The Corporate Affairs Commission (CAC) has announced the removal of the names of over 80,000 companies that failed to file their annual reports for the past 10 years.
This action follows a notice issued in July, which warned companies that had not updated their records for a decade to rectify the situation within a 90-day grace period.
In a statement released on Wednesday, the CAC confirmed that it had struck off companies that had neglected to update their annual returns, despite being given ample time to comply with the commission’s directive.
“The general public may recall that the Commission issued a Notice of Intention to strike off names of Companies which the Commission has reasonable cause to believe are not carrying out business or are otherwise dormant by reason of not filing Annual Returns for a period of 10 years,” the statement read.
The commission had given a statutory period of 90 days for the affected companies to submit the necessary Annual Returns and notify the CAC via email at activation@cac.gov.ng.
Those that complied with the advisory were removed from the list, while the rest were officially struck off.
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According to the CAC, under the powers vested by Section 692 (4) of the Companies and Allied Matters Act No. 3 of 2020, it has now officially dissolved the companies that failed to meet the required standards. The commission added that a detailed list of the dissolved companies has been published on its website at www.cac.gov.ng.
As of the latest update, the commission reported that a total of 80,429 companies were deemed dissolved.
This figure includes 80,423 inactive companies, five companies deemed active, and one company that had not updated its records.
This represents a substantial reduction from the previously listed 100,000 companies.
The CAC further warned that it is illegal to engage in any transactions or dealings with companies that have been officially dissolved. “It is illegal to enter into any transaction or deal with a company that has been dissolved,” the statement emphasized.
Notably, the list of companies struck off includes well-known names such as Alfa Royal Ltd, Jolly Food Industries Ltd, Dantama Biscuits Factory Ltd, Honeycrown Manufacturing Company Ltd, Havila Gold Nigeria Ltd, and Innoson “Vinod” International Ltd, among others.
Other companies removed from the register include:
- Print Express Limited
- Hydeson and Avilson Nig Ltd
- Apapa Sea Stores Limited
- Citigate Limited
- Mutbish Guards Security Company Limited
- Safol Integrated Ventures Limited
- Eko Foods Limited
- Myers Klein & Goldsmith Ltd
- De-Luxe Colour Productions Limited
- Marina Investment Limited
- Dunlop Nigeria Industries Sales Limited
- Mitsubishi Shoji Kaisha Limited
The full list of affected companies can be accessed on the CAC’s official website.
