Corporate Affairs Commission to Delist Over 91,000 Companies Over Infractions

The Corporate Affairs Commission, CAC is set to delist 91,843 companies for failing to file their annual returns with it.

In a list published on its website, the commission listed 91,843 companies for delisting (2,738 less than the 94,581 it initially published in August).

This is still less than the initial 100,000 companies that CAC said it would remove in an earlier announcement.

In July, the Registrar-General and Chief Executive Officer, CAC, Garba Abubakar, revealed that the commission would delete 100,000 registered companies from its database for failing to file an annual return.

He explained that the CAC steps up enforcement of 100,000 companies to go off its register for failure to file an annual return.

At the time, Abubakar announced that the commission would send notice of striking off to the affected companies before embarking on the action as enshrined in section 692 of the CAMA, 2020.

In an update on December 5, the CAC said, “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 notified 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 were 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.