The affected companies have a 90-day window from the date of the announcement to file all outstanding annual returns.

The Corporate Affairs Commission (CAC) has announced its intention to deregister companies that have failed to submit their annual reports over the past decade. 

In a statement released on Wednesday, the Commission highlighted that the full list of these dormant companies is available on its website.

“This is to inform the general public that the Commission, pursuant to its powers contained in Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020, intends to strike off from the Register names of defunct or dormant companies that have not filed Annual Returns for a period of 10 years,” the statement partly read.

The CAC emphasized that affected companies have a 90-day window from the date of the announcement to file all outstanding annual returns. Failure to comply within this period will result in their deregistration and removal from the Register of Companies.

This move is part of the Commission’s broader efforts to ensure compliance with regulatory requirements and to maintain an accurate and up-to-date registry of active companies in the country. 

Companies that find their names on the dormant list are advised to act promptly to regularize their status. 

The CAC has assured that the process of filing outstanding returns is straightforward and can be completed online via the Commission’s portal.