Can a public servant be a company director in Nigeria?

Can public servant be director of a company?

Only civil servant employed on a part time basis are permitted by law to engage in or participate in the running of a private business as directors of a private company. However, civil servants employed on a full time basis can take on the role as director of a private company (s) only upon retirement.

Who can be a company director in Nigeria?

A director must be above 18 years of age, but below 70 years of age. However, under section 252(1) of the CAMA, any person who is appointed or to his knowledge proposed to be appointed director of a public company and who is 70 or more years old shall disclose this fact to the members at the general meeting.

Can civil servants do business?

Are IAS Officers Allowed to do Business? IAS officers are strictly prohibited under governmental regulations from directly partaking in business for personal interest while serving as a bureaucrat. However, retired IAS officers are allowed to run their own businesses.

Can a government employee be a promoter of a company?

As suggested by Rama Krishana See the rule book which is governing the service of the particlur government employee who want to promote soem company or business. There may be some circumstnces in which permission can be granted by employer to engage in such activities.

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Can an employee be a director of another company?

Director is a proper/trusted authority of a company but there is nothing that prohibits him from being an employee of any other company. … So, mere employment won’t have any effect on the company where he holds the position of director.

Can civil servant own shares?

35(1) No Government servant shall speculate in any stock, share or other investment: Provided that nothing in this sub-rule shall apply to occasional investments made through stockbrokers or other persons duly authorized and licensed or who have obtained a certificate of registration under the relevant law.

Who can be director in a company?

Only an Individual (living person) can be appointed as a Director in a Company. A body corporate or business entity cannot be appointed as a Director in a Company. A company can have a maximum of fifteen Directors – it can be increased further by passing a special resolution.

Who can remove a director of a company?

To Remove a Director Suo-moto by the Board

A Company has the authority to remove a Director by passing an Ordinary Resolution, given the Director was not appointed by the Central Government or the Tribunal. A Board Meeting will be called by giving seven days’ notice to all the directors.

Who can be a director under CAMA?

The CAMA 2020 requires any person that is proposed to be appointed as a director of a public company to disclose, at the meeting where he is to be appointed, any position he holds as a director in any other public company.

Can IAS buy BMW?

IFS officers can afford Audi ,BMW or Mercedes( they can buy cars duty free ). Even an IAS officer can buy one after 10 to 15 years of savings from salary.

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Can IAS keep beard?

There are no rules yet being imposed by the Indian government not to have a beard and long hair. However, during training at LBSNAA, you need to be clean and precise.

Who can suspend IAS officer?

3. Whether Central Government/ Ministries/ Departments are competent to suspend/ institute departmental proceedings against an IAS officer? The Government in connection with whose affairs, the officer was serving at the time of alleged misconduct.

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