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The Corporate Affairs Commission has given about 100,000 companies 90 days to comply with statutory filing requirements or risk being struck off its register.
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Affected companies must file outstanding Annual Returns and disclose Beneficial Ownership information to avoid deregistration under CAMA 2020.
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The latest enforcement forms part of the CAC’s broader drive to clean up Nigeria’s corporate register and strengthen business transparency.
July 16, (THEWILL) — The Corporate Affairs Commission (CAC) has begun another major compliance enforcement exercise that could see about 100,000 companies removed from Nigeria’s corporate register unless they regularise their statutory filings within the next 90 days.
The Commission announced on Wednesday that the exercise is being carried out under Section 692(3) and (4) of the Companies and Allied Matters Act (CAMA) 2020, giving affected companies a final opportunity to update their records before they are formally deregistered.
Companies on the affected list are required to file all outstanding Annual Returns and submit information on Persons with Significant Control (PSC), also known as Beneficial Ownership information, within the stipulated deadline.
90-Day Window Before Deregistration
According to the Commission, the list of affected companies has already been published on its official website, while businesses that complete the required filings are expected to forward evidence of compliance to the Commission through its designated email address.
The CAC warned that companies failing to meet the deadline would be struck off the register without any further notice.
The Commission said the latest enforcement exercise is aimed at maintaining an accurate and credible companies register while ensuring that businesses operating in Nigeria continue to meet their statutory obligations.
It added that the initiative aligns with its broader mandate of delivering efficient registration and regulatory services while strengthening compliance across the corporate sector.
Part of a Wider Corporate Register Cleanup
The latest exercise follows similar enforcement actions undertaken by the Commission in recent years.
Earlier this year, the CAC announced plans to remove another batch of about 100,000 companies over prolonged inactivity and failure to comply with statutory filing obligations.
In 2025, the Commission disclosed that it deregistered more than 400,000 inactive companies, describing the move as part of ongoing efforts to improve the integrity of Nigeria’s corporate register and eliminate dormant entities that no longer meet regulatory requirements.
The Commission believes maintaining an updated register improves confidence in Nigeria’s business environment while ensuring that only active and compliant companies remain legally recognised.
Why Businesses Should Pay Attention
Under the Companies and Allied Matters Act (CAMA) 2020, every registered company is required to file Annual Returns with the Corporate Affairs Commission to confirm that it remains operational and compliant with regulatory requirements.
For companies, Annual Returns must be filed within 42 days after each anniversary of incorporation, while registered Business Names are required to file their returns annually before June 30.
Failure to comply attracts statutory penalties, outstanding filing fees and, ultimately, the risk of being struck off the Commission’s register.
The requirement to disclose Persons with Significant Control also forms part of Nigeria’s efforts to strengthen corporate transparency, combat money laundering, and align its corporate governance framework with global beneficial ownership disclosure standards.
Evi Ben Ezaga writes on entertainment, culture, and trending stories.
