Registrar General of the Corporate Affairs Commission (CAC), Hussaini Magaji, has stated that in a bid to support more Micro, Small and Medium Enterprises (MSMEs), the commission facilitated free business registrations for 250,000 entrepreneurs in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

He described the initiative as part of their intervention to reduce the cost of business formalisation and encourage small businesses operate within the regulated economy.

According to him, the programme is aimed at easing entry barriers for small businesses and expanding participation in the formal sector.

He also disclosed that they deregistered over 400,000 companies last year, citing prolonged inactivity and failure to meet statutory compliance requirements.

He disclosed this during activities marking CAC’s 35th anniversary over the weekend.

He said the move forms part of efforts to clean up the national companies register and strengthen confidence in Nigeria’s corporate regulatory framework.

According to Magaji, the mass deregistration was necessary to remove inactive and non-compliant entities from their database and protect the integrity of the register. He added that the action was aimed at ensuring transparency and credibility in Nigeria’s business environment.