The Corporate Affairs Commission, CAC, has mandated over 91,000 dormant companies in the country to file all their outstanding returns within 90-days or risk being deregistered.
The Commission made the disclosure in a statement released on its official website on Wednesday.
The statement read, “This is to inform the general public that the Commission, under 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 10 years.
“These companies are given 90 days from the date of this publication to file all outstanding annual returns. And to send an email of this fact to activation@cac.gov.ng to remove their names from the list.”
CAC, therefore, urged stakeholders to note that it is illegal to carry on business with the name of a company that has been delisted from the register. “As such a company is deemed to be dissolved,” the Commission warned.
ISUIKWUATO VOICE recalls that last December, CAC announced its intention to deregister 91,843 companies. This was over failure to file their annual returns.
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