The Corporate Affairs Commission (CAC) said in Abuja on Thursday that it was on the verge of de-listing some 50,000 companies from its register.

Ahaji Garba Abubakar, the Special Adviser to the Registrar General of the CAC told the News Agency of Nigeria (NAN) that the companies were yet to meet the provisions of the Companies and Allied Matters Act 1990 and would be de-listed.

According to him, the dormant companies have failed to file their annual returns as required by the commission.

“The companies are before the board for approval before they are finally de-listed from the register,’’ he said.

He said the commission had so far sent letters to the dormant companies, notifying them of the decision to strike off their names from the register.

Abubakar also said the bulk of the letters were returned to the commission unclaimed as their addresses could not be located, adding that some of them used fake addresses.

He said the commission had in the past published the list of companies in national dailies in to afford them the opportunity to file their returns.

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It is better to delist them than to have a catalogue of unperforming companies.
Its their duty, so let them do whatever is appropriate, after all some of the owners might be dead by now

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