CAC kick off delist of over 100,000 companies from database

Iheoma Ihedigbo

Corporate Affairs Commission (CAC) has commenced of striking off companies from its database for not complying with the provisions of the Companies and Allied Matters Act 2020, in accordance with the requirements of the Act.

According to statement made available to The Mirror,  names  of companies to be struck off have been published on the commission website.

The Commission advised  general public to check  the website for the lists of the affected companies.

“The affected  companies  should  note that any company  that fails  to comply with the provisions of the Act by talking steps to file it’s 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 CAMA 2020,” they stated.