By By Elizabeth Ugbo
The Corporate Affairs Commission (CAC) has announced a fresh exercise to remove 100,000 companies from Nigeria’s Companies Register. The exercise, which begins immediately across Nigeria, targets companies that have failed to meet statutory filing obligations. The Commission is acting under Section 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020. Affected companies have 90 days to file outstanding Annual Returns, update their Beneficial Ownership information, and regularise their records to avoid being struck off.
CAC Publishes List of Affected Companies
The Commission disclosed that the names of the affected companies are available on its official website.
Business owners and directors should check the published list to confirm whether their companies are affected. The list contains 100,000 companies facing possible removal from the Companies Register.
Companies Have 90 Days to Regularise Records
CAC urged all affected companies to take immediate action within the 90-day window.
The Commission directed companies to:
- File all outstanding Annual Returns.
- Update Persons with Significant Control (PSC) or Beneficial Ownership information.
- Regularise every outstanding statutory record.
Furthermore, companies should send proof of compliance to struckoffcompanies@cac.gov.ng after completing the required filings.
Failure to Comply Will Lead to Strike-Off
The Commission warned that it will remove any company that fails to comply within the stipulated period.
According to CAC, companies that ignore the directive will be struck off the Register without further notice, in line with the Companies and Allied Matters Act, 2020.
CAC Reaffirms Commitment to Efficient Service
The Commission reaffirmed its commitment to delivering prompt and efficient services to businesses and stakeholders.
It also encouraged affected companies to act quickly and complete all outstanding obligations before the deadline expires.
