Document background
A Unanimous Resolution of Shareholders is a fundamental corporate governance tool used in Nigerian business practice, regulated under the Companies and Allied Matters Act (CAMA) 2020. This document type is employed when all shareholders of a company need to formally approve specific corporate actions without holding a physical general meeting. It's particularly useful for companies with a manageable number of shareholders where obtaining unanimous consent is practical. The resolution must be signed by all shareholders holding voting rights and can cover various corporate actions such as share transfers, constitutional amendments, major business decisions, or appointment of officers. This document type is crucial for maintaining proper corporate records and ensuring compliance with Nigerian company law requirements. The unanimous nature of these resolutions makes them especially valuable for smaller private companies or those with good shareholder relationships, though they can be used by any company size where 100% shareholder agreement can be achieved.
