The Corporate Affairs Commission (CAC) has started a fresh exercise to remove about 100,000 companies from its official register for failing to meet important legal requirements.
According to the commission, the affected companies did not submit their annual returns and other mandatory documents as required under the Companies and Allied Matters Act (CAMA) 2020. The exercise is part of the commission’s ongoing efforts to ensure that only active and law-abiding businesses remain on its records.
In a public notice released by the CAC management, the commission explained that this latest action is known as Batch 6. It stated that the process is being carried out in line with Sections 692(3) and 692(4) of CAMA 2020, which give the commission the authority to remove companies that fail to comply with statutory obligations.
The CAC also announced that the names of the affected companies have already been published on its official website. This allows business owners and members of the public to check whether any company has been listed for possible removal.
To avoid being struck off the register, the commission has given all affected companies a period of 90 days to update their records. During this period, companies are expected to file all outstanding annual returns and provide information about their Persons with Significant Control (PSC), also known as Beneficial Ownership details.
The commission stressed that submitting these documents is necessary to maintain a company’s legal status and ensure compliance with Nigerian corporate laws.
Businesses that successfully complete the required filings have also been instructed to send proof of compliance to the commission through its designated email address. This will help the CAC verify that all outstanding obligations have been fulfilled before making a final decision on the company’s status.
The commission warned that companies that ignore the notice or fail to meet the deadline will be permanently removed from the official register. It added that no additional notice will be issued after the 90-day period expires.
Being removed from the register means a company may lose its legal recognition and could face difficulties carrying out business activities or accessing certain official services.
The CAC said the exercise is aimed at improving the accuracy of its database while promoting transparency and accountability in Nigeria’s corporate sector. By ensuring that only compliant businesses remain registered, the commission hopes to strengthen confidence in the country’s business environment.
The commission also reassured business owners and the public of its commitment to providing efficient and customer-friendly services. It encouraged affected companies to take advantage of the grace period by updating their records as quickly as possible to avoid being struck off.
The latest exercise highlights the importance of complying with corporate filing requirements and keeping company records up to date. Business owners are therefore advised to regularly meet their legal obligations to avoid penalties and maintain their companies’ active status.
