Saturday, February 24, 2024

CAC To Delist Over 91000 Companies For Infractions

The Corporate Affairs Commission (CAC) is set to delist 91,843 companies from its register for failing to file their annual returns with it.

The commission presented the names of 91,843 companies for delisting in a list published on its website.

This is 2,738 less than the 94,581 names of companies it initially published in August.

It is also less than the initial 100,000 companies CAC said it would remove in an earlier announcement.

In July, the Registrar-General and Chief Executive Officer, of CAC, Garba Abubakar, revealed that the commission would delete 100,000 registered companies from its database for failing to file an annual return.

At the time, Abubakar announced that the commission would send notice of striking off to the affected companies before embarking on the action as enshrined in section 692 of the CAMA, 2020.

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In an update on December 5, CAC said, “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.”

It noted that any company that filed complete annual returns but still has its name on the list should send a mail with evidence of filing to no later within 30 days.

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