The Corporate Affairs Commission is set to delist 91,843 companies for failing to file their annual returns with it.

In a list published on its website, the commission listed 91,843 companies for delisting (2,738 less than the 94,581 it initially published in August). This is still less than the initial 100,000 companies that CAC said it would remove in an earlier announcement.

In July, the Registrar-General and Chief Executive Officer, CAC, Garba Abubakar, revealed that the commission would delete 100,000 registered companies from its database for failing to file an annual return.

He said, “CAC steps up enforcement of 100,000 companies to go off its register for failure to file an annual return.”

At the time, Abubakar announced that the commission would send notice of striking off to the affected companies before embarking on the action as enshrined in section 692 of the CAMA, 2020.

In an update on December 5, CAC said, “Further to its earlier notice of the commencement of striking off the names of Companies from the Register of Companies and published on August 2, 2023, the Commission hereby notifies the General Public that the list of Companies that have failed to comply with the provisions of the Companies and Allied Matters Act 2020, to file up to date annual returns is now ready for publication in accordance with the provisions of Section 692 of the Act.

“Companies who filed complete annual returns in response to the earlier publication are advised to confirm removal from the list of Companies to be struck off. The updated list for publication is available on the Commission’s website.”

It noted that any company that filed complete annual returns but still has its name on the list should send a mail with evidence of filing to compliance@cac.gov.ng not later within 30 days.

It further stated that it is unlawful for any company whose name has been struck off the register of companies to carry on business unless its name is first restored to the register by an order of the Federal High Court.

It added, “The General Public should note further that the striking off of the name of a Company from the Register of Companies is without prejudice to the powers of the Commission to enforce any liability arising under the Act against the directors of the struck off Company.”

Source: https://punchng.com/cac-to-delist-over-91000-companies-over-infractions/

I Will Go And File NaíjaCover Company Returns

Don't Forget, NaijaCovêr Bring This UPDATE

After that what's next?

Dear nairaland
It's been two weeks since i was done with my exams and I couldn't raise fund for my TP back home. I will be selling my phone as my last line. Any interested person should check my thread.
Thank you

The people in Nigeria Tax office have seen food to eat. Corruption is too much in this country

.

They want to start again. What is the ease of doing business in Nigeria? What modalities have you put in place to make things easier for business owners? If those companies were actually actively in business, do you think the unemployment rate would be in a state of emergency as it is now? Firstly, address the reason why many companies folding up before focusing on tax collection.

Nah people wey dey sell cream for Instagram plenty there

wunmi590:


Nah people wey dey sell cream for Instagram plenty there

It is companies that are not paying yearly annual return, the bad part is whether companies engaged in any business activities or not for the year or made losses throughout the year, you are expected to pay a certain amount for filing to CAC...

To report their annual stuff to you for embezzelment
Lol

Nigeria and corruption where are the businesses abeg.


Companies on paper.

Ok

Makes sense. Many of these companies are registered just to enjoy the benefits of opening a corporate bank account and carry out fraudulent activities on it. Many are used to launder money for non existent companies. Yahoo boys, baby factories, drug barons, kidnappers, terrorists all have bogus companies registered just so they can open corporate bank accounts and freely move huge amounts all over the place without raising any red flag.


Good development!

Nawa o

Uu

Most small and medium scale businesses which are supposed to be the lifeblood of the economy are struggling now due to the harsh economy and you people think this is the best time to come up with this

Under Tinubu, corruption is normal

madone:
The people in Nigeria Tax office have seen food to eat. Corruption is too much in this country

If you want to criticise, do so with your sense intact.

Where in the world don't they pay tax?

wow



Anyway, Agriculture is life.

Barns Express Deliveries how far?

post=127438834:
I Will Go And File NaíjaCover Company Returns

Don't Forget, NaijaCovêr Bring This UPDATE

is like seun has delisted your website from this platform.

I other news I heard daddy showkey has registered his name on CAC website.

Everything is just crumbling under this government






Some yoruba people eeeh

Ok o

madone:
The people in Nigeria Tax office have seen food to eat. Corruption is too much in this country

The Auditors will mostly benefit from this.

Ok

Brendaniel:


It is companies that are not paying yearly annual return, the bad part is whether companies engaged in any business activities or not for the year or made losses throughout the year, you are expected to pay a certain amount for filing to CAC...

Yes I know, but almost 50% of the people who default are the people in that category I mentioned...

Alot of them quickly rush to open business name, without knowing what it means and their obligation

CAC business solutions.
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Some people just want to open company... that's all