The Corporate Affairs Commission (CAC) has debunked the statement making the round that the Commission has requested all companies, business name and Incorporated Trustees to validate their accounts on or before March 31, 2021, failure which will lead to deletion. The CAC in a statement signed by its management, which is dated the February 24, 2021, stated categorically that it did not issue such direction.
According to the CAC, the Commission does not “delete registered entities, stressing that, Companies and Incorporated Trustees may only be dissolved (with or without liquidation) and Business Names removed from the register in accordance with the procedures prescribed in the Companies and Allied Matters Act 2020 (CAMA), and that none of these procedures include “deletion”.
“The Commission wishes to state categorically that it did not issue or direct the issue of any request for Companies, Business Names and Incorporated Trustees to “validate” their accounts with the Commission. Furthermore, the Commission does not “delete registered entities. Companies and Incorporated Trustees may only be dissolved (with or without liquidation) and Business Names removed from the Register in accordance with the procedures prescribed in the Companies and Allied Matters Act 2020 (CAMA). And none of these procedures include “deletion'”.
“The indicated status of a registered entity on the Public Search portal as “ACTIVE” or “INACTIVE” is a function of the entity’s annual returns filing. Where a registered entity has not filed its annual returns up to date, the status of the entity is indicated as “INACTIVE”. When a registered entity has filed its annual returns up to date, the status of the entity is indicated as “ACTIVE”.
“It was partly in this regard that the Commission on January 11, 2021 issued and published a Public Notice on its website and social media platform advising registered entities to confirm the current information on their entities on https:/Ilsearch.cac.gov.ng using the paid service interface and forward any feedback on the status to [email protected] for the Commission’s necessary action. There was no mention of validation of accounts or deletion of registration in the Public Notice,” the statement reads.
Speaking further, the Commission assured the general public of its commitment to providing registration and regulatory services adequate to the expectations of its esteemed customers, adding that, any notice, information or update issuing to the general public is always published on the Commission’s website at www.cac.ng. The general public is also advised to follow the social media handles of the commission for authentic information from the Commission.