CAC To Delist Dormant Companies Over Regulatory Non-Compliance

The Corporate Affairs Commission (CAC) has threatened to delist about 100,000 companies from Nigeria’s company register due to prolonged inactivity and persistent non-compliance with statutory obligations under the Companies and Allied Matters Act (CAMA), 2020.

In a public notice issued by the Commission, the affected entities were identified as companies that have failed to carry on business, remained inactive for at least a decade, or consistently neglected mandatory regulatory filings.

Key areas of non-compliance include failure to submit annual returns and neglecting to disclose Persons with Significant Control (PSC) as required by law.

The CAC has granted a 90-day grace period, beginning from the date of the public notice, for defaulting companies to regularise their status. Companies wishing to avoid being struck off the register must submit all outstanding annual returns and, where applicable, send activation emails to activation@cac.gov.ng to initiate the reinstatement process.

The Commission warned that once a company is removed from the official register, it would be unlawful for it to continue business operations unless reinstated through an order of the Federal High Court.

“This measure is in line with our mandate to maintain an accurate, credible and up-to-date corporate registry,” the notice stated, stressing that the exercise is part of wider efforts to sanitise Nigeria’s corporate landscape.

The planned delisting also aligns with the Federal Government’s commitment to promoting corporate transparency and strengthening anti-money laundering frameworks, particularly through enhanced disclosure of beneficial ownership and improved governance standards.

Observers see this move as a significant step toward improving the integrity of Nigeria’s business environment, encouraging corporate accountability, and ensuring only active and compliant businesses benefit from legal incorporation.

CAC To Delist Dormant Companies Over Regulatory Non-Compliance is first published on The Whistler Newspaper