The Corporate Affairs Commission (CAC) has commenced the process of striking 100,000 companies off its register for failing to file outstanding annual returns and other statutory documents.
In a public notice issued on Wednesday, the Commission said the exercise, tagged Batch 6, is being carried out in line with Section 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
According to the CAC, the list of affected companies has been published on its official website, and the affected firms have 90 days to file all outstanding annual returns, update their Persons with Significant Control (PSC)/Beneficial Ownership information, and regularise their records.
The Commission directed companies that comply within the stipulated period to submit evidence of compliance via its designated email address.
CAC warned that any company that fails to regularise its status within the 90-day window will be struck off the register without further notice.
