#OBSCURELEGALFACTS BY AROME ABU
WHEN A COMPANY CAN HAVE ONE DIRECTOR
Generally, in Nigeria, the Directors of a Company must be at least two(2).
However, an existing company whose Directors deplete to one, may subsist with that one Director, provided that it does not carry on business during the subsistence of such shortfall.
NB: An inactive company risks being struck off by the Corporate Affairs Commission as a defunct company.
See Section 246(2) of the Companies and Allied Matters Act.
AROME ABU IS THE PRINCIPAL PARTNER OF TCLP.
CAVEAT: Note that this information is provided for general enlightenment purposes and is not intended to be any form of legal advice.
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