BREAKING: CAC Deletes 80,000 Top Companies From Database (FULL LIST)

CAC has deleted 80,000 top companies from the database.

NewsOnline Nigeria reports that the Corporate Affairs Commission (CAC) has officially delisted companies that failed to file their annual returns for the past 10 years from its register.

This Nigeria news platform recalls that the commission had earlier announced, on July 25, plans to remove dormant companies from its database, granting a 90-day grace period for non-compliant entities to take corrective action.

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In a statement issued on Wednesday, the CAC confirmed it has struck off the names of companies that did not update their records despite the notice.

“The general public may recall that the commission issued a notice of intention to strike off names of companies that are believed to be dormant or not conducting business due to their failure to file annual returns for 10 years,” the CAC stated.

The commission emphasized that companies were given a statutory 90-day period to comply by submitting the necessary annual returns and sending an activation email to activation@cac.gov.ng. Those who adhered to the advisory have been retained on the register, while defaulters were delisted.

Acting under its powers granted by Section 692(4) of the Companies and Allied Matters Act No. 3 of 2020, the CAC published the list of dissolved companies on its website (www.cac.gov.ng).

According to The Cable, the delisted companies are considered dissolved as of the date of publication, and the CAC warned that any transaction or deal with such entities is illegal.