The Corporate Affairs Commission, CAC, says it deregistered more than 400,000 inactive companies in 2025 as part of efforts to strengthen the integrity of Nigeria’s corporate registry and protect the economy from misuse of dormant entities.
Registrar-General of the CAC, Hussaini Ishaq Magaji, SAN, disclosed this on Saturday in Abuja during the Commission’s monthly fitness walk, held as part of activities marking CAC’s 35th anniversary.
According to Magaji, many of the affected entities had failed to file statutory annual returns and were no longer operational, thereby posing risks to economic transparency and investor confidence.
“In 2025 alone, we deregistered over 400,000 companies from our records. These were largely shell companies that had become inactive and failed to meet statutory obligations, including filing annual returns. Such entities pose threats to economic operations, so we had to clean up the register,” he said.
He explained that maintaining a credible and up-to-date companies register is crucial for attracting investment and ensuring transparency in business operations.
Magaji described the anniversary walk as symbolic, highlighting the Commission’s transformation over the past 35 years from a manual, office-bound agency to a fully digital service provider.
“CAC has come a long way, from manual operations confined to a single office to a fully digital organisation providing services globally. Today, our services are accessible anywhere, anytime, 24/7,” he noted.
He added that the Commission now serves millions of Nigerians and businesses without requiring physical visits to its offices, thereby supporting the federal government’s ease-of-doing-business reforms.
The Registrar-General also highlighted CAC’s collaboration with the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, to support small businesses.
He said the Commission facilitated the free registration of 250,000 Micro, Small and Medium Enterprises, MSMEs, in 2025 through SMEDAN to ensure beneficiaries also receive training and business support.
“Our goal was not just to register businesses but to help them grow. That is why the registrations were channelled through SMEDAN, which provides training and capacity support to entrepreneurs,” he explained.
Magaji further noted that the Commission has operationalised Nigeria’s Beneficial Ownership Register, allowing authorities and stakeholders to identify individuals who ultimately own or control companies operating in Nigeria.
“This promotes transparency and accountability. Anyone seeking to know the true owners behind a company can access this information through the register,” he said.
On staff welfare, the CAC boss announced plans to establish a healthcare facility for employees in 2026, alongside expanded welfare programmes.
He said the Commission has improved staff morale through career progression opportunities, prompt settlement of staff entitlements, and the introduction of housing and car loan schemes.
“These welfare initiatives are aimed at boosting staff morale and ensuring improved service delivery,” Magaji added.
The anniversary walk, attended by management and staff members, formed part of activities celebrating the Commission’s milestones since its establishment in 1991.
