The Corporate Affairs Commission (CAC) has commenced the process to remove 100,000 companies from its official register over their failure to file annual returns and other mandatory statutory documents. The exercise, identified as Batch 6, is being carried out under the provisions of Sections 692(3) and 692(4) of the Companies and Allied Matters Act (CAMA), 2020.

In a public notice signed by its management on Wednesday, the Commission announced that the affected companies have been published on its official website for public access. According to the notice, the CAC deregisters companies that fail to meet their statutory filing obligations as required by law. The Commission urged company owners and directors to check the published list and take immediate steps to regularise their records.

CAC gave the affected firms 90 days from the date of the notice to file all outstanding annual returns and update their Persons with Significant Control (PSC) or Beneficial Ownership information. The Commission also instructed companies that complete the compliance process to forward proof of compliance to its designated email address, struckoffcompanies@cac.gov.ng, for verification.

The Commission warned that companies which fail to comply within the stipulated period will be struck off the register without any additional notification. It emphasised that the current notice serves as the final opportunity for affected organisations to regularise their status before enforcement actions are concluded.

While announcing the exercise, the Commission reaffirmed its commitment to delivering prompt and efficient services to businesses and other stakeholders. The CAC deregisters companies that remain in breach of statutory filing requirements as part of efforts to maintain an accurate and up-to-date corporate register in line with the Companies and Allied Matters Act, 2020.