The Corporate Affairs Commission (CAC) is set to remove a total of 100,000 registered companies from its database. Alhaji Garba Abubakar, the Registrar-General/CEO of the CAC, made this announcement during a Training Workshop on the Use of the Beneficial Ownership Register (BOR) held in Lagos. These companies will be deleted due to their failure to submit annual returns over the past ten years, as stipulated in section 692 of the CAMA, 2020.
Before taking action, the Commission will notify the affected companies about the striking off. However, the companies have the opportunity to be reinstated upon settling their outstanding debts and obtaining a court order, in accordance with the law.
Continue Reading:
Before taking action, the Commission will notify the affected companies about the striking off. However, the companies have the opportunity to be reinstated upon settling their outstanding debts and obtaining a court order, in accordance with the law.
Continue Reading:
Large-scale Purge: CAC to Remove 100,000 Companies from Registry
The Corporate Affairs Commission (CAC) is set to remove a total of 100,000 registered companies from its database. Alhaji Garba Abubakar, the Registrar-General/CEO of the CAC, made this announcement d...
www.investingport.com