The Corporate Affairs Commission (CAC) has commenced another round of striking off inactive and non-compliant companies from its register, giving about 100,000 companies a 90-day window to regularise their records or face deregistration.
The commission disclosed this in a statement issued on Wednesday by its management, announcing the commencement of the sixth batch of companies slated for removal from the register in accordance with the provisions of Sections 692 (3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
According to the commission, the affected companies have been listed on its official website and are required to file all outstanding Annual Returns as well as update their Persons with Significant Control (PSC), also known as Beneficial Ownership, information within 90 days from the date of the notice.
“The list of the affected One Hundred Thousand (100,000) companies can be accessed on the Commission’s website. The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) and regularise their records within ninety (90) days of this notice,” the statement said.
The commission directed affected companies to forward evidence of compliance to its designated email address after completing the required filings.
It warned that companies that fail to comply within the stipulated period would be struck off the register without further notice.
The latest exercise forms part of the commission’s ongoing efforts to maintain an accurate and up-to-date companies register, strengthen corporate governance and ensure compliance with statutory filing obligations under the Companies and Allied Matters Act.
The CAC reaffirmed its commitment to delivering efficient regulatory services while encouraging companies to take advantage of the compliance window to regularise their status and avoid deregistration.
“The Commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers,” the statement added.