The Corporate Affairs Commission (CAC) has initiated a process to strike off 100,000 companies from its register due to their non-compliance in filing outstanding annual returns and necessary statutory documents. This action was announced in a public notice signed by the Commission’s management, stating that it falls under the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.

The affected firms can identify if their names are included in the list available on the CAC’s official website, www.cac.gov.ng. The public notice emphasized the gravity of the matter, stating, “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.”

Companies on the list are required to rectify their records within a 90-day timeframe from the notice. They are advised to file all outstanding Annual Returns, along with the Persons with Significant Control/Beneficial Ownership information, to avoid being struck off. Proof of compliance must be submitted to a designated email address: struckoffcompanies@cac.gov.ng.

The notice further cautioned that companies that fail to act within the stipulated period will be removed from the register without further notification, emphasizing that there would be no chance for defaulting companies to rectify their status after this deadline. The Commission maintains its commitment to providing efficient service to its customers, reinforcing its role in ensuring corporate compliance within the sector.