The Corporate Affairs Commission (CAC) has said that it will delist 91,194 dormant companies for not filing returns.
The commission disclosed this on Wednesday in a statement seen by NewsNGR saying only companies that did not file returns in the last 10 years will be affected.
According to the CAC, the defaulting companies have 90 days from July 24, 2024, to file the returns and regularise with the commission.
The CAC said, “This is to inform the General Public that the Commission pursuant to 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 a period of 10 years.
“These companies are given a period of 90 days from the date of this publication to file all outstanding Annual Returns and send email of this fact to [email protected] so as 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 company is deemed to be dissolved.”
The final list seen by NewsNGR contains 91,194 companies.
Recall that on August 2, 2023, the CAC notice of the commencement of striking off the names of defaulting companies from the register of companies.
“The General Public should note that it is unlawful for any Company whose name has been struck off the Register of Companies to carry on business unless its name is first restored to the Register by an order of the Federal High Court,” CAC said.