Where, in accordance with sections 89-93 of this Act, a company would be liable to a third party for the acts of any officer or agent, the company shall, except where there is collusion between the officer or agent and the third party, be liable notwithstanding that the officer or agent has acted fraudulently or forged a document purporting to be sealed by or signed on behalf of the company.
Companies and Allied Matters Act 2020 · Part B · Chapter 5
Section 94 Liability of company not affected by fraud or forgery of officer
Cite as: Companies and Allied Matters Act 2020, section 94
What this section means
From the guide: How a company acts and when it is bound by its directors, officers and agents
- Where the company would be liable for an officer’s or agent’s acts, it stays liable even if the officer acted fraudulently or forged a seal or signature, unless the third party colluded (section 94).
Read the whole subject
Source: Companies and Allied Matters Act 2020 (Act No. 3 of 2020), Official Gazette No. 124, Lagos, 10 August 2020. General information, not legal advice.