Business
FULL LIST: CAC to Delist 100,000 “Ghost Companies’ Over Non-Compliance
The Corporate Affairs Commission (CAC) will delist 100,000 dormant companies that have failed to file annual returns for over 10 years.
The Corporate Affairs Commission (CAC) has announced plans to delist 100,000 dormant companies from Nigeria’s registry for failing to file annual returns for over a decade.
In a public notice on its website, the commission said the affected entities have 90 days to comply before their names are permanently struck off, citing Section 692 (3) and (4) of the Companies and Allied Matters Act (CAMA) 2020.
Companies that have remained inactive or non-operational for at least 10 years are on the list, which is now available on the CAC portal. Once delisted, the law deems such entities dissolved, and any continued business operations would be illegal. Restoration will only be possible through an order of the Federal High Court.
DON’T MISS: ‘Rice Is No Longer a Luxury, Tinubu Policies Has Made It Cheaper for Nigerians’ – Presidency
This crackdown follows a 2024 clean-up in which over 80,000 companies were delisted, with only about 5,000 meeting the 90-day compliance deadline. CAC Registrar-General Garba Abubakar noted that nearly 90% of registered companies in Nigeria are dormant, stressing the need to remove “ghost companies” and improve the country’s corporate data integrity.
The commission urged affected companies to review the list and submit their returns promptly. Firms that believe they were wrongly listed can contest their status by providing proof of compliance.
CAC also reminded businesses of the need to update ownership records and comply with Persons with Significant Control (PSC) disclosure requirements as part of its broader corporate governance and anti-money laundering reforms.
By delisting non-compliant firms, the commission aims to strengthen transparency, accountability, and credibility in Nigeria’s business environment.
Nnamdi Kanu Files Appeal Against Terrorism Conviction, Cites Due Process and Evidence Gaps
IPOB leader Nnamdi Kanu has filed an appeal against his terrorism conviction and life sentences....
Why It Is Dangerous to Get Bitten by a Snake in Nigeria
Health experts warn that snakebites remain a dangerous but neglected health threat in Nigeria, citing poor access to antivenom, difficulties...
Sit-at-Home Shuts Down Anambra as 85% Compliance Reported Across State
Anambra State experienced widespread disruption on Monday as businesses, schools and offices shut down during a sit-at-home...
DSS Arraigns Ex-AGF Malami, Son Over Terrorism Financing and Firearms Charges
Former Attorney-General of the Federation, Abubakar Malami (SAN), and his son have been arraigned by the DSS before a Federal...
Nigeria’s Economic Reforms Are Irreversible – Tinubu Tells World Bank
President Bola Tinubu has said Nigeria’s economic reforms are irreversible, as the World Bank commended the country’s consistency...
BREAKING: U.S. Deploys Military Team to Nigeria after Recent Attack
The United States has deployed a small team of military officers to Nigeria to strengthen security cooperation...
BREAKING: Lagos Bans Installation of Eze Ndigbo, Seriki, Threatens Arrest and Prosecution
The Lagos State Government has warned that anyone assuming chieftaincy titles without official approval will face arrest and prosecution.
IPOB Raises Concerns Over Conflicting Reports on Onitsha Sit-at-Home
IPOB has accused authorities of spreading propaganda over the sit-at-home observed in Onitsha and across the South-East.
IPOB Reports Total Compliance With Sit-at-Home Across South-East
IPOB says Monday’s sit-at-home recorded widespread compliance across the South-East, with businesses and public activities largely shut in solidarity with...
Signs a Snake May Already Be Around Your House
Snakes may stay hidden, but they rarely go unnoticed for long. Paying attention to these signs can help you act...
You must be logged in to post a comment Login