CAC delists over 40,000 dormant companies

Over  40,000 names of registered companies have been delisted from the nation’s registration records in the last two years by the Corporate Affairs Commission (CAC) for non-performance and dormancy.

This was disclosed by the Acting Registrar-General of CAC, Lady Azuka Azinge yesterday, in Abuja, while briefing journalists on the performance of the Commission in the last two years.

The exercise was carried out to make sure that only relevant companies remain in the database of the CAC. The commission added that previously delisted companies could still reapply.

We have succeeded in cleaning up our registration records by delisting at least 40,000 registered companies from our system between October 2017 and October 2019. The exercise is aimed at ensuring that only names of performing companies remain in our database, companies involved could as well re-apply subsequently if they so desire,” the commission said.