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The Authorization Letter for Transaction is a crucial document in Nigerian business and personal affairs, commonly used when an individual or organization needs to delegate transaction authority to another party. This document type is particularly relevant in situations where the authorizer cannot be physically present to conduct transactions, requiring formal delegation of authority. The letter must comply with Nigerian legal requirements, including the Contract Act, Powers of Attorney Act, and Central Bank of Nigeria regulations. It typically includes comprehensive details about the authorizer, the authorized party, specific transaction parameters, duration of authority, and any limitations or conditions. The document serves as a protective measure for all parties involved, ensuring clear documentation of the authorized powers while maintaining compliance with Nigerian banking and financial regulations.

1. Date and Place: Current date and location of writing the authorization letter

2. Recipient Details: Full name and address of the institution or person to whom the authorization letter is addressed

3. Subject Line: Clear indication that this is an Authorization Letter for Transaction

4. Authorizer Information: Complete details of the person giving the authorization, including full name, address, and identification details

5. Authorized Person Information: Complete details of the person being authorized, including full name, address, and identification details

6. Transaction Details: Specific details of the transaction(s) being authorized, including amounts, accounts, and purpose

7. Duration of Authorization: Clear statement of the time period for which the authorization is valid

8. Authentication Elements: Signature of the authorizer, witness signatures if required, and any necessary stamps or seals