The Corporate Affairs Commission (CAC) is intensifying its efforts to clean up Nigeria’s corporate register, launching another major delisting exercise targeting companies that have failed to meet their obligations under the Companies and Allied Matters Act (CAMA) 2020.
In a fresh move just months after a similar action, the Commission has published a new list of companies at risk of being struck off the register. These are mostly firms that have consistently failed to file their annual returns or update their beneficial ownership records as required by law.
90-Day Ultimatum for Compliance
According to the CAC, affected companies have been given a 90-day window to bring their filings up to date. If they fail to comply, they will be delisted and will no longer be recognized as legal entities. Once struck off, it becomes illegal for such companies to continue any form of business operations.
This action is in line with Sections 692 (3) and (4) of the CAMA 2020, which empowers the Commission to remove non-compliant entities from its register.
Push for a Cleaner Corporate Register
This latest round of enforcement follows an earlier delisting drive that kicked off on November 20, 2024. Then, the Commission targeted companies that had failed to file annual returns for up to 10 years. Those who responded within the 90-day grace period were spared.
The CAC says this renewed crackdown is part of its ongoing mission to ensure transparency, corporate accountability, and data integrity across the country’s business environment.
