Commission to de-list 50,000 firms

THE Corporate Affairs Commission (CAC) said in Abuja, yesterday, that it was on the verge of de-listing 50,000 companies from its register.The Special Adviser to the Registrar General of the CAC, Ahaji Garba Abubakar, told the News Agency of Nigeria, that the companies were yet to meet the provisions of the Companies and Allied Matters Act 1990 and would be de-listed.According to him, the dormant companies have failed to file their yearly returns as required by the commission.The companies are before the board for approval before they are finally de-listed from the register, he said.He explained that the commission had so far sent letters to the dormant companies, notifying them of the decision to strike off their names from the register.Abubakar also hinted that the bulk of the letters were returned to the commission unclaimed as their addresses could not be located, adding that some of them used fake addresses.According to him, the commission had in the past, published the list of companies in national dailies in to afford them the opportunity to file their returns.He said the commission would now resort to radio and television announcements because of the cost of publishing such lists in national dailies.
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