The Corporate Affairs Commission (CAC) has commenced the process of striking off 100,000 companies from its register for failing to file annual returns and other statutory documents, in line with the provisions of the Companies and Allied Matters Act (CAMA), 2020. The exercise forms part of the Commission’s ongoing efforts to improve corporate compliance and maintain an up-to-date register of active businesses.
In a public notice, the CAC stated that the deregistration exercise, tagged Batch 6, is being carried out pursuant to Section 692 (3) and (4) of CAMA 2020. The Commission urged affected companies to check the list published on its official website and take immediate steps to regularise their records.
The affected companies have been given 90 days to file all outstanding annual returns, including information on Persons with Significant Control (PSC) and beneficial ownership, and submit evidence of compliance to the Commission through its designated email address. Companies that fail to comply within the stipulated period will be struck off the register without further notice.
According to the CAC, the exercise is intended to strengthen corporate governance, promote transparency and ensure that only compliant and operational businesses remain on Nigeria’s corporate register. The Commission also reiterated its commitment to providing efficient regulatory services while enforcing statutory obligations on registered entities.
Business owners and company directors have therefore been advised to verify their compliance status promptly and regularise any outstanding filings to avoid deregistration. The Commission warned that companies removed from the register could face legal and operational challenges, including the loss of their corporate status and the inability to conduct business as registered entities.
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