CAC has planned to delist 100,000 dormant companies from its register, giving them a 90-day grace period to comply with filing obligations or face removal.
In a statement released by the CAC, companies that fail to meet statutory annual filings within 90 days will be struck off the corporate register.
According to the Registrar-General Hussaini Ishaq Magaji, the decision aims to sanitize the register and uphold integrity in the Nigerian business environment.
“This is in line with our mandate under the Companies and Allied Matters Act to maintain a credible database,” Magaji was quoted as saying.
The commission noted that despite several prior notices, many entities remain non-compliant with basic corporate governance and reporting standards.
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For transparency, the names of affected companies will be published publicly before final delisting, ensuring a fair opportunity for redress or reactivation.
Observers believe this move will improve regulatory oversight, eliminate shell entities, and promote active corporate accountability within the private sector.
This development was confirmed in a source document published on Nairametrics on July 29, 2025, quoting the CAC’s official position.
The exercise also signals a shift toward digitized monitoring and enforcement, with the commission leveraging technology for data validation and compliance checks.
Non-compliant companies are advised to update their status via the CAC’s portal, which now supports e-filing for financial returns and board updates.
Experts suggest that such regulatory actions will help curb financial crimes, boost investor confidence, and enhance Nigeria’s global ease of doing business index.
While welcomed by stakeholders, the action places responsibility on company directors to proactively maintain filing discipline and uphold statutory duties.
This 90-day compliance window is deemed final, after which the delisting process will proceed without further notice or extension, officials emphasized.
