Brief: CAC To Delist 100,000 Dormant Companies, Issues 90-Day Ultimatum.
The Corporate Affairs Commission (CAC) has announced plans to delist 100,000 companies over prolonged inactivity and failure to meet statutory obligations under the Companies and Allied Matters Act (CAMA) 2020.
According to a public notice, affected companies have either not operated for at least a decade or failed to file annual returns and disclose Persons with Significant Control (PSC). CAC has given a 90-day deadline to comply or face delisting.
The commission says the cleanup aims to promote corporate transparency and compliance, aligning with anti-money laundering regulations. Companies struck off the register will be deemed dissolved and barred from operating unless restored by court order.
#CAC #CorporateAffairsCommission #CAMA2020 #NigeriaBusiness #DormantCompanies
The Corporate Affairs Commission (CAC) has announced plans to delist 100,000 companies over prolonged inactivity and failure to meet statutory obligations under the Companies and Allied Matters Act (CAMA) 2020.
According to a public notice, affected companies have either not operated for at least a decade or failed to file annual returns and disclose Persons with Significant Control (PSC). CAC has given a 90-day deadline to comply or face delisting.
The commission says the cleanup aims to promote corporate transparency and compliance, aligning with anti-money laundering regulations. Companies struck off the register will be deemed dissolved and barred from operating unless restored by court order.
#CAC #CorporateAffairsCommission #CAMA2020 #NigeriaBusiness #DormantCompanies
Brief: CAC To Delist 100,000 Dormant Companies, Issues 90-Day Ultimatum.
The Corporate Affairs Commission (CAC) has announced plans to delist 100,000 companies over prolonged inactivity and failure to meet statutory obligations under the Companies and Allied Matters Act (CAMA) 2020.
According to a public notice, affected companies have either not operated for at least a decade or failed to file annual returns and disclose Persons with Significant Control (PSC). CAC has given a 90-day deadline to comply or face delisting.
The commission says the cleanup aims to promote corporate transparency and compliance, aligning with anti-money laundering regulations. Companies struck off the register will be deemed dissolved and barred from operating unless restored by court order.
#CAC #CorporateAffairsCommission #CAMA2020 #NigeriaBusiness #DormantCompanies
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