The Corporate Affairs Commission (CAC) has disclosed its plans to delist 100,000 registered companies from its database, adding that the affected companies failed to file annual returns in the last 10 years. This was made known by the Registrar General, CAC, Alhaji Garba Abubakar while speaking at a training workshop with the theme “Use of the Beneficial Ownership Register (BOR)”.
He stated that the affected companies would be served with a notice of striking off by the Commission as enshrined in section 692 of the CAMA, 2020.
Abubakar also advised companies to ensure the timely payment of annual returns to prevent being delisted, adding that the affected companies are allowed to be relisted after the payment of all outstanding debts and order of a court, as provided by the law.
