By Benson Daniel
No fewer than 100,000 companies operating in Nigeria risk being struck off the Corporate Affairs Commission (CAC) register as the commission intensifies efforts to enforce compliance with statutory filing and regulatory requirements.
The move follows the expiration of the grace period granted to defaulting companies to regularise their records after the commission issued a public notice warning that firms failing to meet their obligations under the Companies and Allied Matters Act (CAMA) would face delisting.
The CAC said many affected companies have remained inactive or failed to file annual returns and other mandatory documents for several years, a violation that undermines transparency and corporate governance within Nigeria’s business environment.
According to the commission, removing non-compliant companies from its register is aimed at maintaining an accurate corporate database, strengthening regulatory oversight and improving investor confidence. It added that the exercise would also help eliminate dormant and defunct entities that no longer conduct legitimate business activities.
Companies affected by the exercise still have an opportunity to restore their legal status by fulfilling outstanding compliance obligations, including the filing of annual returns and payment of applicable penalties before final enforcement measures are concluded.
Industry experts believe the action will promote greater accountability and encourage businesses to comply with regulatory standards, while creating a more transparent corporate landscape capable of attracting local and foreign investment.
The compliance drive forms part of broader reforms by the Corporate Affairs Commission to modernise business registration processes, strengthen corporate governance and ensure that only active and law-abiding companies remain on Nigeria’s official corporate register.
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