The Corporate Affairs Commission (CAC) has started removing 100,000 companies from Nigeria's corporate register as part of its effort to enforce compliance with the Companies and Allied Matters Act (CAMA) 2020.The affected companies failed to file annual returns and other mandatory documents.They have 90 days to regularize their filings or risk being struck off the register.The CAC emphasized that this action is based on Sections 692(3) and (4) of the CAMA, which allows the removal of inactive or non-compliant entities.Companies must submit proof of compliance to [[email protected]](mailto:[email protected]) to avoid being removed.The move aims to improve corporate register integrity by eliminating dormant entities and enhancing transparency in beneficial ownership disclosures.Business owners are urged to check if their companies are listed and take immediate action to meet deadlines.This initiative reflects CAC's ongoing efforts to strengthen regulatory compliance and transparency in Nigeria's corporate sector.
Original title: CAC moves to purge 100,000 companies from corporate register
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