CAC to remove over 91,000 companies from database over infractions

The Corporate Affairs Commission (CAC) is set to delist 91,843 companies who failed to file their annual returns with it.

The commission on its website, published a list of 91,843 companies for delisting, which was 2,738 less than the 94,581 it initially published in August.

The CAC had before August announced that it would delist 100,000 companies.

The announcement was made in July by the Registrar-General and Chief Executive Officer of the CAC, Garba Abubakar.

Abubakar had revealed that the commission would remove 100,000 registered companies from its database for failing to file an annual return

“CAC steps up enforcement of 100,000 companies to go off its register for failure to file an annual return,” he said.

In another update released on the 5th of December, the CAC said, “Further to its earlier notice of the commencement of striking off the names of Companies from the Register of Companies and published on August 2, 2023, the Commission hereby notifies the General Public that the list of Companies that have failed to comply with the provisions of the Companies and Allied Matters Act 2020, to file up to date annual returns is now ready for publication in accordance with the provisions of Section 692 of the Act.”

“Companies who filed complete annual returns in response to the earlier publication are advised to confirm removal from the list of Companies to be struck off. The updated list for publication is available on the Commission’s website.”

The commission noted that any company that filed the annual returns completely but still has its name on the list should send an email with evidence of filing to [email protected] not later within 30 days.

It stated that it is illegal for any company whose name has been removed from the register of companies to carry on business unless its name is first restored to the register by an order of the Federal High Court.

“The General Public should note further that the striking off of the name of a Company from the Register of Companies is without prejudice to the powers of the Commission to enforce any liability arising under the Act against the directors of the struck off Company,” it added.

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