The Corporate Affairs Commission (CAC) has issued a stern warning to delist 100,000 companies from its register for prolonged inactivity and failure to comply with statutory obligations under the Companies and Allied Matters Act (CAMA).
This initiative is part of the Commission’s broader strategy to clean up Nigeria’s corporate registry, ensuring that only functional and law-abiding businesses remain listed. It also supports ongoing efforts to boost transparency in corporate ownership and governance, aligning with global anti-money laundering standards.
According to a public notice released by the CAC, the targeted companies were flagged for not conducting business, remaining inactive for over a decade, or consistently neglecting regulatory duties—especially the filing of annual returns and the disclosure of Persons with Significant Control (PSC).
The Commission has granted a 90-day grace period for the affected entities to regularise their status.
To avoid removal, these companies are required to file all outstanding annual returns and, where necessary, send activation emails to [email protected].
“It shall be unlawful for any company struck off the Register of Companies to continue carrying on business unless it is restored by an order of the Federal High Court,” the CAC warned, referencing a similar action taken in November 2023 after a notice was issued in July of that year.
The CAC cited its authority under Section 692 (4) of CAMA 2020 to strike off companies that fail to comply with return filing obligations. Companies removed from the register are considered legally dissolved from the date of publication.
The public is cautioned against engaging in any business or contractual dealings with companies that have been delisted.