The
Corporate Affairs Commission on Tuesday said it had de-registered the names of
over 38,000 companies from its register for failing to file annual returns to
the
commission.
commission.
The
Registrar-General, CAC, Mr Bello Mahmud, stated this while speaking during a
chat with journalists in Abuja.
He said that
the delisting of the companies have been gazetted by the commission, adding
that only the court can give an order for the companies to be readmitted into
the register of the commission.
By delisting
of these companies by the CAC, it implies that such companies are no longer
registered entities in Nigeria and as such not recognised by law.
Bello said
that some of the companies that were delisted may have not been liquidated,
adding that based on the provisions of the law, the companies have up to 20
years to reapply for re-registration.
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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