CAC TO DELIST 100,000 COMPANIES OVER FAILURE TO FILE ANNUAL RETURS
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By; Sunmola Ganiyat
The Corporate Affairs Commission (CAC) has begun the process of removing 100,000 companies from its register for failing to file their outstanding annual returns and other statutory documents.
The Commission announced the development in a public notice issued on Wednesday and signed by its management, stating that the exercise is being conducted under Section 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
According to the notice, the affected companies have been listed on the Commission’s official website and are expected to regularise their records within 90 days.
The CAC urged the affected firms to file all outstanding annual returns, including information on Persons with Significant Control (PSC) or Beneficial Ownership, within the stipulated period.
The Commission also directed companies that comply with the requirements to send evidence of their compliance to struckoffcompanies@cac.gov.ng for verification.
It warned that companies that fail to meet the deadline would be removed from the register without any further notice.
The CAC reaffirmed its commitment to delivering efficient and transparent services while ensuring compliance with the provisions of the Companies and Allied Matters Act.
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