CAC Begins Process of De-registering 38,717 Dormant Companies

CACThe Corporate Affairs Commission (CAC) says it has begun the process of delisting 38,717 dormant or portfolio companies from its register.

The commission’s Director of Public Affairs, Mr Churchill Williams, said this in an interview with the News Agency of Nigeria (NAN) on Tuesday in Abuja.

Williams said the affected companies were those that failed to file their annual returns to CAC as required by sections 370 to 378 of the Companies and Allied Matters Act (CAMA).

According to him, the move becomes necessary after the companies also failed to respond to several notices of de-registration from the commission through various channels.

Source: NAN

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