CAC to Delist 100,000 Dormant Companies, Announces 90-Day Compliance Deadline

The Corporate Affairs Commission (CAC) has disclosed plans to delist 100,000 companies from its official register due to long-standing inactivity and failure to comply with the statutory provisions of the Companies and Allied Matters Act (CAMA).

In a public announcement, the Commission revealed that the affected entities have either remained dormant for at least a decade or have consistently failed to meet regulatory requirements, including the filing of annual returns and disclosure of Persons with Significant Control (PSC).

To avoid removal from the register, companies listed for delisting are required to regularize their filings within a 90-day grace period from the date of publication. Affected businesses must file all outstanding annual returns and, where applicable, send activation requests via email to activation@cac.gov.ng.

The Commission emphasized that companies removed from the register will be considered dissolved, and it will be unlawful for such entities to continue operating unless they are reinstated by a Federal High Court order.

This regulatory measure is part of CAC’s broader initiative to clean up the national corporate database and promote transparency in company ownership and governance, particularly in alignment with global anti-money laundering efforts.

This isn’t the first time the Commission has taken such action. A similar notice issued in July 2024 led to the delisting of several companies by November of the same year. Those companies were removed under Section 692 (4) of CAMA 2020 for failing to comply after being given the statutory 90-day period to file required documents.

The Commission reiterated that it is illegal to carry out any business transactions with companies that have been legally dissolved.

Meanwhile, the CAC also announced an upward review of service fees, set to take effect from August 15, 2025. The decision was attributed to prevailing economic conditions and is part of ongoing reforms to enhance service delivery and sustain operations.