The Corporate Affairs Commission (CAC) has delisted over 80,000 dormant companies from its register due to non-compliance with annual returns for ten years. Major firms like Dunlop and Mitsubishi were among those affected. Companies now deemed dissolved are no longer eligible for business transactions.
The Corporate Affairs Commission (CAC) has officially removed over 80,000 companies from its register for failing to file annual returns for 10 years. In a statement released on Wednesday, the CAC confirmed the delisting of these companies, which were previously notified in July 2024 about the impending action. The commission had given the companies a 90-day grace period to submit their overdue reports and update their status.
Companies that did not comply with the CAC's advisory have now been deemed dissolved from the date of publication. Among the affected firms are several well-known names, including Dunlop Nigeria Industries Sales Limited, Mitsubishi Shoji Kaisha Limited, Marina Investment Limited, and Innoson "Vinod" International Limited. These businesses, once active in various sectors, had failed to provide necessary updates to their annual reports, leading to their removal from the register.
The CAC emphasized that it is illegal to engage in any transactions or deals with companies that have been dissolved. The full list of affected companies is now posted on the CAC’s official website for public access. The delisting impacts more than 80,000 businesses, further tightening compliance measures within Nigeria’s corporate landscape.
