The Corporate Affairs Commission (CAC) has commenced the process of striking off 100,000 companies from Nigeria’s corporate register over their failure to comply with statutory filing obligations.
The exercise, announced in a public notice issued on Wednesday, is in line with Sections 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020, which empowers the Commission to remove companies that fail to meet regulatory requirements.
According to the Commission, the affected companies have failed to file their annual returns and other mandatory statutory documents, including information on Persons with Significant Control (PSC), also known as Beneficial Ownership information.
The CAC said the names of the affected companies have been published on its official website and urged them to take immediate steps to regularise their records.
“The affected companies are hereby advised to file all outstanding Annual Returns, including Persons with Significant Control/Beneficial Ownership information, and regularise their records within 90 days of this notice,” the Commission stated.
No Second Chance for Defaulters
The Commission directed affected companies to submit evidence of compliance through its designated email address within the stipulated period.
It warned that companies that fail to comply within the 90-day window would be struck off the register without further notice, stressing that no additional extension would be granted.
The CAC reiterated its commitment to maintaining an accurate and credible corporate register while delivering efficient services to businesses operating in Nigeria.
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The latest action follows an earlier directive by the Commission giving defaulting companies 90 days to regularise their records or face deregistration.
Industry observers say the exercise is aimed at improving corporate governance, strengthening transparency in business ownership and ensuring that only compliant companies remain on Nigeria’s official register.
Companies seeking to verify their status can access the full list of affected entities on the Corporate Affairs Commission’s website.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.