Registering an Incorporated Trustee with CAC in Nigeria is not much difference with other entities. Incorporated Trustees is provided for in the Companies and Allied Matters Act 2020 (CAMA). It is classified under PART C of CAMA and the sections that talked about it extensively is Sections 590-596.
The CAMA defines Incorporated Trustees in Sec 590(1) thus: “Where one or more trustees are appointed by any community of persons bound together by custom, religion, kinship or nationality or by anybody or association of persons established for any religious, educational, literary, scientific, social, development, cultural, sporting or charitable purpose, he or they may, if so authorized by the community, body or association (in this Act referred to as “the association”) apply to the Commission in the manner hereafter provided for registration under this Act as a corporate body”.
What this means is that any group of persons that have common interest and goal can come together and register their entity under Part C as an Association. The entities that fall under this category are:
- Social clubs
- Associations etc.
If your group fall into any of the listed categories then follow the steps below.
- Get 2 unique names for name search; in the process of name search you are also seeking for consent to register. Fill out the forms on the Company Registration Portal (CRP) and make the necessary payment.
- Once the name is approved, you advertise the name in a newspaper; it’s called newspaper publication and such publication will be done in 2 National daily newspapers.
- This newspaper publication is simply calling the general public to put up an objection (if any) to the registering of the entity. The notice will be up for 28 days, if after 28days there is no objection received by the commission then you can go ahead to complete the registration. This is contained in Sec 594 of CAMA 2020.
- After 28 days of the publication, you will fill out the necessary details, upload the required document and then make payment.
In registering an Incorporated Trustees with Corporate Affairs Commission CAC you must have at least 2 persons as Trustees. By Sec 592 these are the qualification for trustees;
(1) A person shall not be qualified to be appointed as a trustee if‐
(a) he is an infant; ie the person must be 18 years and above or
(b) he is a person of unsound mind having been so found by a court;
(c) he is an undischarged bankrupt; or
(d) he has been convicted of an offence involving fraud or dishonesty within five years of his proposed appointment.
If that is settled then in filling out the forms these are the details required;
- the aims and objects of the Association which must be for the advancement of any religious, educational, literary, scientific, social, development, cultural, sporting or charitable purpose, and must be lawful;
- the names, addresses, phone numbers, ID cards and occupations of the Trustees of the Association
- the names, addresses, phone number, ID card and occupation of the secretary of the Association, if any.
Once all these details have been provided for and the necessary fees paid, you wait for the Commission’s approval and thereafter download/print your certificates and other accompanying documents.
In conclusion, it is an unlawful act for you to start running the Association, Church, Social Clubs etc without first registering it with CAC. Note that you must be a CAC accredited agent for you to get this process done and there are many technicalities in the registration. If you have further question(s) to ask or you need assistance with your registration we are available.
Call us on: 08035492685