CAC Issues 90-Day Deadline Before Delisting 1,018 Dormant Companies

The Corporate Affairs Commission (CAC) of Nigeria has announced a 90-day ultimatum for over 1,018 dormant companies to file their outstanding annual returns. Failure to do so will result in these companies being delisted from the CAC register.

This notice affects companies that have not submitted annual returns for the past ten years. The CAC’s statement, published on its website, cites Section 692 of the Companies and Allied Matters Act No. 3 of 2020, which mandates removing defunct companies from the register.

A full list is published on the Commission’s website, www.cac.gov.ng. These companies are given 90 days from the date of this publication to file all outstanding Annual Returns and send an email of this fact to activation@cac.gov.ng to remove their names from the list, the agency warned.

Affected companies must file their returns and notify the CAC via email to avoid delisting. The commission emphasised that it is illegal to conduct business under the name of a company removed from the register, as such companies are considered dissolved.

Among the companies at risk are notable names like Chisco Transport, Zenon Petroleum, and Atlantic Solutions. A complete list of the companies can be found on the CAC website.

Read Also: Meta Removes 63,000 Nigerian Instagram Accounts Over Sextortion Scams Days After FCCPC Fined It $220m For Discriminatory Practices

• Another Building Collapses in Lagos, Kills At Least Three Site Workers 
• Food Prices Soar By Over 200 Per Cent In 1 Year, NBS Reports

About The Author

Confidence Ubani

author

See author's posts