The Corporate Affairs Commission (CAC) has commenced another round of removing inactive and non-compliant companies from Nigeria’s register of incorporated businesses, targeting 100,000 companies in the latest exercise.

The commission, in a public notice issued on Wednesday, July 15 said the action is being carried out in accordance with Sections 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.

According to the notice, the list of the affected companies has been published on the commission’s official website, while the affected entities have been given 90 days to regularise their status or risk being struck off the register.

READ ALSO: CAC To Begin Sanctions Over Non-Compliant Company Business Letters August 1

The CAC directed the affected companies to file all outstanding Annual Returns, including Persons with Significant Control (PSC) and Beneficial Ownership information, within the stipulated period.

“The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) and regularize their records within ninety (90) days of this notice,” the commission said.

It added that evidence of compliance should be forwarded to the commission through its designated email address for struck-off companies.

The commission warned that companies that fail to meet the deadline would be removed from the register without any further notification.

“Please note that companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice,” the statement added.

The CAC also reaffirmed its commitment to improving service delivery, saying, “The Commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers.”

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