CEM REPORT, BUSINESS | About 94,581 companies registered with the Corporate Affairs Commission (CAC) will be stuck off as registered companies in the country.
According to a statement by the commission the companies did not comply with the provisions of the Companies and Allied Matters Act 2020 from the Register per the requirements of the Act.
The statement posted on the website of the commission titled “Public Notice: Commencement of Striking Off Companies from the Register,” was dated 31 July 2023.
The commission advised listed companies to file their annual returns up to date within 90 days of publication. Companies and the General Public are advised to check the published list for affected companies.
It warned that any company struck off the Register cannot carry on business lawfully unless it is first restored to the Register by an order of the Federal High Court.
Part of the statement reads;
“The affected companies should note that any company that fails to comply with the provisions of the Act by taking steps to file its annual returns up to date within 90 days of publication on the Commission’s website shall be struck off the Register.
“The General Public is advised that it shall be unlawful for any company struck off the Register to carry on business unless it is first restored to the Register by an order of the Federal High Court.
“This notice is pursuant to Section 692 (3) and (4) of the Companies and Allied Matters Act 2020.”