On the 31st of July, 2023, the Corporate Affairs Commission issued a public notice to the effect that the Commission will commence the striking off from its Register names of companies that have failed to file their annual returns for the last ten years and more. The affected companies, over ninety-four thousand in number, were given till the 30th of October, 2023 to file all pending annual returns or be struck out from the Register of Companies of the Commission. This circular is in line with section 692(3) and (4) of the Companies and Allied Matters Act, 2020.

It must be noted that this group of companies forms the initial batch of listed names, indicating that more companies are likely to be affected soon. [Click here to find the first batch of the list of companies to be struck out from CAC’s Register of Companies.]