Document background
The Decision Memorandum is a crucial document in Nigerian business and administrative practice, used when organizations need to make and document significant decisions that require careful analysis and formal approval. This document type emerged from the need to maintain clear records of decision-making processes, as required by Nigerian corporate governance standards and the Companies and Allied Matters Act 2020. A Decision Memorandum typically contains detailed analysis of the situation, options considered, financial implications, risks, and recommended actions. It serves multiple purposes: as a decision-making tool, a formal record for audit purposes, and a communication medium for implementing decisions. The document is particularly important in contexts where decisions need to be tracked, justified, and referenced for future organizational actions or regulatory compliance.
