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CAC Moves to Strike Off 100,000 Dormant Companies, Issues 90-Day Deadline

The Corporate Affairs Commission (CAC) has announced plans to delist over 100,000 companies from its register for prolonged inactivity and failure to comply with statutory obligations under the Companies and Allied Matters Act (CAMA) 2020. In a public notice issued on Monday, July 29, 2025, the Commission stated that the affected companies had either been […]

The Corporate Affairs Commission (CAC) has announced plans to delist over 100,000 companies from its register for prolonged inactivity and failure to comply with statutory obligations under the Companies and Allied Matters Act (CAMA) 2020.

In a public notice issued on Monday, July 29, 2025, the Commission stated that the affected companies had either been inactive for over a decade, failed to carry out business activities, or neglected mandatory regulatory requirements such as annual returns and the disclosure of Persons with Significant Control (PSC).

The move is part of CAC’s ongoing effort to sanitise Nigeria’s corporate records, promote transparency, and align with global anti-money laundering and corporate governance standards.

As part of the process, the Commission has given the identified companies a 90-day grace period from the date of publication to update their status. To avoid being struck off, companies must file all outstanding annual returns and, where necessary, send activation emails to activation@cac.gov.ng.

The notice further warned:

“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 clarified that it is exercising its powers under Section 692(4) of the CAMA 2020, which empowers the Commission to delist companies that fail to file annual returns within the stipulated timeframe. Once delisted, such companies are deemed dissolved from the date of publication.

The Commission also reminded the public of a similar exercise carried out in 2024, during which it delisted several non-compliant entities following a similar 90-day warning.

“Companies stricken off the register are considered dissolved. It is illegal to conduct business or enter into any transactions with such entities,” the notice reiterated.

The announcement comes amid broader digital reforms and modernization initiatives by the CAC, which recently disclosed that it processes over 11,000 transactions daily using artificial intelligence.


Source: Channels Television

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