Category: National

By Kamal Yalwa – July 29, 2025 The Corporate Affairs Commission (CAC) has announced plans to delist no fewer than 100,000 companies from its register due to prolonged inactivity and failure to comply with statutory obligations under the Companies and Allied Matters Act (CAMA) 2020. In a public notice issued by the Commission, the affected companies were flagged for either not carrying on business, being inactive for over a decade, or failing to meet key regulatory requirements, particularly the filing of annual returns and disclosure of Persons with Significant Control (PSC). The CAC has provided a 90-day window from the date of the notice for affected companies to regularize their records or risk being struck off the register. Compliance Steps for Affected Companies To avoid delisting, companies are required to: The Commission warned that “it shall be unlawful for any company struck off the Register of Companies to continue carrying on business unless it is restored by an order of the Federal High Court.” This move is not without precedent. A similar exercise was conducted last year, where companies that failed to comply following a July 2024 notice were formally delisted in November 2024. Legal Basis and Consequences The CAC noted that it is exercising its powers under Section 692(4) of the Companies and Allied Matters Act (CAMA) 2020 to delist companies that have defaulted on their statutory obligations for at least 10 years. Companies delisted through this process are deemed legally dissolved from the date of publication. The Commission warned the public against doing business with any company that has been struck off the register, noting that “it is illegal to enter into any transaction or deal with a company that has been dissolved.” Understanding Annual Returns Annual returns are a mandatory filing that confirms a company is still active and compliant. For companies, annual returns must be filed within 42 days after each incorporation anniversary, while business names must file by June 30 each year. Failure to comply attracts penalties, including fines, additional filing fees, and the ultimate risk of being struck off the CAC register. The full list of affected companies is available on the Commission’s official website.

The Nigeria Immigration Service (NIS) has introduced a new digital platform to streamline the application process for the Combined Expatriate Residence Permit and Automated Card (CERPAC). The portal, accessible at https://cerpac.immigration.gov.ng, will allow applicants to complete and submit their CERPAC applications entirely online, eliminating the need for physical paperwork and reducing processing delays. According to the NIS, the initiative aims to enhance transparency, boost efficiency, and improve the overall user experience for expatriates and businesses engaging foreign personnel in Nigeria. The move aligns with the Federal Government’s ongoing digital transformation agenda, which seeks to modernize public services, promote ease of doing business, and strengthen compliance within Nigeria’s immigration system. Officials say the platform will also incorporate features for real-time tracking, automated notifications, and secure payment options, ensuring a more seamless process for applicants and employers alike. The NIS advised all prospective CERPAC applicants to access the portal via the official link and follow the outlined procedures to avoid fraudulent intermediaries.