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NIGERIA’S CORPORATE WATCHDOG DELISTS 400,000 FIRMS IN LANDMARK REGISTRY OVERHAUL
By PRESSCODE NEWS
ABUJA, NIGERIA. 9TH FEBRUARY 2O26
The Corporate Affairs Commission has undertaken one of the most comprehensive corporate registry cleanups in Nigeria’s history, removing over 400,000 companies from its official business register in a sweeping effort to restore integrity to the nation’s corporate database.
Registrar General Hussaini Magaji announced the development during a celebration event in Abuja, describing the mass delisting as essential to maintaining accurate records and ensuring only compliant, active enterprises remain on the register. The move targets dormant companies and those failing to meet statutory filing requirements.
The commission has simultaneously launched a fully digitalised registration system, enabling entrepreneurs to establish businesses remotely without the traditional bureaucratic hurdles. This transformation marks a significant departure from previous practices that often required physical appearances at CAC offices.
In partnership with the Small and Medium Enterprises Development Agency of Nigeria, the CAC is offering free registration to 250,000 small businesses. The initiative aims to reduce barriers to formalisation and bring more enterprises into the regulated economy, where they can access financing and legal protections.
Perhaps most notably, the commission has introduced a beneficial ownership register, allowing public scrutiny of corporate ownership structures. This transparency measure has garnered international recognition for its potential to combat financial crimes and enhance corporate accountability.
An artificial intelligence powered portal now streamlines the business name registration process, promising faster approvals and reduced administrative delays. The technological upgrade represents the commission’s commitment to modernising Nigeria’s business registration infrastructure.
PRESSCODE NEWS INSIGHT
These reforms signal a fundamental shift in how Nigeria approaches corporate governance. By simultaneously tightening compliance whilst reducing legitimate barriers to entry, the CAC is attempting a delicate balancing act. The success of these measures will largely depend on consistent implementation and the commission’s ability to maintain standards as it scales operations. For Nigeria’s business community, the message is unmistakable. The cost of formalisation is decreasing, whilst the risks of non-compliance are rising substantially.
PRESSCODE NEWS
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