February 08, (THEWILL) — The Corporate Affairs Commission (CAC) has deregistered more than 400,000 inactive and non-compliant companies in 2025 as part of a major clean-up of Nigeria’s corporate database aimed at strengthening transparency and boosting investor confidence.
The Registrar-General of the commission, Hussaini Magaji, disclosed this on Sunday in Abuja during a “Celebration Walk” organised to mark the CAC’s 35th anniversary. He explained that the companies were struck off for failing to file annual returns, a requirement critical to accountability and credibility in the corporate sector.
According to Magaji, the presence of dormant and non-compliant entities on the register posed risks to the economy and undermined trust in Nigeria’s business environment.
“We took this step to create confidence in our investors and the general public by ensuring that the CAC maintains a credible, transparent and integrity-driven corporate register”, he said.
The Registrar-General used the occasion to reaffirm the commission’s commitment to digital transformation, noting that the CAC has transitioned from a manual, location-based registry to a fully digital, 24-hour end-to-end service platform. This, he said, now enables entrepreneurs to register businesses remotely from anywhere in the world, significantly improving the ease of doing business in Nigeria.
Magaji also highlighted the commission’s support for Micro, Small and Medium Enterprises (MSMEs), disclosing that through a partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the CAC facilitated the free registration of 250,000 entrepreneurs nationwide to reduce the cost of formalisation and expand participation in the formal economy.
He further described the operationalisation of the Beneficial Ownership Register as a landmark achievement, noting that it allows the public to identify the ultimate owners of companies and has become a global reference point in the fight against financial crimes and the promotion of corporate accountability.
On internal reforms, Magaji announced improved welfare packages for staff, including housing and vehicle loan schemes, as well as plans to establish a dedicated health facility for serving and retired personnel of the commission.
He attributed the CAC’s 35 years of progress to the resilience and dedication of its workforce, commending staff for their commitment to service delivery for Nigeria’s population of over 200 million.
The anniversary celebration concluded with fitness activities and a symbolic walk, reflecting the commission’s renewed energy and resolve to deepen reforms in its role as Nigeria’s primary corporate regulator.
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