The Corporate Affairs Commission (CAC) has taken a significant step to strengthen investor confidence and maintain a credible registry of active companies in Nigeria.
According to the Registrar-General, Alhaji Hussaini Magaji, the Commission deregistered over 400,000 companies in 2025 due to inactivity and practices deemed detrimental to the nation’s economy.
The CAC’s decision to deregister inactive companies aims to promote transparency and accountability in the business environment.
The Commission has launched a Beneficial Ownership Register, which will enable it to maintain comprehensive records of individuals behind registered companies.
The CAC is collaborating with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to register 250,000 small businesses, stimulating sectoral growth and national economic development.
The Commission has announced plans to establish a hospital for staff members and introduced car loan and housing loan schemes to enhance staff welfare and boost productivity.
The CAC’s efforts to promote transparency and accountability in the business environment are commendable.
By deregistering inactive companies and establishing a Beneficial Ownership Register, the Commission is taking steps to safeguard the business environment against fraudulent practices.
The CAC’s 35th anniversary celebrations will feature several activities, including a commemorative walk.
The Commission’s commitment to improving the ease of doing business in Nigeria and supporting small and medium enterprises is expected to continue.
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