CAC issues 90-day ultimatum for company delisting over non-compliance

CAC company delisting warning targets 100,000 firms inactive for 10+ years. Businesses must comply within 90 days or face deregistration under CAMA 2020

CAC company delisting efforts have intensified as the Corporate Affairs Commission (CAC) issued a 90-day deadline to 100,000 companies at risk of removal from its official register.

Also read: CAC issues six week ultimatum for unregistered businesses to register

In a public notice, the CAC warned that the affected companies had failed to meet critical statutory obligations under the Companies and Allied Matters Act (CAMA) 2020.

This includes prolonged inactivity, non-filing of annual returns, and failure to disclose Persons with Significant Control (PSC).

The Commission stated this sweeping action aims to sanitize Nigeria’s corporate registry, enhance compliance, and align with global anti-money laundering standards.

Firms that do not comply within the 90-day window will be struck off the register, rendering any further operation illegal unless reversed by a Federal High Court order.

To avoid delisting, companies must regularize their records by submitting outstanding returns and contacting the CAC via activation@cac.gov.ng.