The Corporate Affairs Commission (CAC) has announced plans to delist over 100,000 dormant and non-compliant companies from its official register. This bold move is part of the Commission’s wider efforts to clean up Nigeria’s business registry, ensure regulatory compliance, and promote ease of doing business in the country.
Why Is the CAC Delisting Companies?
According to the CAC, the delisting targets companies that have failed to file annual returns for 10 years or more, in violation of the Companies and Allied Matters Act (CAMA) 2020. These businesses are deemed inactive and are being removed to maintain a credible, updated register of operating entities in Nigeria.
“This exercise will enhance transparency, prevent abuse of corporate entities, and ensure that only legitimate, active businesses are retained in our database,” said CAC Registrar-General, Hussaini Ishaq Magaji (SAN).
What This Means for Business Owners
Affected businesses will be struck off the register, meaning they will no longer be legally recognised or allowed to operate in Nigeria. However, the CAC has advised company owners to regularise their filings immediately to avoid delisting. This includes paying outstanding fees and submitting overdue annual returns.
The list of companies slated for removal has been published on the CAC website, and stakeholders are encouraged to review and take necessary action within the stipulated timeframe.
Key Points:
- Over 100,000 dormant companies are at risk of delisting.
- Targeting entities with 10+ years of non-compliance.
- Based on provisions in CAMA 2020.
- CAC urges business owners to file annual returns to avoid being struck off.
- Part of the efforts to boost Nigeria’s business environment.
How to Check Your Company’s Status
To check if your company is listed for removal, visit the official CAC website and navigate to the public notice section. You can also consult a registered CAC agent or lawyer for assistance in regularising your company status.
