The Corporate Affairs Commission has commenced another round of enforcement against non-compliant companies, placing about 100,000 firms at risk of being struck off Nigeria’s companies register for failing to meet statutory filing obligations.
The commission announced the exercise in a public notice posted on its official Facebook page on Thursday, stating that the action was being undertaken under the provisions of Section 692(3) and (4) of the Companies and Allied Matters Act, 2020.
The affected companies have been given 90 days to regularise their records by filing all outstanding annual returns and submitting information on Persons with Significant Control, also known as beneficial ownership information.
According to the commission, the names of the affected companies have already been published on its official website, while firms that comply with the directive are expected to forward evidence of compliance to the Commission through its designated email address.
In the notice signed by its management, the CAC warned that companies that fail to meet the deadline would be removed from the register without any further communication.
The notice read, “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.
“The list of the affected 100,000 companies can be accessed on the Commission’s website. The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and, by extension, Persons with Significant Control/Beneficial Ownership information) and regularise their records within ninety (90) days of this notice. Evidence of compliance should be sent to the designated email address.
