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The Corporate Affairs Commission (CAC) has announced its intention to fully enforce the provisions of the Companies and Allied Matters Act (CAMA) 2020 relating to information that must appear on company business documents.
In a public notice issued on 7 July 2026, the Commission drew attention to sections 304 and 729 of CAMA, warning that companies that fail to comply with these requirements may face statutory penalties. The Commission has indicated that enforcement will take effect from 1 August 2026. Although these provisions are not new, enforcement has historically been limited. The notice signals a shift towards stricter regulatory compliance and serves as a reminder for companies to review their corporate documents and business practices.
Company Disclosure Obligations Under Sections 304 and 729 of CAMA
Disclosure of Directors’ Particulars
Section 304 of CAMA requires every company to include certain particulars relating to its directors in all trade circulars, show cards, and business letters issued or sent to any person in Nigeria. These include:
- The current forename (or initials) and surname of each director;
- Any former forename or surname of a director, except a married woman’s surname before marriage; and
- The nationality of any director who is not a Nigerian citizen.
The purpose of the provision is to promote transparency and ensure that persons dealing with a company can readily identify those responsible for its management.
The Act also empowers the CAC to exempt a company from these requirements in special circumstances. However, such exemptions are granted only upon application and are published in the Federal Government Gazette.
Display of Company Name and Registration Number
Section 729 imposes broader disclosure obligations on companies. Under the provision, every company must:
- Display its registered name and registration number at every business location in a conspicuous and legible manner;
- Ensure that its name is engraved on its common seal, where the company has a seal;
- State its registered name and registration number on business letters, notices, advertisements and other official publications; and
- Include the same details on invoices, receipts, bills of exchange, cheques, letters of credit and other commercial documents issued on behalf of the company.
Consequences of Non-Compliance
Under Section 304, officers of a defaulting company may be liable to penalties prescribed by the CAC’s regulations.
More significantly, non-compliance with Section 729 constitutes a continuing default. This means that penalties may accrue for every day the violation remains uncorrected, and both the company and its directors or managers may be held liable.
What Companies Must Do
In light of the CAC’s renewed enforcement efforts, companies should take immediate steps to review their compliance status ahead of the 1 August 2026 enforcement date. This includes:
- Reviewing letterheads, invoices, receipts and other business templates to ensure that all required information is included.
- Confirming that director details are accurate and reflect any recent appointments, resignations or name changes.
- Ensuring that foreign directors’ nationalities are properly disclosed where required.
- Verifying that company names and registration numbers appear on all relevant commercial and promotional materials.
- Updating non-compliant templates and documents without delay.
Conclusion
The CAC’s recent notice does not introduce new legal obligations. Rather, it signals a renewed commitment to enforcing existing provisions of CAMA that many companies may have overlooked.
Businesses should therefore take the opportunity to review their corporate documents and compliance processes. A simple audit of letterheads, invoices, receipts and other business materials today may prevent regulatory sanctions and unnecessary liability tomorrow.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
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