CAC Sets 90-Day Deadline to Strike Off 100,000 Inactive Companies

The Corporate Affairs Commission (CAC) has revealed its intention to delist approximately 100,000 companies that have failed to comply with statutory obligations or have remained inactive for over a decade. This action comes as part of efforts to clean up the national business registry and enforce compliance with the Companies and Allied Matters Act (CAMA).

In a formal notice, the Commission stated that the companies in question had not filed their annual returns or disclosed their Persons with Significant Control (PSC), as required by law. To avoid being removed from the register, affected businesses have been granted a 90-day grace period to update their filings and, if necessary, contact the Commission via activation@cac.gov.ng.

The CAC warned that once a company is struck off, it is considered dissolved and cannot legally operate unless restored by an order from the Federal High Court. The Commission emphasized the legal risks of engaging in business with companies that have been officially removed from the register.

This enforcement step is part of a broader campaign to improve transparency and ensure that only active and compliant entities remain in Nigeria’s corporate registry. It aligns with global standards aimed at preventing financial crimes, including money laundering.

The Commission also pointed out that this is not the first time such action is being taken. A similar notice was issued in July 2024, and by November of that year, several non-compliant companies were delisted. The action was carried out in accordance with Section 692 (4) of CAMA 2020.

Additionally, the CAC has announced a forthcoming adjustment in its service fees, which will take effect from August 15, 2025. The Commission said the new pricing structure reflects current economic conditions and aims to ensure the continued delivery of quality services.