100,000 Companies Risk Deregistration as CAC Begins Fresh Crackdown
Firms listed in Batch 6 have 90 days to file outstanding annual returns and beneficial ownership details or be struck off.
The Corporate Affairs Commission (CAC) has begun another nationwide exercise to remove companies that have failed to comply with statutory filing requirements, with 100,000 businesses now at risk of being struck off its register.
In a public notice issued on Wednesday, the commission said the affected firms form Batch 6 of the ongoing exercise, which is backed by Section 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
The full list of companies has been uploaded to the commission’s website, giving business owners the opportunity to confirm whether their companies have been listed.
Those affected have been given 90 days to bring their records up to date by filing all outstanding annual returns, including details of Persons with Significant Control (PSC), also known as beneficial ownership.
Once the filings have been completed, evidence of compliance is to be forwarded to the commission through st****************@*****ov.ng.
CAC warned that companies that fail to regularise their records within the deadline will be removed from the register without any further notice.
The commission urged business owners to check the published list promptly and take the necessary steps to avoid losing their registration.
Enjoyed this? Get the morning brief.
News from Nigeria and Africa, in one free email every day.
