The Corporate Affairs Commission (CAC) has announced its intention to strike off the names of over 100,000 defunct or dormant companies from its register.

In a statement released on Wednesday, the commission cited its powers under Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020 as the basis for this action.

The CAC has given the affected companies a 90-day window to file all outstanding annual returns and notify the commission via email at activation@cac.gov.ng to avoid being delisted. The commission emphasized that carrying on business with the name of a company that has been removed from the register is illegal, as such an organization is considered dissolved.

Among the prominent companies set to be delisted are Chisco Transport (Nigeria) Limited, Free Range Farms Plc, Atlantic Solutions Nigeria Limited, Intertek Industry Services Nig. Ltd, Med Mak Construction Company Limited, Marquis Hotel & Apartment Ltd, Zenon Petroleum And Gas Limited, and Edfin Microfinance Bank Limited.

The full list of companies deemed to be dissolved has been published on the CAC’s website.

AR-DEFAULT-JUL-16-2024-1

The commission’s move is expected to streamline its records and ensure compliance with statutory reporting requirements by registered companies in Nigeria.

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