The Corporate Affairs Commission (CAC) has started another nationwide compliance exercise that could lead to the removal of about 100,000 companies from Nigeria’s official business register.
According to a public notice released by the commission, the affected companies have failed to meet important legal requirements, including filing their annual returns and submitting information about their beneficial owners, also known as Persons with Significant Control (PSC).
The commission said the enforcement is being carried out under the Companies and Allied Matters Act (CAMA) 2020. It explained that all affected companies have been given 90 days to update their records and meet their legal obligations.
The CAC has already published the names of the affected companies on its official website. Businesses that complete the required filings within the deadline are expected to send proof of compliance through the commission’s designated email address.
The commission warned that any company that fails to comply within the 90-day period will be removed from the companies register without any further notice.
According to the CAC, the exercise is part of its ongoing effort to ensure that only active and law-abiding businesses remain on Nigeria’s corporate register. The commission believes that maintaining accurate business records will improve transparency, strengthen investor confidence, and create a more reliable business environment.
This is not the first time the commission has taken such action. Earlier this year, the CAC announced plans to remove another 100,000 companies that failed to meet their statutory obligations. In 2025, the commission also deregistered more than 400,000 inactive companies as part of a major clean-up of Nigeria’s corporate database.
The commission explained that every registered company in Nigeria is legally required to file annual returns to confirm that it is still operating and complying with the law. These returns help the government maintain accurate information about businesses across the country.
Under the law, incorporated companies must submit their annual returns within 42 days after each anniversary of their registration. Registered business names are also expected to file their returns every year before June 30.
Companies that fail to meet these deadlines may be required to pay late filing penalties in addition to the normal filing fees. Continued failure to comply can eventually result in the company being removed from the official register.
The CAC also stressed the importance of providing beneficial ownership information. This requirement is part of Nigeria’s efforts to improve corporate transparency, fight money laundering, prevent financial crimes, and meet international standards on business ownership disclosure.
Business owners are therefore encouraged to check whether their companies are among those listed and quickly regularise their records before the deadline expires.
The commission reaffirmed its commitment to providing efficient services while ensuring that businesses operating in Nigeria follow the country’s corporate laws. It added that the ongoing compliance exercise is aimed at building a stronger, more transparent, and more trustworthy business environment for investors and the public.
