CAC grants over 90,000 dormant companies 90 days to file returns or face delisting

….to delist Chisco Transport, others

The Corporate Affairs Commission (CAC) has given over 90,000 dormant companies a 90-day grace period to file all their outstanding annual returns or risk being delisted from its register.

These affected companies are those that have not filed annual returns for ten years. This was published on the commission’s X account on Wednesday. Companies to be deleted were published on the company’s website.

The commission also noted that it is illegal to carry on business with the name of a company that has been delisted from the register as such a company is deemed to be dissolved.

“NOTICE OF INTENTION TO STRIKE OFF COMPANIES FROM THE REGISTER

This is to inform the General Public that the Commission under its powers contained in Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020, intends to strike off from the Register, names of defunct or dormant companies that have not filed Annual Returns for 10 years.

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 [email protected] to remove their names from the list.

It is to be noted that it is illegal to carry on business with the name of a company that has been delisted from the register as such a company is deemed to be dissolved.

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 [email protected] to remove the name from the list.

It is to be noted that it is illegal to carry on business with the name of a company that has been delisted from the register as such a company is deemed to be dissolved. View the list by clicking the link below”.

https://www.cac.gov.ng/wp-content/uploads/2024/07/AR-DEFAULT-JUL-16-2024-1.csv

An annual return is a yearly payment every registered company or Non-Governmental Organization (NGO) is required to make to the CAC irrespective of the state of its business transactions.

Recall that in December, the CAC had disclosed its intention to delist 91,843 companies from its register for failing to file their annual returns.

“Further to its earlier notice of the commencement of striking off the names of Companies from the Register of Companies and published on August 2, 2023, the Commission hereby notifies the General Public that the list of Companies that have failed to comply with the provisions of the Companies and Allied Matters Act 2020, to file up-to-date annual returns is now ready for publication by the provisions of Section 692 of the Act.

“Companies who filed complete annual returns in response to the earlier publication are advised to confirm removal from the list of Companies to be struck off. The updated list for publication is available on the Commission’s website.”

The CAC stated that any business that filed full annual returns but is still on the list should email [email protected] within 30 days with proof that it did file.

It also clarified that a company whose name has been removed from the register of companies cannot conduct business until the Federal High Court orders that its name be added back to the register.