The Corporate Affairs Commission (CAC) has announced that it struck out over 400,000 companies from its database in 2025 due to their failure to file annual returns.
The CAC Registrar General, Hussani Ishaq Magaji, made this known in Abuja during an event marking the Commission’s 35th anniversary. He highlighted CAC’s progress since its establishment in 1991, noting its transition from manual processes to a fully digital system.
Magaji explained that CAC now provides 24/7 digital services, allowing Nigerians to register businesses online without visiting any CAC office, describing this as a major improvement in ease of doing business.
He also revealed that the Commission partnered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to support MSMEs by providing 250,000 free business registrations in 2025.
According to him, the deregistered companies were mostly inactive shell companies that failed to meet compliance requirements, adding that removing them was necessary to protect the economy, strengthen investor confidence, and maintain a credible company register.
Magaji further spoke on the CAC’s Beneficial Ownership Register, describing it as a transparency tool that helps identify the real owners behind companies operating in Nigeria.
Looking ahead, he stated that CAC plans to establish a hospital to improve staff welfare, adding that the Commission has also improved staff career progression and ensured no welfare claims remain unpaid.
The CAC reaffirmed its commitment to supporting MSMEs as part of efforts to boost and stabilise Nigeria’s economy.
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