Due to violations, CAC will delist more than 91,000 companies.

Over 91,843 companies that have not filed their annual returns with the Corporate Affairs Commission are scheduled to be delisted.

The commission listed 91,843 companies for delisting in a list that was posted on its website (2,738 fewer than the 94,581 it originally published in August). Even so, this is still fewer than the first 100,000 businesses that CAC had earlier declared it would eliminate.

Garba Abubakar, the CAC’s chief executive officer and registrar general, announced in July that the commission would remove 100,000 registered businesses from its database if they neglected to submit an annual return.

He declared, “The CAC is stepping up its enforcement of banning 100,000 companies from its register for not filing an annual return.”

At that time, Abubakar declared that the commission would notify the impacted companies of their impending strike before taking the action specified in section 692 of the CAMA, 2020.

In a December 5 update, the CAC stated: “The list of companies that have not filed current annual returns in accordance with the Companies and Allied Matters Act 2020 provisions is now ready for publication in accordance with the provisions of Section 692 of the Act. This is in addition to the Commission’s earlier notice on August 2, 2023, of the commencement of striking off the names of companies from the Register of Companies.

It is recommended that companies that submitted their complete annual returns in response to the previous publication verify their removal from the list of companies that will be struck off. The website of the Commission has the most recent list that is ready for publication.

Any business that filed complete annual returns but is still listed should email co********@ca*.ng with proof of filing as soon as possible, preferably within 30 days, the notice stated.

It also said that unless the Federal High Court orders the restoration of the company’s name to the register, it is illegal for any business whose name has been removed from the register of companies to continue operating.