Key points
- The Corporate Affairs Commission (CAC) has commenced the process of striking off 100,000 companies from its register over regulatory non-compliance.
- Affected companies have been given 90 days to file outstanding Annual Returns and disclose their Persons with Significant Control (PSC), also known as Beneficial Ownership information.
- Companies that fail to comply within the deadline risk being removed from the register without further notice.
- The exercise is part of the Commission’s efforts to maintain an accurate and credible corporate registry.
Main Story
The Corporate Affairs Commission (CAC) has begun another round of regulatory enforcement that could see 100,000 companies removed from Nigeria’s corporate register over non-compliance with statutory filing obligations.
In a public notice issued on Wednesday, the Commission said the exercise is being conducted in line with Section 692(3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
The CAC directed affected companies to regularise their records within 90 days by filing all outstanding Annual Returns and submitting information on Persons with Significant Control (PSC), commonly referred to as Beneficial Ownership information.
According to the Commission, the list of affected companies has been published on its official website.
It advised companies to submit evidence of compliance through its designated email address after completing the required filings.
The Commission warned that companies which fail to comply within the stipulated period will be struck off the register without further notice.
The Issues
The exercise highlights the importance of regulatory compliance for companies operating in Nigeria.
Annual Returns enable the CAC to maintain an up-to-date corporate register by confirming that registered entities remain active and compliant with legal obligations.
Similarly, Beneficial Ownership disclosures are designed to improve corporate transparency, strengthen anti-money laundering measures and align Nigeria’s corporate governance framework with international standards.
Failure to meet these obligations exposes companies to financial penalties and the risk of deregistration.
What’s Being Said
The CAC said the latest enforcement exercise forms part of its ongoing efforts to maintain an accurate and credible companies register.
According to the Commission, companies that fail to regularise their filings within the 90-day window will be removed from the register.
The Commission also reaffirmed its commitment to delivering efficient registration and regulatory services while ensuring businesses comply with statutory obligations under the Companies and Allied Matters Act.
More Insights
This is the second major compliance exercise announced by the CAC this year.
In February 2026, the Commission similarly announced plans to delist 100,000 companies over prolonged inactivity and failure to comply with statutory filing requirements.
The regulatory drive follows an even larger clean-up in 2025, when the Commission deregistered more than 400,000 companies for prolonged inactivity and persistent non-compliance.
The CAC said the exercise was necessary to remove inactive entities from its database and strengthen confidence in Nigeria’s corporate regulatory framework.
Under the Companies and Allied Matters Act, registered companies are required to file Annual Returns within 42 days after each anniversary of incorporation, while Business Names must file annual returns before 30 June each year.
Late filings attract statutory penalties in addition to annual filing fees.
What’s Next
Affected companies now have 90 days to regularise their records by filing outstanding Annual Returns and submitting Beneficial Ownership information.
Businesses that comply within the deadline will retain their registration, while those that fail to do so risk being struck off the corporate register.
The Commission is also expected to continue periodic compliance reviews as part of broader efforts to improve corporate governance, transparency and the integrity of Nigeria’s business registry.
Bottom Line
The CAC’s latest enforcement exercise signals a continued crackdown on inactive and non-compliant companies. By requiring businesses to update their statutory filings and ownership records, the Commission aims to strengthen transparency, improve the credibility of Nigeria’s corporate register and promote greater compliance with the Companies and Allied Matters Act.
