CAC Deregisters 38,000 Companies For Failing To File Returns

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CAC Deregister 38,000 Companies For Failing To File Returns

The Corporate Affairs Commission (CAC) on Tuesday announced that it had de-listed the names of over 38,000 companies from its register for failing to file annual returns to the commission.

The Registrar-General, CAC, Mr Bello Mahmud, made this known while speaking during a chat with pressmen in Abuja.

Mahmud, who stated that the delisting of the companies have been gazetted by the commission, added that only the court can give an order for the companies to be readmitted into the register of the commission.

He said, “The laws says that if the commission has reasonable cause that the company is not carrying on business while in operation, then it has to enquire from that company and if no response is received within three months, the commission can proceed to strike off the name of the registered company.

“We have just gazetted a little above 38,000 companies and those companies have been struck off from the register.

“But by striking off, it doesnt mean the companies have been dissolved. The companies have been more or less suspended and they cannot go back to business unless they obtain an order of court to re-list. The law gives them a window of 20 years within which they can apply for re-list.”

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Datboyjerry

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