{"id":10765,"date":"2023-12-13T08:05:44","date_gmt":"2023-12-13T08:05:44","guid":{"rendered":"https:\/\/abujacityjournal.com\/livenews\/?p=10765"},"modified":"2023-12-13T08:05:44","modified_gmt":"2023-12-13T08:05:44","slug":"cac-to-delist-over-90000-companies-over-annual-returns-non-compliance","status":"publish","type":"post","link":"https:\/\/abujacityjournal.com\/livenews\/2023\/12\/13\/cac-to-delist-over-90000-companies-over-annual-returns-non-compliance\/","title":{"rendered":"CAC to Delist Over 90,000 Companies Over Annual Returns Non-Compliance"},"content":{"rendered":"<div class=\"flex-1 overflow-hidden\">\n<div class=\"react-scroll-to-bottom--css-ylllp-79elbk h-full\">\n<div class=\"react-scroll-to-bottom--css-ylllp-1n7m0yu\">\n<div class=\"flex flex-col pb-9 text-sm\">\n<div class=\"w-full text-token-text-primary\" data-testid=\"conversation-turn-61\">\n<div class=\"px-4 py-2 justify-center text-base md:gap-6 m-auto\">\n<div class=\"flex flex-1 text-base mx-auto gap-3 md:px-5 lg:px-1 xl:px-5 md:max-w-3xl lg:max-w-[40rem] xl:max-w-[48rem] group final-completion\">\n<div class=\"relative flex w-full flex-col lg:w-[calc(100%-115px)] agent-turn\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex flex-grow flex-col max-w-full\">\n<div class=\"min-h-[20px] text-message flex flex-col items-start gap-3 whitespace-pre-wrap break-words [.text-message+&amp;]:mt-5 overflow-x-auto\" data-message-author-role=\"assistant\" data-message-id=\"06c65370-5a88-4f9c-bf10-cffb79c050c2\">\n<div class=\"markdown prose w-full break-words dark:prose-invert dark\">\n<p>The Corporate Affairs Commission (CAC) is poised to delist 91,843 companies due to their failure to submit annual returns. As disclosed on its website, the CAC has identified and listed these companies for delisting, showing a decrease from the initially reported 94,581 in August. This figure falls short of the earlier announced intention to remove 100,000 companies, as disclosed by CAC&#8217;s Registrar-General and Chief Executive Officer, Garba Abubakar, in July.<\/p>\n<p>Abubakar emphasized the commission&#8217;s commitment to enforcing the removal, citing Section 692 of the CAMA, 2020, and noted that notices would be sent to the affected companies before taking further action.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>In an update on December 5, CAC said, \u201cFurther to its earlier notice of the commencement of striking off the names of Companies from the Register of Companies and published on August 2, 2023, the Commission hereby notifies the General Public that the list of Companies that have failed to comply with the provisions of the Companies and Allied Matters Act 2020, to file up to date annual returns is now ready for publication in accordance with the provisions of Section 692 of the Act.<\/p>\n<p>\u201cCompanies who filed complete annual returns in response to the earlier publication are advised to confirm removal from the list of Companies to be struck off. The updated list for publication is available on the Commission\u2019s website.\u201d<\/p>\n<p>It noted that any company that filed complete annual returns but still has its name on the list should send a mail with evidence of filing to\u00a0compliance@cac.gov.ng\u00a0not later within 30 days.<\/p>\n<p>Furthermore, he stated that it is unlawful for any company whose name has been struck off the register of companies to carry on business unless its name is first restored to the register by an order of the Federal High Court.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Corporate Affairs Commission (CAC) is poised to delist 91,843 companies due to their failure to submit annual returns. As disclosed on its website, the CAC has identified and listed these companies for delisting, showing a decrease from the initially reported 94,581 in August. This figure falls short of the earlier announced intention to remove [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":10766,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[],"class_list":["post-10765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/10765","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=10765"}],"version-history":[{"count":3,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/10765\/revisions"}],"predecessor-version":[{"id":10807,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/10765\/revisions\/10807"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/10766"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=10765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=10765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=10765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}