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A Letter To Bank For Change In Authorised Signatory is a critical document used when companies need to update their banking arrangements due to personnel changes, organizational restructuring, or policy modifications. This document is particularly important in the Nigerian business context, where it must comply with strict banking regulations and corporate governance requirements. It is typically required when new directors or officers are appointed, existing signatories leave the organization, or when the company wishes to modify its signing mandates. The letter must include specific details about the accounts affected, clear identification of both current and new signatories, and must be supported by appropriate corporate authorizations such as board resolutions. In Nigeria, this document must align with requirements set out by the Central Bank of Nigeria and individual banking institutions, making it a crucial tool for maintaining proper financial controls and regulatory compliance.

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

2. Reference Information: Account number(s), account name, and any reference numbers

3. Subject Line: Clear indication that this is a request for change in authorized signatory

4. Current Signatory Details: Details of existing authorized signatory(ies) being removed

5. New Signatory Details: Complete information about new signatory(ies) including full name, designation, and specimen signature

6. Effective Date: Specified date from which the change should take effect

7. Authorization Statement: Statement confirming the company's authorization for this change

8. Closing and Signatures: Formal closing, including signatures of current authorized persons as per bank records