By Nkechi Eze
In a renewed effort to enforce statutory compliance and sanitize the Nigerian business environment, the Corporate Affairs Commission (CAC) has issued a public notice announcing its intention to strike off the names of companies that have failed to comply with provisions of the Companies and Allied Matters Act (CAMA), 2020. This action, according to the Commission, is in line with Sections 692(3) and (4) of the Act.
The CAC disclosed that it has commenced another round of regulatory enforcement aimed at delisting dormant or non-compliant companies from its official register. The affected companies, the Commission said, have failed to file their Annual Returns and update critical corporate information such as Persons with Significant Control (PSC) or Beneficial Ownership details requirements mandated by the extant law.
According to the notice, the names of the companies scheduled for removal from the register have been published on the Commission’s official website. The CAC is advising companies and the general public to visit the website to verify whether their corporate entities are among those affected.
The Commission issued a stern reminder that companies listed for delisting must, within 90 days from the date of publication of the notice, regularize their filings by bringing their Annual Returns and PSC disclosures up to date. Failure to comply within the stated timeframe will result in the striking off of such companies from the register without further notice.
The implications of being struck off are far-reaching, the Commission warns. Once delisted, a company loses its legal capacity to carry on business in Nigeria and forfeits all rights associated with its corporate identity. “It shall be unlawful for any company struck off the Register to carry on business, having lost right over the entity,” the notice stated.
This latest compliance drive by the CAC is part of broader reforms under CAMA 2020 to improve transparency, corporate governance, and accountability in Nigeria’s business environment. The Commission continues to emphasize the importance of timely filings and full disclosure as essential components of lawful corporate operation in the country.
Stakeholders, legal practitioners, and the business community have been urged to take immediate steps to ensure that their filings are in order, in order to avoid being affected by the ongoing delisting process.
