The Corporate Affairs Commission (CAC) has threatened to delist 100,000 companies from its register over prolonged inactivity and non-compliance with statutory requirements under the Companies and Allied Matters Act (CAMA) 2020.

The move forms part of the Commission’s broader effort to sanitise Nigeria’s corporate registry and ensure that only active and compliant entities remain in the system.

It also aligns with ongoing efforts to enhance transparency in company ownership and governance in line with anti-money laundering standards.

A public notice issued by the Commission stated that the affected companies have been identified as either not carrying on business, been inactive for at least 10 years, or failed to meet regulatory obligations, particularly the annual filing of returns and disclosure of Persons with Significant Control (PSC).

The CAC has given a 90-day window from the date of publication for these companies to regularise their status.

However, to avoid being struck off, affected companies must promptly file all outstanding annual returns and send activation emails to activation@cac.gov.ng where applicable.

“It shall be unlawful for any company struck off the Register of Companies to continue carrying on business unless it is restored by an order of the Federal High Court,” the notice emphasised.

The Commission emphasised that it invoked its powers under Section 692 (4) of CAMA 2020 to strike off companies that failed or refused to update their annual returns within the stipulated time frame. The delisted companies were deemed dissolved, effective from the date of publication.

CHANNELS TV reports that “Companies stricken off the register are deemed to have been dissolved from the date of publication. It is illegal to enter into any transaction or deal with a company that has been dissolved.” 

Speaking on the development, Mr. Emeka Nwadioke, a senior lawyer and Accredited CAC Agent, said: “This is not the first time CAC is issuing such statutory notice. I recall that the Commission issued a similar notice in July 2024, declaring its intention to delist companies that were not carrying out business or were otherwise dormant by reason of not filing Annual Returns for a period of 10 years.

“The Commission, in November 2024 and pursuant to the powers granted to it in Section 692 (4) of the Companies and Allied Matters Act No. 3 of 2020, in fact struck off over 80,000 companies that failed to update their Annual returns.

“The legal effect of a striking off is that such companies are deemed to have been dissolved from the date of publication of their names by CAC, while it is illegal to enter into any transaction or deal with any company that has been so dissolved.”

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