CAC to Strike Off 100,000 Companies for Missing Statutory Filings
The Corporate Affairs Commission has begun a fresh compliance exercise under CAMA 2020 that could see up to 100,000 companies removed from its register. The move targets firms that have failed to file annual returns and other mandatory documents. The Commission has published the list of affected companies in a public notice and has given them a 90-day grace period to file all outstanding returns and update beneficial ownership records. Companies that complete the required filings must submit proof of compliance. Those that fail to act within the stipulated timeline will be struck off without further notice.
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