Document background
The Shareholders Agreement and Articles of Association are fundamental documents required for establishing and operating a company in Nigeria. These documents are particularly crucial when incorporating a new company or restructuring an existing one under Nigerian law, specifically the Companies and Allied Matters Act (CAMA) 2020. The combined document serves multiple purposes: it defines the relationships between shareholders, establishes corporate governance structures, sets out share transfer restrictions, and provides mechanisms for dispute resolution. This comprehensive agreement is essential for protecting shareholder interests while ensuring compliance with Nigerian corporate law requirements. It's commonly used when multiple shareholders are involved, especially in private companies, joint ventures, or when foreign investment is present. The document must reflect specific Nigerian regulatory requirements while accommodating international best practices in corporate governance.
