The Corporate Affairs Commission (CAC) has commenced a fresh CAC deregistration exercise that could see 100,000 companies removed from the official register for failing to comply with statutory filing obligations. The commission announced the development in a public notice issued on Wednesday, stating that the affected companies have been identified for failing to submit outstanding annual returns and other required statutory documents.
According to the notice signed by the Commission’s management, the latest exercise, identified as Batch 6, is being conducted under Section 692(3) and (4) of the Companies and Allied Matters Act (CAMA), 2020. The Commission explained that the names of all affected companies have been published on its official website for public access.
CAC urged the affected firms to regularise their records within 90 days from the date of the notice to avoid being permanently removed from the register.
The Commission stated that compliance includes filing all outstanding annual returns as well as submitting information relating to Persons with Significant Control (PSC), also known as beneficial ownership details. Companies that complete the required filings within the stipulated period will retain their legal status.
Beyond completing the outstanding filings, affected companies have also been instructed to submit evidence of compliance through the Commission’s designated email address. According to the notice, documentation confirming compliance should be forwarded to [email protected] for verification.
The Commission warned that companies that fail to comply within the 90-day window will be struck off the corporate register without any additional notice. It stressed that no further opportunity would be provided once the deadline expires, making it essential for affected organisations to act promptly.
While announcing the enforcement exercise, the Corporate Affairs Commission reaffirmed its commitment to delivering efficient and timely services to businesses operating in Nigeria. The Commission said the deregistration exercise is part of ongoing efforts to maintain an accurate and up-to-date corporate register while ensuring compliance with statutory obligations under Nigerian corporate law.
