CAC to Deregister 100,000 Companies for Non-Compliance

The Corporate Affairs Commission (CAC) of Nigeria has commenced a process to strike off 100,000 companies from its register due to their failure to file outstanding annual returns, as mandated by statutory requirements. This action is being carried out under the provisions of Section 692(3) and (4) of the Companies and Allied Matters Act 2020.

The CAC has issued a public notice, urging affected companies to regularize their records within 90 days from the date of the notice. Companies are advised to file their outstanding annual returns and provide evidence of compliance to a designated email address.

The CAC has warned that companies failing to comply within the stipulated timeline will be struck off the register without further notice. The commission remains committed to providing efficient service to its customers and encourages business owners to visit its website for the list of affected companies.