CAC to Delist 100,000 Dormant Companies, Issues 90-Day Compliance Ultimatum

The Corporate Affairs Commission (CAC) has announced plans to delist 100,000 inactive companies from Nigeria’s corporate registry over prolonged non-compliance with statutory obligations, in a move aimed at sanitising the business environment.

In a public notice issued on Monday, the Commission said the affected companies had either ceased operations, remained dormant for over a decade, or failed to file their annual returns and disclose Persons with Significant Control (PSC) as required under the Companies and Allied Matters Act (CAMA) 2020.

The CAC has granted a 90-day grace period for the defaulting entities to regularise their filings and send activation emails to activation@cac.gov.ng, failing which their names will be officially struck off the register.

“It shall be unlawful for any company struck off the Register of Companies to continue carrying on business unless it is restored by an order of the Federal High Court,” the Commission warned.

The regulatory move aligns with Nigeria’s anti-money laundering reforms and efforts to improve corporate transparency and governance.

This is not the first time the CAC has taken such action. A similar cleanup was carried out in 2023, when companies that failed to respond to a delisting notice were removed from the register.

The Commission invoked its powers under Section 692(4) of CAMA 2020, stressing that any delisted company would be considered legally dissolved from the date of publication and must not engage in further business transactions unless restored by the courts.

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