CAC lists 92, 649 inactive companies for delisting

IKEJA, Lagos – The Corporate Affairs Commission, CAC has listed 92, 649 companies for delisting from Register companies.

The 92, 649 companies were institutions registered just in two years, between 1975 and October 10, 1976.

They were listed in the order that they were registered with the number in their certificate of registration.

The CAC said in a statement that affected companies have 90 days to rescue these institutions by paying the annual returns for each year along with the stipulated fines.

For incorporated companies, the annual returns fee remains N5,000 plus a fine of N5,000 for each year 18 months after registration till date or from the last date that the company remitted annual returns.

However, for business names, the annual returns fee is N3,000 per year plus N3,000 fine 18 months after registration or from the last date the company remitted annual returns till date.

To reactivate affected firms, interested parties will in addition file Statement of Company Affairs where you provide.

The statement shows Assets on one side and Liabilities on the other side
Creditors’ names, addresses and outstanding balances
Details of security granted and the date it was granted
The value of security granted
Signature of Director or proprietor

 

Also complete Annual Returns Form. Upon receipt of acknowledgement of payments with receipt, write to CAC via email to change the company’s status from inactive to active. The change will reflect within 24 hours.