CAC Moves to Deregister 100,000 Inactive Companies in Compliance Drive
The Corporate Affairs Commission has issued a 90-day compliance notice to 100,000 inactive and non-compliant companies, warning of imminent deregistration unless they regularize their status.
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The Corporate Affairs Commission (CAC) has initiated a major deregistration campaign, issuing a 90-day compliance notice to 100,000 companies that have failed to meet statutory obligations. The move is part of an ongoing effort to clean Nigeria’s corporate registry of inactive and non-compliant entities, according to a report by Business Day.
Companies affected by the notice are required to either file outstanding annual returns, update their corporate information, or object to the proposed strike-off within the 90-day window. Failure to respond will result in permanent removal from the register, the commission warned. The CAC has previously conducted similar clean-up exercises, but this latest action targets a significantly larger number of dormant firms.
As reported by Pulse Nigeria, the deregistration process aims to enhance transparency and improve the integrity of Nigeria’s business environment. The commission has urged company directors and stakeholders to verify their compliance status through the CAC’s public portal to determine if their firms are on the list. The notice also serves as a warning to shell companies and entities operating without proper regulatory oversight.
The CAC has emphasized that compliance is mandatory under the Companies and Allied Matters Act (CAMA), which requires all registered firms to file annual returns and maintain updated records. The current enforcement wave underscores the regulator’s broader push to strengthen corporate accountability and support economic governance reforms. Financial and legal advisors have advised affected businesses to act promptly to avoid the legal and operational consequences of deregistration.