The Corporate Affairs Commission (CAC) has announced the removal of the names of companies that have failed to file their annual returns for the past 10 years.
Among the companies delisted are Dunlop, Mitsubishi, and several others identified as dormant.
In a statement, the CAC emphasized that the companies in question had not updated their annual reports for a decade, prompting the commission to strike them off the register.
This action follows a warning issued by the CAC more than three months ago to these companies about the potential consequences of non-compliance.
The commission’s notice outlined that companies which did not file their annual returns within the stipulated 90-day period would be struck off.
Companies that complied with the directive were removed from the list, while those failing to update their records were officially delisted.
According to the CAC, the deletion of these companies was carried out under the authority of Section 692 (4) of the Companies and Allied Matters Act No. 3 of 2020.
The full list of delisted companies is available on the CAC website at www.cac.gov.ng.
The commission further clarified that companies removed from the register are considered dissolved from the date of the publication, and any business dealings with such companies are now illegal.
Reports indicate that out of the approximately 100,000 companies initially listed, 80,429 companies, including both inactive and non-compliant ones, have now been struck off the register.
