1.0 Introduction
On July 15, 2026, the Corporate Affairs Commission (the “Commission”) issued a Circular announcing the commencement of another nationwide exercise to strike-off inactive and non-compliant companies from the Register of Companies pursuant to Section 692 (3) & (4) of the Companies and Allied Matters Act, 2020 (“CAMA”).
The Commission published a list of more than 100,000 (One Hundred Thousand) companies identified as liable to be struck off the Register and directed all affected companies to regularize their status within ninety (90) days from the date of the notice by:
1. Filing all outstanding Annual Returns
2. Filing information of Persons with Significant Control (Beneficial Ownership); and
3. Regularizing all outstanding statutory records with the Commission.
The Commission further stated that companies that fail to comply within the stipulated period will be struck off the Register without further notice.
2.0 The Commission’s Power
The Commission’s action is founded on Sections 692 (3) & (4) of the Companies and Allied Matters Act, 2020, which empowers the Commission to remove the name of a company from the register where it has reasonable cause to believe that it is not carrying on business, has remained inactive, or has failed to comply with its statutory obligations under the Act.
The current exercise forms part of the Commission’s ongoing effort to maintain an accurate and credible Register of Companies, improve corporate transparency, strengthen regulatory compliance, and ensure that only active companies remain in the Register.
Companies listed in the public notice have been afforded a 90-day window to remedy their noncompliance before the commission exercises its statutory powers to strike them off.
3.0 Commercial Implications
The striking-off of a Company’s name from the Register has significant legal and commercial implications. Once struck off, a company ceases to exist as a legal entity and may consequently lose the capacity to lawfully carry on business, institute or defend legal proceedings, own or deal with assets in its name, and enter into valid contractual arrangements until its name is restored to the Register through the prescribed legal process.
In addition, striking-off may adversely affect a Company’s ongoing commercial transactions, banking relationships, regulatory licenses, investment opportunities, financing arrangements, and the overall corporate reputation of the affected company.
Given the scale of the Commission’s current enforcement exercise, companies are advised to promptly verify through the Commission’s website (www.cac.gov.ng), whether their names appear on the Commission’s published list and promptly take appropriate and applicable steps to regularize all outstanding statutory obligations as prescribed by CAMA, within the prescribed timeline.
4.0 Recommended Steps
1. Review the Commission’s published list to determine whether the company has been identified for striking-off.
2. Ensure that all outstanding Annual Returns are filed with the Commission without delay.
3. File or update information relating to Persons with Significant Control in accordance with the requirements of CAMA.
4. Rectify any outstanding post-incorporation filing or statutory deficiencies, including changes relating to directors, shareholders, registered office address, share capital and other corporate records.
5. Implement periodic internal compliance audits to ensure continued adherence to all statutory filing obligation and avoid future regulatory sanctions.
5.0 Conclusion
The Commission’s latest enforcement exercise underscores its commitment to ensuring compliance with the Companies and Allied Matters Act, 2020. Accordingly, companies are advised to utilize the 90day compliance window to regularize their record and avoid being struck-off from the Register of Companies.
Should you require assistance in reviewing your company’s compliance status, filing outstanding Annual Returns, updating Persons with Significant Control information, or regularizing your corporate records, our team is available to provide professional guidance and all necessary legal support to ensure full compliance with the Commission’s requirements.
As part of our commitment to support our clients, we have proactively reviewed the Commission’s published list and can confirm that your company’s name does not appear among the companies identified for striking-off. This, however, does not relieve the company of its continuing statutory obligation to maintain compliance with CAMA and the Commission’s filing requirement. Failure to remain compliant may expose the company to future regulatory sanctions, including the risk of being struck off.
We remain available to assist with any compliance or regulatory filing that may be required to ensure your company’s continued good standing with the Commission.
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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