The Corporate Affairs Commission (CAC) has stated that it would delist 91,843 companies from its registry following their failure to file their annual returns as and when due in line with regulatory requirements.
The current list of the affected entities, published on the commission’s website, showed a reduction of 2,738 companies from the initial 94,581 firms published in August this year.
The immediate past Registrar-General, Barr. Garba Abubakar, had announced in July that the agency would erase 100,000 registered companies from its database for failing to complete the filing of their annual returns.
Specifically, he disclosed that the move was part of the commission’s enforcement efforts to delist about 100,000 companies from its register for failure to file an annual returns
To keep owners of the affected firms properly informed, Abubakar announced that the commission would send notice of striking off to the affected companies before embarking on the action as enshrined in section 692 of the CAMA, 2020.
However, in its latest update published on December 5, the commission stated: “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”, it added.
While urging companies that filed complete annual returns but still had its name on the list to send a mail with evidence of filing to compliance@cac.gov.ng not later within 30 days, the commission maintained that it remained unlawful for any company whose name has been struck off 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.
It further clarified: “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”
