By Glam & Essence
The Corporate Affairs Commission (CAC) has announced its plans to delist 100,000 companies from its register over prolonged inactivity and non-compliance with statutory requirements under the Companies and Allied Matters Act (CAMA).
A public notice issued by the Commission said the affected companies have been identified as either not carrying on business, inactive for at least 10 years, or failing to meet regulatory obligations, particularly the annual filing of returns and disclosure of Persons with Significant Control (PSC).
However, to avoid being struck off, affected companies must promptly file all outstanding annual returns and send activation emails to activation@cac. gov.ng where applicable.
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