CAC set to strike off another 100,000 companies off the Register

The Corporate Affairs Commission (CAC) is set to strike off another list of 100,000 companies off the companies register in the next 90 days. In a notice posted on its website to this effect, the commission stated:

“The General Public is hereby informed that the Corporate Affairs Commission (the Commission) has commenced another round of striking off companies that have not complied with the provisions of the Companies and Allied Matters Act 2020 from the Register by the requirements of the Act. The Companies whose names are to be struck off have been published on the Commission’s website. Companies and the General Public are advised to check the website for the list of affected companies.

“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 (and by extension Persons with Significant Control/Beneficial Ownership information) up to date within 90 days of this publication 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, having lost its right over the entity. This notice is pursuant to Section 692 (3) and (4) of the Companies and Allied Matters Act 2020.”

Affected companies are advised to consult their lawyers, accountants, CAC approved agents or business consultants to commence the process of rectifying their status with the commission to avoid delisting as announced by the CAC above. SEE THE LIST OF 100,000 COMPANIES (5TH BATCH) TO BE STRUCK OFF BY THE CAC