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By Chinwendu Obienyi
The Corporate Affairs Commission (CAC) has announced plans to strike off 100,000 companies from its register for prolonged inactivity and failure to comply 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 either no longer carrying on business, inactive for at least 10 years, or having failed to meet regulatory requirements—particularly the mandatory filing of annual returns and the disclosure of Persons with Significant Control (PSC).
To avoid being struck off, companies have been given a 90-day window from the date of publication to regularise their status. This includes filing all outstanding annual returns and, where applicable, sending activation emails to [email protected].
The CAC stated that any company struck off the Register of Companies will be deemed dissolved and barred from operating unless restored through an order of the Federal High Court. “It shall be unlawful for any company struck off the Register to continue carrying on business,” the notice warned.
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This exercise is part of the Commission’s broader efforts to clean up Nigeria’s corporate registry and ensure only active, law-abiding entities remain on record. It also aligns with national and international initiatives to promote corporate transparency and combat illicit financial flows in accordance with anti-money laundering (AML) standards.
The CAC had previously issued a similar notice in July 2024 and subsequently delisted several companies in November of that year for failing to take corrective action.
Under the provisions of CAMA 2020, particularly Section 692 (4), the CAC has the authority to strike off companies that default on annual filings over a prolonged period. Companies are required to file annual returns within 42 days after each incorporation anniversary, while business names must file returns before June 30 annually. Failure to comply attracts penalties and the risk of deregistration.
The Commission has urged members of the public to refrain from conducting transactions with companies that have been dissolved, warning that such engagements are illegal and unenforceable under Nigerian law.
