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A Board Resolution For Reactivation Of Bank Account is a crucial corporate document required when a company needs to resume operations with a previously dormant or inactive bank account in Nigeria. This document becomes necessary when bank accounts have been inactive for a period specified by the bank (typically 6-12 months) or when there have been significant changes in company leadership or authorized signatories. The resolution must comply with the Companies and Allied Matters Act (CAMA) 2020, Banks and Other Financial Institutions Act (BOFIA) 2020, and Central Bank of Nigeria regulations. It demonstrates proper corporate governance and provides banks with the legal authority to reactivate accounts. The document typically includes details of the board meeting, specific account information, new signatory arrangements, and any updated banking instructions.

1. Title and Company Details: Formal title of the resolution, company name, registration number, and registered address

2. Meeting Details: Date, time, location of the board meeting, and statement of proper convening

3. Attendance: List of directors present and absent, confirmation of quorum

4. Chairperson: Identification of the meeting's chairperson

5. Background: Brief explanation of the dormant account status and need for reactivation

6. Bank Account Details: Specific details of the account(s) to be reactivated including account numbers and bank branch

7. Resolution Statement: The formal resolution text authorizing account reactivation and appointing signatories

8. Authorization of Signatories: Names and details of authorized signatories with their signing powers

9. Certification: Statement certifying the resolution as true and accurate

10. Execution: Space for signatures of chairman and company secretary/director