Introduction
Changing directors in a Nigerian company is a legal process that must be handled through the Corporate Affairs Commission (CAC). Directors are responsible for managing a company’s affairs.
Therefore, when there’s a change, whether due to resignation, removal, or appointment then it must be officially updated with CAC to reflect the new structure.
This article explains how to change directors with CAC in simple steps.
How to Change Directors of a Company with CAC Online
Changing directors online through the CAC portal is fast and convenient. First, log in to the CAC registration portal using your company account. Go to Post-Incorporation Services and select “Change of Director.”
Prepare the necessary documents, such as the board resolution, resignation letter of the outgoing director (if applicable), the consent letter of the incoming director, and a valid means of identification.
Fill out the CAC Form 7 and upload all documents. Proceed to make payment. Once the application is submitted and approved, CAC will update the company records to reflect the changes.
CAC Change of Directors Fee
The cost of changing directors with CAC varies depending on the type of company and the nature of the changes. For small private companies, the fee is usually between ₦20,000 and ₦30,000. For larger or public companies, it may be higher.
If you are hiring a legal consultant or CAC-accredited agent to help, their service fee will be separate. Payment is made online via the CAC portal when submitting your application.
How to Change Directors of a Company with CAC in Nigeria
To change directors in Nigeria, you need to follow official procedures set by CAC. First, the company’s board must meet and agree on the appointment or removal of a director. A board resolution is passed and documented.
Then, you prepare all required documents: resignation letter (if applicable), consent of the new director, valid identification, and CAC Form 7. Submit everything on the CAC portal or at a physical office.
Make the required payment and wait for processing. Once approved, CAC updates the records, and your company’s new list of directors becomes legally recognized
Frequently Asked Questions
How much is change of director in CAC
The fee for changing a director in CAC ranges between ₦20,000 and ₦30,000 for private companies. Public companies may pay more.
How to file a change of director
To file a change of director, hold a board meeting and pass a resolution. Prepare the resignation letter, new director’s consent, valid ID, and fill Form 7. Submit these via the CAC portal and make payment.
What is the CAC form for change of director
The main form used is Form CAC 7. This form is officially titled “Particulars of Directors” and is used to update the list of current directors of a company in Nigeria with CAC.
How do I remove a Director from CAC
To remove a director, pass a board resolution approving the removal. Prepare a resignation letter or formal removal document.
Submit these along with updated Form 7 and valid ID through the CAC portal and pay the required fee.
Conclusion
Changing directors in your company is a legal process that must be reported to the Corporate Affairs Commission (CAC). Whether you’re appointing a new director or removing an existing one, you must submit the correct documents, pay the official fee, and follow CAC guidelines.
This helps maintain accurate company records and ensures compliance with Nigerian laws under CAMA 2020