CAC delists Dunlop, Mitsubish, 80,000 ‘Dormant Companies’ (Full List)

The Corporate Affairs Commission (CAC) has removed Dunlop Nigeria Plc, Mitsubishi Corporation, and approximately 80,000 other inactive businesses from its registry.

On Wednesday, the Corporate Affairs Commission (CAC) removed companies from its register that had failed to submit their yearly reports for a decade.

On July 25, the commission declared its intention to remove the names of businesses that have been inactive for ten years from its registry.

However, a 90-day grace period is granted for companies to take corrective actions.

Meanwhile, in a statement, the commission said it has stricken off companies that had failed to update their annual reports.

The commission’s statement comes more than three months after it warned the concerned companies of the looming action.

“The General public may recall that the Commission issued Notice of Intention to strike off names of Companies which the Commission has reasonable cause to believe are not carrying out business or are otherwise dormant by reason of not filing Annual Returns for a period of 10 years.

“A statutory period of 90 days was given to such companies to file the requisite Annual Returns and send activation [email protected]. email to Companies that have complied with the advisory have been removed from the list.

“The Commission pursuant to its powers granted in Section 692 (4) of the Companies and Allied Matters Act No. 3 of 2020 has stricken off the names of the companies that have failed or refused to update the Annual returns.

The detailed list is posted on Commission’s website www.cac.gov.ng,” the statement read.

CAC said companies removed from the register are deemed to have been dissolved from the date of publication.

The commission added that it is illegal to enter into any transaction or deal with a company that has been dissolved.