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The Cheque Signing Authority Letter to Bank is a fundamental document in Nigerian corporate banking that establishes the framework for authorized financial transactions. It is typically required when setting up new banking relationships, changing authorized signatories, modifying signing limits, or updating signing arrangements. The document must comply with Nigerian banking regulations, including BOFIA 2020 and CAMA 2020, and typically follows specific formatting and content requirements set by individual banks. It includes detailed information about authorized signatories, their powers, transaction limits, and signature combinations, serving as a critical control mechanism for protecting corporate assets and ensuring proper financial governance.

1. Bank Details: Full name and address of the bank branch where the account is held

2. Account Information: Company name, account number(s), and type of account(s) covered by the authority

3. Current Authority Reference: Reference to any existing signing mandate that this letter will replace or modify

4. Authorization Basis: Reference to the board resolution or other corporate authority authorizing this mandate

5. Signing Powers: Clear description of the signing arrangements (e.g., single, joint, multiple signatories and any applicable thresholds)

6. Authorized Signatories: Names, positions, and specimen signatures of all authorized individuals

7. Signature Requirements: Specific combinations or classes of signatories required for different transaction amounts

8. Effective Date: When the new signing authority takes effect

9. Company Authorization: Signature of appropriate company officer(s) authorized to issue this mandate