CAC Registration: 6 Steps Every Nigerian Business Must Follow to Avoid Delisting

Nigerian businesses are urged to follow six crucial steps to avoid being delisted by the Corporate Affairs Commission (CAC). The CAC's strike-off of companies means they are legally removed from the register, rendering them non-existent in the eyes of the law.

To prevent setbacks and ensure proper registration, entrepreneurs must adhere to the Companies Allied Matters Act (CAMA) 2020. The first step is to choose two distinct names and confirm their availability on the CAC online portal.

Next, prepare the company's Memorandum of Association, stating business objectives, registered address, share capital, and internal governance rules. Personal details of at least two directors and one shareholder must be provided, along with completing the necessary forms and paying the required fees.

Failure to comply with CAC regulations can lead to delisting, emphasizing the importance of ongoing compliance to keep businesses legally operational.