The Corporate Affairs Commission (CAC) has announced plans to delist 100,000 companies from its register for failing to meet statutory obligations under the Companies and Allied Matters Act (CAMA). This move, the Commission said, is aimed at sanitizing Nigeria’s corporate registry and ensuring only active, law-abiding entities remain in operation.
In a public notice issued this week, the CAC stated that the affected companies have either been inactive for over a decade, failed to carry on business, or consistently ignored regulatory requirements—particularly the filing of annual returns and disclosure of Persons with Significant Control (PSC). The Commission has invoked Section 692(4) of CAMA 2020 to carry out this delisting exercise.
To avoid being struck off the corporate register, affected companies have been given a 90-day grace period to regularise their status. This includes the prompt filing of all outstanding annual returns and, where applicable, sending activation emails to the CAC via [email protected]. Companies that fail to comply within the stipulated timeframe will be deemed dissolved from the date of publication.
The Commission further warned that it is illegal for any company removed from the register to continue operating unless formally restored by an order of the Federal High Court. Entering into business transactions with such entities is also considered unlawful.
This crackdown builds on previous enforcement actions. In July 2024, the CAC issued a similar warning, which led to the delisting of several non-compliant companies by November of the same year.
The current delisting effort aligns with Nigeria’s broader push to enhance corporate transparency and governance. It also supports anti-money laundering and financial integrity standards by ensuring that only compliant firms particularly those that disclose beneficial ownership and file timely reports—remain in good standing.
Under Nigerian law, registered companies are required to file annual returns within 42 days of each incorporation anniversary, while business names must file before June 30 each year. Failure to comply attracts penalties and risks of deregistration.
The full list of the 100,000 companies scheduled for delisting is available on the CAC’s official platforms.
