The Corporate Affairs Commission (CAC) on July 29, 2025, announced plans to delist 100,000 dormant companies from its register, issuing a 90-day ultimatum for compliance with annual filing requirements, effective immediately.
Registrar-General Hussaini Magaji disclosed the initiative during a press briefing, citing a 2024 audit that identified these firms, representing 15% of the 670,000 registered entities, as inactive, with no filings since 2019. The move targets companies failing to submit annual returns or pay penalties, aiming to clean the registry and enhance business credibility, with delisting scheduled for October 27, 2025, unless firms regularize their status.
The CAC estimates uncollected penalties at ₦5 billion, with a grace period allowing companies to pay fines and update records, supported by an online portal launched in June 2025. The policy aligns with the Companies and Allied Matters Act (CAMA) 2020, which mandates annual filings, but small business owners, represented by the National Association of Small and Medium Enterprises (NASME), argue the process burdens micro-enterprises with limited resources.
Critics from the Nigerian Bar Association suggest the CAC’s enforcement may be inconsistent, given past delays, while supporters see it as a step toward a transparent business environment. The narrative of regulatory overhaul is significant, but its success depends on accessibility and enforcement rigor.