The Corporate Affairs Commission has started the process of removing 100,000 companies from its register over their failure to file annual returns and other required statutory documents.
The commission gave the affected companies 90 days to update their records or risk being permanently struck off the register.
The warning was contained in a public notice issued on Wednesday, where the commission said the exercise is being carried out in line with the provisions of the Companies and Allied Matters Act, 2020.
According to the CAC, the affected companies have been listed on its official website for public access.
It advised the companies to file all outstanding annual returns, including information on Persons with Significant Control (Beneficial Ownership), within the stipulated period.
The commission also directed affected companies to send evidence of compliance to its designated email address after updating their records.
It warned that companies that fail to meet the deadline would be removed from the register without any further notice.
The CAC said the exercise is part of efforts to maintain an accurate and up-to-date companies register in line with the law.
It added that the commission remains committed to providing efficient and timely services to businesses across the country.
Business owners were advised to visit the CAC website to confirm whether their companies are among those listed for possible removal.
