The Corporate Affairs Commission has launched a fresh compliance enforcement exercise that could see about 100,000 companies removed from Nigeria’s corporate register for failing to meet mandatory filing requirements.
The Punch reported that the commission disclosed this in a public notice published on its official Facebook page on Thursday, saying the exercise is being carried out under Sections 692(3) and (4) of the Companies and Allied Matters Act (CAMA), 2020.
According to the notice, affected companies have 90 days to update their records by filing all outstanding annual returns and submitting details of their Persons with Significant Control, also known as beneficial ownership information.
The CAC said the names of the affected firms have already been uploaded to its official website. It added that companies that comply with the directive must forward proof of compliance to the commission through its designated email address.
The commission warned that any company that fails to regularise its status before the expiration of the deadline would be struck off the register without further notice.
The notice read, “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.
“The list of the affected 100,000 companies can be accessed on the Commission’s website. The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and, by extension, Persons with Significant Control/Beneficial Ownership information) and regularise their records within ninety (90) days of this notice. Evidence of compliance should be sent to the designated email address.
“Please note that companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice. The commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers.”
The latest exercise is part of the CAC’s ongoing efforts to clean up Nigeria’s corporate register by removing dormant companies and entities that have consistently failed to meet statutory obligations.
The commission has maintained that keeping an accurate and up-to-date register is essential for promoting transparency in the corporate sector, boosting investor confidence, and ensuring that only active and compliant businesses remain on its database.
This is the latest in a series of compliance drives by the CAC. In February, the commission announced plans to delist another 100,000 companies for prolonged inactivity and non-compliance with the provisions of the Companies and Allied Matters Act.
Earlier in 2025, the CAC revealed that it had already deregistered more than 400,000 companies after identifying them as inactive or persistently in breach of statutory filing requirements.
The move formed part of wider reforms aimed at strengthening the integrity of Nigeria’s corporate records and aligning the country’s regulatory framework with global best practices.
Under CAMA, every registered company is required to file annual returns with the CAC as evidence that it remains active and compliant with regulatory requirements.
Incorporated companies are expected to submit their annual returns within 42 days after each anniversary of incorporation, while registered business names must file theirs before June 30 each year.
Companies that fail to comply are liable to late filing penalties in addition to the prescribed fees and may ultimately be struck off the corporate register.
The requirement to disclose Persons with Significant Control, also known as beneficial ownership information, forms part of Nigeria’s broader reforms to enhance corporate transparency, curb money laundering and illicit financial flows, and meet international standards on beneficial ownership disclosure.
