CAC strikes off defaulters from register

The Corporate Affairs Commission (CAC) has announced the removal of companies that failed or refused to update their annual returns from its register.

According to a statement shared on the Commission’s X (formerly Twitter) handle on Wednesday, the affected companies are considered dissolved from the date of publication. The detailed list of these companies is available on the Commission’s website.

The CAC recalled that it had previously issued a notice of intent to strike off companies it believed were no longer operational. The notice targeted companies that had failed to file annual returns for at least 10 years, suggesting they were either dormant or no longer in business.

“The general public may recall that the Commission issued a Notice of Intention to strike off the names of companies reasonably believed to be non-operational or dormant due to failure to file annual returns for a period of 10 years,” the statement noted.

It added that a 90-day statutory grace period was given for the companies to file their returns and send an activation email to the designated address (activation@cac.gov.ng). Companies that complied have been removed from the strike-off list.

However, those that did not comply have now been removed from the register, in line with the powers granted under Section 692 (4) of the Companies and Allied Matters Act No. 3 of 2020.

The Commission further warned that it is illegal to engage in any transactions or business dealings with companies that have been dissolved.