Corporate affairs commission to remove 37 thousand plus companies. See list
The Corporate Affairs Commission (CAC) is tasked with the responsibility of registering all businesses, companies, organizations and groups in Nigeria under the Companies and Allied Matters Act (CAMA) of 1990. They are located in all states of the country to make business registration easy and stress-free for citizens. Their presence in every state also means businesses can be registered fast as it is one of the areas that determines the best countries to do business, a ranking that recently portrayed Nigeria as one of the worst places to do business in 2016 according to the World Bank Group.
Registered companies are expected to file annual returns to prove they are still active and not dormant. Failure to do this by some companies has promoted the commission to list about 38, 717 companies to be delisted from their database of registered companies.
In a final notice published on their website, the commission advised registered company owners to check their website or state offices to determine if their companies are affected and to take steps to prevent this from happening.