Awarenessinfomedia has gathered that the Corporate Affairs Commission (CAC) has taken a significant step towards enhancing transparency and accountability in Nigeria's business environment by delisting over 400,000 inactive and non-compliant companies from its official register in 2025.
This move is part of the commission's ongoing efforts to clean up its database and promote a culture of compliance among registered companies.
Speaking at a "Celebration Walk" event in Abuja, CAC Registrar-General Hussaini Magaji explained that the delisted companies were largely inactive, failing to file annual returns and meet statutory obligations.
These shell companies posed risks to economic transparency and investor trust, undermining the integrity of Nigeria's corporate registry.
Magaji highlighted the CAC's transition to a fully digital, end-to-end service provider, enabling entrepreneurs to register companies remotely without visiting a CAC office.
This digital reform has significantly improved Nigeria's ease of doing business, making it easier for entrepreneurs to operate within the regulated economy.
The CAC has also partnered with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to facilitate free business registrations for 250,000 entrepreneurs. This initiative aims to reduce the cost of formalization and encourage small enterprises to operate within the regulated economy.
The commission has operationalized a 'beneficial ownership register', allowing the public to identify the ultimate owners of companies operating in Nigeria. This register has become a global reference point for corporate transparency and efforts to combat financial crimes.
The CAC's efforts are expected to strengthen confidence in Nigeria's business environment, enhance transparency in corporate regulation, and promote accountability among registered companies.
As Magaji noted, "Today, CAC provides services anywhere, anytime, and 24 hours a day. You can register your business from your room without coming to our offices".
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