CAC plans to remove 100,000 firms for not filing returns
The Corporate Affairs Commission has announced plans to strike off 100,000 companies from its register. The affected companies failed to file their annual returns and other required documents. The Commission has published the list of these companies on its website and urged them to regularise their records within 90 days. Companies that do not comply will be removed from the register without further notice.
What we know
- The Corporate Affairs Commission is taking action against 100,000 companies for not filing annual returns.
- The exercise is being conducted under Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.
- Affected companies can check the list on the Commission’s website and are advised to update their records within 90 days.
- Evidence of compliance should be sent to the designated email address provided by the Commission.
- Companies that fail to comply within the given period will be struck off the register without further notice.
