The Corporate Affairs Commission (CAC) has initiated a process to remove 100,000 businesses from its official registry due to their failure to submit required financial returns. This action follows a public notice issued by the agency on Wednesday, citing non-compliance with annual filing obligations and other necessary documentation.
This enforcement follows the legal framework established under sections 692 (3) and (4) of the Companies and Allied Matters Act (CAMA) 2020. The CAC has published the full list of impacted entities on its official website, http://cac.gov.ng, and urges these businesses to rectify their status within 90 days.
Affected companies must file all overdue annual returns, including beneficial ownership and persons with significant control information, to avoid permanent deletion from the register. Organizations are required to submit proof of their compliance via the designated email address provided by the Commission. The CAC reiterated that this remains a final chance for these businesses to maintain their registration, following a previous warning period for firms to update their records.
