Affidavit Of Beneficial Ownership for Nigeria

Affidavit Of Beneficial Ownership Template for Nigeria

An Affidavit of Beneficial Ownership is a formal sworn statement filed under Nigerian law that identifies and confirms the ultimate beneficial owners of a company or corporate entity. This legal document, governed by the Companies and Allied Matters Act (CAMA) 2020 and related Nigerian regulations, provides detailed information about individuals who ultimately own or control a significant portion of a company's shares or voting rights. The affidavit must be sworn before a Commissioner for Oaths or Notary Public and includes comprehensive details about the beneficial owners' identities, their ownership percentages, and the nature of their control over the entity.

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What is a Affidavit Of Beneficial Ownership?

The Affidavit of Beneficial Ownership is a mandatory legal requirement in Nigeria, introduced to enhance corporate transparency and combat financial crimes. This document is required when registering a new company, updating ownership information, or complying with regulatory requirements under the Companies and Allied Matters Act (CAMA) 2020. It serves as a sworn statement detailing who ultimately owns or controls a company, including information about direct and indirect ownership structures. The affidavit is particularly important for compliance with anti-money laundering regulations, foreign investment tracking, and corporate governance requirements. It must be filed with the Corporate Affairs Commission and updated whenever there are significant changes in beneficial ownership structure.

What sections should be included in a Affidavit Of Beneficial Ownership?

1. Title and Heading: Formal title 'AFFIDAVIT OF BENEFICIAL OWNERSHIP' with court details and jurisdiction

2. Deponent Information: Full details of the person making the affidavit, including full name, nationality, occupation, and address

3. Company Information: Details of the company including registered name, registration number, and registered address

4. Oath Statement: Formal declaration under oath stating the deponent's authority to make the statement

5. Beneficial Ownership Details: Detailed information about the beneficial owner(s) including full names, addresses, nationalities, and extent of ownership

6. Nature of Ownership: Description of how the beneficial ownership is held (direct shares, voting rights, control rights, etc.)

7. Declaration of Truth: Standard affirmation that the information provided is true and correct

8. Verification Statement: Formal closing statement verifying the contents of the affidavit

What sections are optional to include in a Affidavit Of Beneficial Ownership?

1. Corporate Structure Details: Used when the beneficial ownership structure involves multiple corporate entities or complex ownership chains

2. Trust Arrangements: Required when beneficial ownership involves trust structures or nominee arrangements

3. Historical Ownership Changes: Included when there have been recent changes in beneficial ownership that need to be disclosed

4. Foreign Ownership Details: Required when beneficial owners are foreign nationals or entities

5. PEP Declaration: Statement regarding whether any beneficial owner is a Politically Exposed Person, used when required by specific circumstances

What schedules should be included in a Affidavit Of Beneficial Ownership?

1. Schedule A - Identity Documents: Copies of identification documents of beneficial owners (passport, national ID, etc.)

2. Schedule B - Corporate Structure Chart: Visual representation of the ownership structure when complex arrangements exist

3. Schedule C - Share Certificates: Copies of relevant share certificates or other ownership documents

4. Schedule D - Supporting Documents: Additional documentation evidencing beneficial ownership (e.g., trust deeds, shareholder agreements)

5. Schedule E - Corporate Authorization: Documents showing the deponent's authority to make the affidavit on behalf of the company

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Nigeria

Publisher

Genie AI

Document Type

Affidavit

Cost

Free to use
Relevant legal definitions
Relevant Industries

Financial Services

Banking

Real Estate

Oil and Gas

Manufacturing

Technology

Telecommunications

Mining

Agriculture

Construction

Healthcare

Education

Retail

Transportation

Professional Services

Energy

Relevant Teams

Legal

Compliance

Corporate Secretariat

Risk Management

Corporate Affairs

Finance

Executive Leadership

Regulatory Affairs

Corporate Governance

Administrative Services

Relevant Roles

Company Secretary

Legal Counsel

Compliance Officer

Corporate Governance Officer

Risk Manager

Chief Financial Officer

Chief Executive Officer

Director of Legal Affairs

Corporate Affairs Manager

Board Director

Managing Director

Regulatory Compliance Manager

Company Registrar

Legal Administrator

Corporate Services Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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