names and designations of persons authorized to execute documents
9. Security Arrangements: Details of any security or collateral approved for the facility
10. Certification: Statement certifying the resolution as true and accurate, signed by Chair/Company Secretary
1. Recitals of Previous Resolutions: Include when the resolution is related to or amends previous credit facility resolutions
2. Corporate Seal Authorization: Include when company seal needs to be affixed to credit facility documents
3. Additional Banking Arrangements: Include when new bank accounts or additional banking services are required
4. Special Conditions: Include when there are specific conditions or covenants imposed by the lender requiring board acknowledgment
5. Delegation of Powers: Include when specific powers are being delegated to officers beyond standard signatory rights
1. Schedule A - Facility Terms: Detailed terms and conditions of the credit facility as proposed by the lender
2. Schedule B - Authorized Signatories: Detailed list of authorized signatories with specimen signatures and signing limits
3. Schedule C - Security Details: Comprehensive list and description of assets offered as security/collateral
4. Appendix 1 - Bank's Offer Letter: Copy of the bank's formal offer letter for the credit facility
5. Appendix 2 - Supporting Documents: List of additional documents required by the bank (e.g., financial statements, business plan)
Find the exact document you need
Resolution To Add Director
A Nigerian law-compliant corporate resolution document for the formal appointment of a new director to a company's board, including statutory declarations and regulatory filing authorizations.
Download
Board Resolution Ratification
A formal document under Nigerian law used to validate and confirm previous board resolutions, ensuring compliance with CAMA 2020 and corporate governance requirements.
Download
Board Resolution For Takeover Of Company
A formal Nigerian corporate document evidencing board approval and authorization for a company takeover, compliant with CAMA 2020 requirements.
Download
Board Resolution For Subscription Of Shares
A Nigerian corporate document recording board approval for new share issuance, compliant with CAMA 2020 requirements.
Download
Board Resolution For Shifting Of Registered Office
A Nigerian corporate document recording the board's formal decision to change the company's registered office location, compliant with CAMA 2020.
Download
Board Resolution For Removal Of Authorised Signatory
A formal Nigerian corporate document removing an individual's authority to sign documents and conduct banking transactions on behalf of a company, in compliance with CAMA 2020.
Download
Board Resolution For Joint Venture Agreement
A Nigerian corporate document recording board approval for entering into a joint venture arrangement, including necessary authorizations and governance elements.
Download
Board Resolution For Increase In Authorised Share Capital
A Nigerian corporate document recording the board's resolution to increase the company's authorized share capital, compliant with CAMA 2020.
Download
Board Resolution For Conversion Of Loan Into Equity
A Nigerian law-governed board resolution document authorizing the conversion of a company loan into equity shares.
Download
Board Resolution For Authorisation To Represent The Company
A Nigerian corporate resolution authorizing designated individuals to represent and act on behalf of the company, in compliance with CAMA 2020.
Download
Board Resolution Approving Transaction
A Nigerian corporate document recording board approval for a specific transaction, compliant with CAMA 2020 requirements.
Download
Board Resolution Appointment Of Auditor
A Nigerian corporate resolution documenting the board's formal appointment of an external auditor, in compliance with CAMA 2020.
Download
Board Resolution Appointing Representative
A Nigerian corporate resolution documenting the board's appointment of a company representative and specifying their powers and authority under CAMA 2020.
Download
Resolution For Signing Authority In Bank
A Nigerian corporate resolution that authorizes specific individuals to operate company bank accounts and conduct banking transactions under Nigerian banking laws.
Download
Board Resolution For Incorporation Of Wholly Owned Subsidiary
A board resolution authorizing the incorporation of a wholly owned subsidiary under Nigerian law, compliant with CAMA 2020.
Download
Board Resolution For Company Closure
A formal Nigerian board resolution documenting the decision to close a company and outline the closure process, compliant with CAMA 2020.
