100,000 firms risk delisting as CAC enforces compliance

The Corporate Affairs Commission has commenced another round of enforcement against non-compliant companies, placing about 100,000 firms at risk of being struck off Nigeria’s companies register for failing to meet statutory filing obligations.

The commission announced the exercise in a public notice posted on its official Facebook page on Thursday, stating that the action was being undertaken under the provisions of Section 692(3) and (4) of the Companies and Allied Matters Act, 2020.

The affected companies have been given 90 days to regularise their records by filing all outstanding annual returns and submitting information on Persons with Significant Control, also known as beneficial ownership information.

According to the commission, the names of the affected companies have already been published on its official website, while firms that comply with the directive are expected to forward evidence of compliance to the Commission through its designated email address.

In the notice signed by its management, the CAC warned that companies that fail to meet the deadline would be removed from the register without any further communication.

The notice read, “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.

“The list of the affected 100,000 companies can be accessed on the Commission’s website. The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and, by extension, Persons with Significant Control/Beneficial Ownership information) and regularise their records within ninety (90) days of this notice. Evidence of compliance should be sent to the designated email address.

“Please note that companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice. The commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers.”

Related News Summit advocates skills devt for business growth

CAC to deregister 100,000 companies over unfiled returns

Secure Electronic trims H1 loss to N32.17m

The latest enforcement exercise represents another phase of the commission’s drive to sanitise Nigeria’s corporate register by removing inactive companies and entities that have persistently failed to comply with statutory obligations.

The CAC has repeatedly stated that maintaining an accurate and credible register is critical to improving transparency in Nigeria’s corporate environment, strengthening investor confidence, and ensuring that only active and compliant businesses remain on its database.

This is not the first large-scale compliance exercise by the commission. In February this year, the CAC announced plans to strike off another 100,000 companies from its register over prolonged inactivity and failure to comply with the Companies and Allied Matters Act.

The commission also disclosed in 2025 that it deregistered more than 400,000 companies after finding them inactive or persistently in breach of statutory filing requirements. The mass deregistration formed part of broader efforts to clean up the national companies register, improve the integrity of corporate records, and align Nigeria’s regulatory framework with international best practices.

Under the Companies and Allied Matters Act, every registered company is required to file annual returns with the CAC to confirm that it remains operational and compliant with regulatory obligations.

For incorporated companies, annual returns must be filed within 42 days after each anniversary of incorporation, while registered business names are expected to file their annual returns before June 30 every year.

Failure to comply attracts late filing penalties in addition to the prescribed filing fees and could ultimately lead to the company being struck off the register.

The requirement for companies to disclose Persons with Significant Control, also known as beneficial ownership information, is part of Nigeria’s wider reforms aimed at improving corporate transparency, combating money laundering and illicit financial flows, and complying with global beneficial ownership disclosure standards.