After 90 Days, CAC Will Deregister 100,000 Nigerian Companies — Here’s Why

• CAC has launched a fresh compliance exercise that could see 100,000 companies removed from Nigeria’s official register unless they file outstanding annual returns and beneficial ownership information within 90 days.

The Corporate Affairs Commission (CAC) has commenced another nationwide enforcement exercise that could result in the deregistration of about 100,000 companies for failing to meet their statutory filing obligations under the Companies and Allied Matters Act (CAMA), 2020.

In a public notice issued on Thursday, the commission said the affected companies have been given 90 days to regularise their records by filing all outstanding annual returns and submitting their Persons with Significant Control (PSC), also known as beneficial ownership information.

According to the CAC, the names of all affected companies have already been published on its official website, and businesses that comply within the stipulated period are required to forward evidence of compliance through the commission’s designated email address.

The commission warned that any company that fails to meet the deadline will be struck off Nigeria’s companies register without further notice.

“This is to notify the general public and our esteemed customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to Section 692(3) and (4) of the Companies and Allied Matters Act, 2020,” the notice stated.

The CAC explained that the latest exercise is part of its ongoing efforts to sanitize Nigeria’s corporate register by removing inactive companies and businesses that have consistently failed to comply with legal filing requirements.

According to the commission, maintaining an accurate and credible corporate register is essential for improving transparency, strengthening investor confidence, and ensuring that only active and compliant businesses remain on its database.

This is not the first large-scale enforcement exercise by the commission. Earlier this year, the CAC announced plans to remove another 100,000 companies for prolonged inactivity and non-compliance.

In 2025, the commission also deregistered more than 400,000 inactive companies as part of a broader initiative to improve the integrity of Nigeria’s corporate records and align the country’s regulatory framework with international best practices.

Under the Companies and Allied Matters Act, every registered company is legally required to file annual returns to confirm that it remains operational and compliant with regulatory obligations. Incorporated companies must file their annual returns within 42 days after each anniversary of incorporation, while registered business names are expected to submit theirs before June 30 every year.

Failure to comply attracts late filing penalties and may ultimately lead to the company being removed from the official register.

The CAC also reiterated that the requirement to disclose beneficial ownership information forms part of Nigeria’s broader reforms aimed at promoting corporate transparency, combating money laundering, and meeting international disclosure standards.