CAC to delist 100,000 dormant companies, gives 90-Day ultimatum

The Corporate Affairs Commission (CAC) has announced plans to delist about 100,000 companies from its register due to prolonged inactivity and failure to meet statutory obligations under the Companies and Allied Matters Act (CAMA).

This decision is part of CAC’s broader effort to clean up Nigeria’s corporate records and ensure that only active, law-abiding businesses are retained.

It also supports ongoing moves to boost transparency in corporate ownership and governance, in line with global anti-money laundering frameworks.

According to a public notice from the Commission, the affected companies have either failed to carry on business, remained inactive for over a decade, or defaulted on mandatory requirements such as annual return filings and the disclosure of Persons with Significant Control (PSC).

The CAC has given these companies a 90-day deadline from the date of the publication to regularise their records.

To avoid being struck off the register, companies are required to file all overdue annual returns and, where necessary, send activation emails to [email protected].

“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 Commission stated.

The CAC reminded the public that it had issued a similar notice in July 2024, and by November of the same year, several companies were delisted for non-compliance. Those companies were considered dissolved from the date of publication.

Quoting Section 692(4) of CAMA 2020, the Commission reiterated its authority to remove dormant entities from its register. It added, “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.”

The Commission urged affected companies to act within the grace period to avoid the legal and operational implications of being delisted.