Over 90,000 Companies In Nigeria Are About To Face The Chopping Block.

The Corporate Affairs Commission (CAC) has, on the 31st
day of July 2023, announced its intention to commence
striking off companies from its register as a result of the
companies’ non-compliance in handling their annual returns in
accordance with Section 425 of the Companies and Allied
Matters Act (CAMA) 2020.

The CAC has made the notice pursuant to Section 692 (3) and
(4) of CAMA 2020 which empowers the commission to
publicize its intention to strike off defaulting companies from
its register.
The defaulting companies are expected to put their house in
order within 90 days if they intend to continue carrying on
business in Nigeria. Once a company has been struck off, its only
recourse is through the Federal High Court as noted in Section
692(6) of CAMA 2020.
Kindly click on the link below to download the list of companies
affected.

https://www.cac.gov.ng/wpcontent/uploads/2023/07/strikeoff-list-batch-001-July-2023.pdf