Commission delists over 40,000 dormant registered companies for non-performance.

For non-performance, over 40,000 names of registered companies have been delisted from the nation’s registration records in the last two years by the Corporate Affairs Commission (CAC).CAC said: “We have succeeded to clean up our registration records by delisting at least 40,000 registered companies from our system between October 2017 and October 2019. The exercise is aimed at ensuring that only names of performing companies remain in our database, companies involved could as well re-apply subsequently if they so desires.”

The Acting Registrar-General of CAC, Lady Azuka Azinge, made this known yesterday, in Abuja, while briefing journalists on the performance of the Commission in the last two years.She said apart from paying worker’s N1billion outstanding salary arrears, as a result of the nine per cent increment in 2013, the management also paid over N400million pension arrears, which had lingered for over two years.

She said: “The management has successfully implemented the Business Incentive Strategy (BIS) under which cost of registration of business was reduced by 50 per cent to enable Micro, Small and Medium Enterprises (MSMEs) formalise their business. As we speak today, a total of 244,428 business names have been registered in the last two years.”

She explained that the Commission has completely decentralised its operations in all states of the federation, to ensure that such offices work at par with the Headquarters, and to enable customers pick up their certificates at any location of their choice.

“We have full closure of manual registration nationwide and deployment of online real time pre-registration services to all state offices through the company registration portal (CRP), to enable reorganisation of departments and state offices for efficient service delivery.”She also said the Commission was resolute in facilitating the passage of the Companies and Allied Matters Acts (CAMA) Amendment Bill 2019,  by the National Assembly, adding that the bill is presently awaiting Presidential assent.