The Corporate Affairs Commission (CAC) has issued a stern warning: approximately 100,000 companies face delisting from its register due to prolonged inactivity or non‑compliance under the Companies and Allied Matters Act (CAMA).
This initiative is part of the CAC’s broader effort to cleanse Nigeria’s corporate registry, ensuring that only active and compliant entities are retained, and to bolster transparency in company ownership and governance, especially in compliance with anti‑money laundering protocols.
A public notice from the Commission detailed that affected firms have either ceased operations, remained inactive for at least ten years, or neglected key regulatory obligations—particularly the annual filing of returns and the disclosure of Persons with Significant Control (PSC).
The CAC is granting a 90‑day window from the notice’s publication for companies to regularise their status.
To avoid removal, businesses must file all outstanding annual returns and, where relevant, send activation emails to activation@cac.gov.ng.
“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 notice emphasised, referencing a similar delisting exercise in November of last year.
The Commission highlighted its authority under Section 692(4) of CAMA 2020, which empowers it to strike off companies that fail to update annual returns within the stipulated timeframe.
Companies removed from the register are considered dissolved effective from the notice’s publication.
“The General public may recall that the Commission issued a Notice of Intention to strike off the names of Companies which the Commission has reasonable cause to believe are not carrying out business or are otherwise dormant because of not filing Annual Returns for 10 years. Statutory Period of 90 days was given to such companies to file the requisite Annual Returns and send activation email to activation@cac.gov.ng,” the Commission stated.
“Companies stricken off the register are deemed to have been dissolved from the date of publication. It is illegal to enter into any transaction or deal with a company that has been dissolved,” the statement added.
