The Corporate Affairs Commission (CAC) has issued a 90-day grace period for approximately 91,000 inactive companies in Nigeria to file their outstanding annual returns or face being deleted from the CAC database. The notice, released on Wednesday, targets organizations that have failed to submit statutory annual documents for the past 10 years.
The CAC warned that companies operating after removal from its register would be violating Nigerian laws and could face prosecution. However, companies may continue operations if they obtain a court order permitting them to do so.
Affected firms are advised to utilize the three-month window to file all outstanding annual returns and notify the CAC via email at [email protected] to be removed from the delisting roster. Companies can also contest their inclusion in the delisting log within the grace period by emailing [email protected].
“This is to inform the general public that the commission, pursuant to its powers contained in Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020, intends to strike off from the register names of defunct or dormant companies that have not filed annual returns for a period of 10 years. A full list is published on the commission’s website, www.cac.gov.ng,” the statement said.
