The Corporate Affairs Commission (CAC) deregistered more than 400,000 inactive and non-compliant companies in 2025 as part of a major cleanup of Nigeria’s corporate register.
Hussaini Magaji, the Registrar-General, disclosed this on Saturday in Abuja during events marking the commission’s 35th anniversary, describing the exercise as a necessary step to protect the integrity of the national companies database and boost confidence in Nigeria’s business environment.
“In 2025 alone, the commission deregistered over 400,000 companies to remove inactive and non-compliant entities from our records,” Magaji said, noting that the action was aimed at strengthening transparency and credibility in corporate regulation.
He also announced that the CAC, in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), facilitated free business registration for 250,000 entrepreneurs, easing the cost of formalisation for micro, small and medium enterprises (MSMEs) and encouraging wider participation in the formal economy.
The deregistration followed earlier notices warning companies that had been inactive for at least 10 years or failed to meet statutory obligations, such as filing annual returns and disclosing Persons with Significant Control, to regularise their status within 90 days or risk delisting under the Companies and Allied Matters Act.
Magaji added that the commission has operationalised a Beneficial Ownership Register, allowing the public to identify the true owners of companies in Nigeria, a move he said has strengthened corporate transparency and efforts to curb financial crimes.
He also highlighted ongoing reforms at the CAC, including digitisation of services, staff welfare initiatives, and the launch of an AI-powered registration portal designed to speed up company registration and improve ease of doing business.