Download
Resolution For Opening Bank Account Of Society
A legal resolution document under Nigerian law authorizing the opening and operation of a bank account for a registered society.
Download
Board Resolution For Ratification Of Agreement
A formal Nigerian corporate document recording board approval and ratification of an agreement, governed by CAMA 2020.
Download
Board Resolution For Share Purchase Agreement
A Nigerian law-governed corporate resolution documenting board approval and authorization for a share purchase agreement, in compliance with CAMA 2020.
Download
Board Resolution For One Person Company
A formal Nigerian legal document recording decisions made by the sole director-shareholder of a one-person company under CAMA 2020.
Download
Board Resolution For Change In Shareholding Pattern
A Nigerian corporate document recording board approval for changes in company share ownership structure, compliant with CAMA 2020 requirements.
Download
Board Resolution For Appointment Of Legal Representative
A Nigerian board resolution document appointing a legal representative and defining their scope of authority under CAMA 2020.
Download
Board Resolution Change Of Directors
A formal Nigerian corporate document recording board decisions regarding changes in company directorship, compliant with CAMA 2020 requirements.
Download
Board Resolution Change Of Address
A formal Nigerian corporate document recording the board's approval to change the company's registered address, compliant with CAMA 2020.
Download
Appointing A Director By Ordinary Resolution
A Nigerian legal document for appointing a company director through ordinary resolution under CAMA 2020.
Download
Corporate Resolution Signing Authority
A Nigerian corporate resolution that designates authorized individuals to sign documents and enter into binding agreements on behalf of a company, in compliance with CAMA 2020.
Download
Resolution To Add Signatory To Bank Account
A Nigerian corporate resolution authorizing the addition of a new signatory to company bank account(s), compliant with BOFIA and CAMA regulations.
Download
Board Resolution For Call On Shares
A Nigerian corporate resolution authorizing the board to require payment of unpaid amounts on partly paid shares, compliant with CAMA 2020.
Download
Board Resolution For Bank Guarantee
A Nigerian corporate document authorizing company representatives to obtain and execute a bank guarantee, compliant with CAMA 2020 and banking regulations.
Download
Board Resolution For Appointment Of Corporate Representative
A Nigerian law-compliant board resolution document appointing and authorizing a corporate representative to act on behalf of the company.
Download
Board Resolution Accepting Resignation Of Director
A Nigerian corporate resolution documenting the board's formal acceptance of a director's resignation, compliant with CAMA 2020.
Download
Board Resolution For Transfer Of Vehicle
A Nigerian corporate document authorizing the transfer of a company-owned vehicle, compliant with CAMA 2020 and road traffic regulations.
Download
Board Resolution For Incorporation Of Company
A formal Nigerian corporate document recording board decisions and authorizations for company incorporation, required under CAMA 2020 for CAC registration.
Download
Board Resolution For Digital Signature
A Nigerian board resolution authorizing the implementation and use of digital signatures in company operations, compliant with CAMA 2020 and electronic transaction laws.
Download
Board Resolution For Declaration Of Dividend
A Nigerian corporate document recording the board's formal resolution to declare and pay dividends to shareholders, in compliance with CAMA 2020.
Download
Board Resolution For Creation Of Charge
A Nigerian corporate document authorizing the creation of a security interest over company assets, requiring board approval and CAC registration under CAMA 2020.
Download
Appointment Of Auditor Resolution
A Nigerian corporate resolution document for the formal appointment of an external auditor in compliance with CAMA 2020.
Download
Resolution To Change Bank Signatories
A Nigerian law-governed corporate resolution authorizing changes to company bank account signatories, specifying new signing mandates and transaction limits.
Download
Directors Resolution
A formal document recording board decisions under Nigerian law, compliant with CAMA 2020 requirements.
Download
Board Resolution For Sale Of Company
A Nigerian law-compliant board resolution document authorizing and approving the sale of a company, providing formal corporate approval under CAMA 2020.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)