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.

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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.

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