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Why Corporate Affairs Commission De-registered Over 38,000 Companies - Bello Mahmud

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The Corporate Affairs Commission on Tuesday said it had de-registered the names of over 38,000 companies from its register for failing to file annual returns to the commission.

The Registrar-General, CAC, Mr Bello Mahmud, stated this while speaking during a chat with journalists in Abuja.

He said that the delisting of the companies have been gazetted by the commission, adding that only the court can give an order for the companies to be readmitted into the register of the commission.

By delisting of these companies by the CAC, it implies that such companies are no longer registered entities in Nigeria and as such not recognised by law.

Bello said that some of the companies that were delisted may have not been liquidated, adding that based on the provisions of the law, the companies have up to 20 years to reapply for re-registration.

www.newshelm.com/2017/02/38000-companies-de-registered-for.html

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