DAILY LAW TIPS by Onyekachi Umah,Esq.(Tip 153)
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“A Minor Can Be A Shareholder But Not A Director In A Nigerian Company.”
A minor is one who is less than 18 years old. Such a person can be a shareholder in any company so far as they are at least 2 other shareholders who are adults. A minor can never be a director in any company in Nigeria. Directors see to the day to day running of a company and a minor obviously can’t handle such tasks.
My authorities are section 20 of the Companies and Allied Matters Act.
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