The Corporate Affairs Commission (CAC) has officially removed the names of companies that failed to file their annual reports for the past ten years.
This action follows a previous announcement made on July 25, which gave companies a 90-day grace period to rectify their status.
As of Wednesday, the CAC confirmed that it had removed from its register those companies that did not submit the required updates.
More than three months ago, the commission had notified businesses about the impending delisting for not complying with annual report filing requirements.
The commission reminded the public of the notice it issued regarding companies suspected of being inactive or dormant due to their failure to file annual returns for over 10 years.
The companies that have now been removed from the register were given ample time to submit the necessary documentation and send an activation email to the CAC.
Under the Companies and Allied Matters Act of 2020, the CAC used its legal authority to dissolve these inactive companies, with their names stricken from the register.
As a result, any transactions with these dissolved companies are now considered illegal.
Out of a total of 100,000 companies previously listed, 80,429 are now dissolved, leaving only a handful of active businesses.
Some of the affected companies include well-known names such as:
1) Alfa Royal Ltd
2) Jolly Food Ind. Ltd
3) Dantama Biscuits Factory Ltd
4) Honeycrown Manufacturing Company Limited
5) Havila Gold Nigeria Limited
6) Print Express Limited
7) Hydeson and Avilson Nig Ltd
8) Innoson “Vinod” International Limited
9) Apapa Sea Stores Limited
10) Citigate Limited
11) Mutbish Guards Security Company Limited
12) Safol Integrated Ventures Limited
13) Eko Foods Limited
14) Myers Klein & Goldsmith Ltd
15) De-Luxe Colour Productions Limited
16) Marina Investment Limited
17) Dunlop Nigeria Industries Sales Limited
18) Mitsubishi Shoji Kaisha Limited
A full list of the dissolved companies is available here.
