Unfiled returns: CAC begins moves to deregister 100,000 companies

The Corporate Affairs Commission (CAC) of Nigeria has begun proceedings to strike off 100,000 companies from the register for failing to file annual returns and other statutory documents. The exercise, based on Sections 692(3) and (4) of the Companies and Allied Matters Act (CAMA) 2020, gives affected companies 90 days to regularize their status. The list is available on the CAC website, and defaulting companies will not get a second chance.