The Corporate Affairs Commission (CAC) has announced plans to delist over 100,000 dormant companies from Nigeria’s official register, citing prolonged inactivity and failure to comply with statutory obligations outlined in the Companies and Allied Matters Act (CAMA) 2020.
The regulatory crackdown forms part of CAC’s broader initiative to clean up the national corporate database, promote accountability in business operations, and align Nigeria’s compliance framework with global anti-money laundering and corporate transparency standards.
In a public notice released this week, the Commission revealed that the targeted companies have either been inactive for 10 years or more, failed to file annual returns, or neglected to disclose Persons with Significant Control (PSC) as required by law.
Affected entities have been granted a 90-day window from the date of publication to regularise their status, or risk being struck off the register entirely.
“It shall be unlawful for any company struck off the Register of Companies to continue carrying on business unless it is restored by an order of the Federal High Court,” the Commission warned.
To avoid dissolution, companies must file all outstanding annual returns and, where applicable, send activation emails to [email protected]. The Commission invoked its authority under Section 692(4) of CAMA 2020, which empowers it to delist companies deemed inactive or non-compliant after due notice.
This is not the first time the CAC has acted against dormant entities. In July 2023, a similar notice was issued, leading to the delisting of thousands of non-compliant companies by November that year.
Those companies were declared legally dissolved, rendering them ineligible to conduct business unless reactivated by court order.
“It is illegal to enter into any transaction or deal with a company that has been dissolved,” the Commission stated, warning investors and the general public to conduct due diligence through CAC’s verification portals.
This moves underscores Nigeria’s ongoing efforts to strengthen corporate governance, enhance ease of doing business, and improve the accuracy of records used by financial institutions, regulators, and international stakeholders.
By purging the registry of dormant entities, the CAC hopes to restore credibility to its database, while reinforcing compliance with financial crime prevention measures mandated under international agreements
