The Corporate Affairs Commission (CAC) has fixed December 1, 2026, as the deadline for accredited insolvency practitioners to renew their accreditation, warning that failure to meet the requirement will lead to automatic suspension.
The commission noted that practitioners who do not renew their accreditation by the stipulated date will be barred from taking on new insolvency assignments or continuing existing ones.
In a notice shared on its official X account on Wednesday, the CAC said the directive was in line with Section 705 of the Companies and Allied Matters Act, 2020, and Regulation 1.07 of the Insolvency Regulations, 2022.
It added that accreditation to practise as an insolvency practitioner remains valid for three years and must be renewed upon expiry.
“All practitioners whose accreditation is due for renewal are required to renew on or before 1 December 2026, failing which their accreditation shall be automatically suspended, rendering them ineligible to undertake or continue insolvency assignments,” the notice stated.
The CAC also announced mandatory re-registration for all accredited insolvency practitioners, including those whose accreditation remained valid and unexpired.
According to the commission, the exercise was necessary to support its end-to-end automation process and update practitioners’ identification records in line with the National Identity Management Commission Act, 2026.
The commission further disclosed that new certificates featuring enhanced security features would be issued to practitioners upon successful registration.
“Furthermore, in view of the Commission’s end-to-end automation and the need to update identification records in line with the NIMC Act, 2026, all accredited practitioners, including those with valid, unexpired accreditation, are required to re-register,” the notice stated.
The CAC directed all affected practitioners to complete their applications and re-registration online through its dedicated insolvency portal.
“All applications and re-registration must be completed online via https://insolvency.cac.gov.ng,” the commission said.
It advised practitioners to comply promptly with the directive to avoid disruptions to their professional activities.
Further information on the renewal and re-registration exercise is available on the commission’s website at https://cac.gov.ng.