CAC to Strike Off 100,000 Nigerian Companies, Gives 90-Day Deadline to Avoid Delisting
- The CAC has started the process of striking off 100,000 companies for failing to file annual returns and other required documents
- Affected companies have 90 days to update their records and submit proof of compliance to the Commission
- Companies that fail to comply within the deadline will be removed from the register without further notice
Legit.ng journalist Victor Enengedi has over a decade's experience covering energy, MSMEs, technology, banking and the economy.
The Corporate Affairs Commission (CAC) has begun the process of removing 100,000 companies from Nigeria’s official register for failing to comply with statutory filing obligations.
The exercise, identified as Batch 6, targets companies that have not submitted outstanding annual returns and other mandatory corporate documents as required under the Companies and Allied Matters Act (CAMA), 2020.
Source: UGC
The Commission made the announcement in a public notice issued on Wednesday and signed by its management, stating that the action is in line with Sections 692(3) and 692(4) of CAMA 2020.
According to the notice, the names of all affected companies have been published on the Commission’s website, where business owners can verify whether their organisations are included in the latest batch.
Deadline to avoid removal from register
CAC advised affected companies to update their records within 90 days from the date of the notice to avoid being struck off the register.
The Commission explained that the companies must file all outstanding annual returns and disclose their Persons with Significant Control (PSC), also known as beneficial ownership information, where applicable.
It also directed businesses that complete the compliance process to send proof of regularisation to the Commission through the dedicated email address, struckoffcompanies@cac.gov.ng.
No further extension after grace period
The Commission warned that companies failing to meet the 90-day deadline would be removed from the register without any additional notification.
It stressed that no further opportunity would be provided once the deadline expires, urging affected businesses to take immediate steps to comply with the law.
CAC reaffirmed its commitment to delivering efficient and timely services to businesses and the general public while ensuring compliance with Nigeria’s corporate regulations.
Business owners can check the published list of affected companies on the CAC website to confirm whether their organisations are among those scheduled for removal.
Source: Legit.ng
