CAC Delists 80,000 Dormant Companies, Including Dunlop and Mitsubishi


In a statement released on Wednesday, the CAC explained that the action was carried out under its authority as provided in Section 692 (4) of the Companies and Allied Matters Act No. 3 of 2020. The law empowers the commission to strike off companies that have been inactive or failed to fulfill statutory obligations.


“The general public may recall that the Commission issued a 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,” the statement read.


The CAC noted that companies that complied with the advisory within the 90-day period were exempted from the delisting process. However, companies that failed or refused to update their annual returns were deemed dissolved as of the date of publication.


The commission emphasized that engaging in any transaction with a dissolved company is illegal.


High-Profile Companies Delisted


Among the 80,429 companies delisted are prominent names such as:


Dunlop Nigeria Industries Sales Limited


Mitsubishi Shoji Kaisha Limited


Jolly Food Industries Ltd


Dantama Biscuits Factory Ltd


Eko Foods Limited


Marina Investment Limited


Hydeson and Avilson Nig Ltd



Impact on Business


The removal of these companies from the register signals the CAC's commitment to enforcing compliance with corporate governance standards. The delisted companies are considered legally non-existent, and their assets, if any, are subject to regulatory provisions for dissolved entities.


The commission urged stakeholders to verify the status of companies on its official website before entering into any business dealings. The detailed list of dissolved companies can be accessed via the CAC's website.


This move aligns with the commission’s broader mandate to ensure an up-to-date and transparent corporate registry, promoting accountability in Nigeria’s business environment.



The full list Here



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