The Corporate Affairs Commission (CAC) has launched a new nationwide compliance exercise, resulting in the removal of thousands of companies from the corporate register. In its latest drive, the CAC has delisted 100,000 Nigerian companies for failing to meet statutory obligations.
This exercise is part of the Commission’s ongoing effort to ensure that only active and compliant businesses remain on Nigeria’s official register. The latest move follows previous enforcement exercises, including one earlier this year that resulted in the removal of more than 400,000 inactive companies from the register.
Why is CAC Delisting Companies?
According to the Commission, the affected companies have failed to comply with key requirements under the Companies and Allied Matters Act (CAMA), 2020, particularly the filing of mandatory annual returns and the disclosure of Persons with Significant Control (PSC), also known as Beneficial Ownership information.
Under Sections 692(3) and 692(4) of CAMA, the CAC has the authority to strike off companies that fail to meet these legal obligations after issuing the required public notice.
The list of the affected One Hundred Thousand (100,000) companies
The Commission has published the names of the affected companies on its official website and is urging directors and business owners to verify whether their businesses appear on the list.
Rather than immediately removing the companies, CAC has given affected businesses a 90-day grace period to regularize their records before any final action is taken.
What to Do If Your Company Appears in the List Above
If your company appears on this list, here is what to do to avoid being struck off the register: affected companies must:
- File all outstanding annual returns.
- Update their Persons with Significant Control (PSC) or Beneficial Ownership information where applicable.
- Ensure all company records with the Commission are accurate and up to date.
- Submit evidence of compliance to the designated CAC email address within 90 days.
What Happens If My Company Is Delisted?
Businesses that fail to comply before the deadline risk being removed from the CAC register without further notice.
Once a company is struck off, it ceases to exist as a legal entity on the corporate register.
This can create serious challenges for business owners, including difficulties opening or maintaining bank accounts, signing contracts, raising investments, bidding for government or private contracts, accessing loans, and conducting business under a registered corporate identity.
Restoring a struck-off company may also require additional legal and administrative procedures.
Why CAC Is Carrying Out the Exercise
The Commission says the exercise is aimed at maintaining an accurate, transparent, and up-to-date register of companies operating in Nigeria.
By removing dormant and non-compliant businesses, the CAC hopes to improve corporate governance, strengthen transparency around company ownership, and ensure businesses comply with statutory reporting obligations under Nigerian law.
How to Stop Your Business From Being Delisted
If you own a registered company in Nigeria, taking a few proactive steps can help you avoid being removed from the CAC register.
1. Check if Your Company Is on the List
Visit the CAC website and search the Batch Six list to determine whether your company has been marked for strike-off.
2. File Outstanding Annual Returns
Annual returns are mandatory for all registered companies, regardless of whether the business made a profit or actively traded during the year. Filing these returns keeps your company in good standing with the Commission.
3. Update Beneficial Ownership Information
Where applicable, ensure your company has submitted accurate details of its Persons with Significant Control (PSC), as required by law.
4. Correct Any Outstanding Compliance Issues
Review your company’s records and update any outdated information, including changes to directors, registered address, or shareholding structure where necessary.
5. Submit Proof of Compliance
Once all outstanding filings have been completed, send evidence of compliance to the CAC through the designated channel before the 90-day deadline expires.
6. Stay Compliant Going Forward
To avoid future enforcement actions, keep track of your annual filing deadlines and ensure all statutory obligations are completed on time each year.
Mariam Emily Adama is a copywriter, SEO strategist, and digital marketer passionate about using words to inform, inspire, and influence. With over seven years of experience writing for global brands and managing digital campaigns, she brings a data-driven yet creative approach to content creation. When she’s not writing or analyzing trends, Mariam enjoys exploring new cultures, reading, and documenting stories that celebrate African excellence.