In the coming weeks, the Corporate Affairs Commission (CAC) will delist 91,843 companies for failing to file their annual returns.
A list of 91,843 companies has been published on the commission’s website for delisting, a decrease of 2,738 from the initial 94,581 names published in August and 100,000 announced earlier.
In July, then CAC’s Registrar-General and CEO, Garba Abubakar, announced plans to remove 100,000 registered businesses from its database due to non-filing of annual returns.
Abubakar stated that the commission would notify affected companies of the delisting before taking the necessary action under section 692 of the CAMA, 2020.
The CAC provided an update on December 5th, stating: “Further to its earlier notice of the commencement of striking off the names of Companies from the Register of Companies and published on August 2, 2023, the Commission hereby notifies the General Public that the list of Companies that have failed to comply with the provisions of the Companies and Allied Matters Act 2020, to file up to date annual returns is now ready for publication in accordance with the provisions of Section 692 of the Act.
“Companies who filed complete annual returns in response to the earlier publication are advised to confirm removal from the list of Companies to be struck off. The updated list for publication is available on the Commission’s website.”
The CAC said that any business that filed full annual returns but is still on the list should email [email protected] within 30 days with proof of filing.
It also noted that a company whose name has been taken off the register of companies cannot do business until the Federal High Court orders that its name be added back to the register.