The Corporate Affairs Commission (CAC) has officially removed 80,429 companies from its register for failing to submit their annual reports for the past ten years.
The action follows a July 25 announcement in which the CAC warned companies to rectify their status within a 90-day grace period.
As of Wednesday, the commission confirmed that it had dissolved the companies that did not comply with the mandatory filing requirements.
The delisting process was carried out in line with the Companies and Allied Matters Act of 2020, which grants the CAC the legal authority to dissolve inactive or dormant companies.
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With only a handful of companies remaining active, the delisted firms include well-known names such as Alfa Royal Ltd, Jolly Food Ind. Ltd, and Innoson “Vinod” International Ltd. Any transactions involving these dissolved companies are now considered illegal.
The CAC had earlier issued a public notice regarding the delisting of businesses suspected of inactivity due to non-compliance.
