…Affected firms have 90 days to file outstanding annual returns and beneficial ownership information or face deregistration
The Corporate Affairs Commission (CAC) has begun another nationwide compliance exercise that could see 100,000 companies removed from Nigeria’s corporate register for failing to meet statutory filing obligations.
In a public notice issued on Wednesday, the Commission said the action is being taken under Sections 692(3) and (4) of the Companies and Allied Matters Act (CAMA), 2020, targeting companies that have failed to file annual returns and disclose beneficial ownership information.
CAC said companies affected by the exercise have 90 days to regularise their records by filing all outstanding annual returns and submitting details of their Persons with Significant Control (PSC), also known as beneficial owners.
The Commission added that the list of affected companies has been published on its official website.
After completing the required filings, companies are expected to submit evidence of compliance through the Commission’s designated email address.
“Companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice,” the Commission warned.
According to the CAC, the latest enforcement exercise is part of ongoing efforts to maintain an accurate, transparent and credible corporate register.
The Commission said removing inactive and non-compliant entities will improve the integrity of Nigeria’s business registry while enhancing the delivery of efficient regulatory services.
This is the second major compliance drive by the Commission this year.
In February 2026, the CAC announced plans to delist another 100,000 companies over prolonged inactivity and failure to meet statutory obligations under CAMA.
The Commission also disclosed that it deregistered more than 400,000 companies in 2025, citing persistent non-compliance and inactivity as reasons for the mass removal.
According to the regulator, the exercise is aimed at strengthening confidence in Nigeria’s corporate governance framework by ensuring that only active and compliant businesses remain on the register.
Under the Companies and Allied Matters Act (CAMA), all registered companies are required to file annual returns with the CAC to confirm they remain operational and compliant with legal requirements.
Companies are expected to file annual returns within 42 days of each anniversary of incorporation, while registered business names must file their annual returns before June 30 each year.
Failure to comply attracts late filing penalties and could ultimately result in deregistration.
The Commission also requires companies to disclose their Persons with Significant Control, a measure introduced to strengthen corporate transparency, curb money laundering and align Nigeria with global beneficial ownership disclosure standards.
