By Busola Bamidele
The Corporate Affairs Commission (CAC) has announced it will remove defunct or dormant companies from its register.
According to Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020, companies that have not filed Annual Returns for over ten years will be struck off.
CAC shared this update on their X (formerly Twitter) handle today. A full list of the affected companies is available on the CAC’s website at www.cac.gov.ng.
Companies have 90 days from today to file all overdue Annual Returns and email confirmation of their submission to activation@cac.gov.ng.
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Businesses are warned that operating under the name of a delisted company is illegal, as these entities are deemed dissolved.
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