Nigeria’s Corporate Affairs Commission (CAC) has announced an extension of the deadline for companies to submit their annual returns, moving the date from January 1 to April 1, 2024. This decision comes in response to current glitches on the Company Registration Portal (CRP) and as a gesture of consideration for the Micro, Small, and Medium Scale Enterprises (MSME) sector.
In a statement, the CAC clarified that the extension follows their earlier notice on November 2, 2023, indicating the commencement of penalties outlined in the Companies and Allied Matters Act 2020 and the Companies Registrations 2021 for companies and their directors or officers failing to file annual returns.
“All entities registered under the Companies and Allied Matters Act (Companies, Limited Liability Partnerships, Limited Partnerships, Business Names, and Incorporated Trustees) are encouraged to take advantage of the window provided by this extension to file their annual returns to date with the Commission,” stated the CAC.
The Corporate Affairs Commission emphasised that the extension does not affect striking-off proceedings initiated before November 2, 2023. Companies, directors, and officers are cautioned that the CAC will proceed against the directors and officers of struck-off companies to recover undischarged penalties.
In addition, the CAC had previously threatened to delist over 100,000 inactive companies in July, citing their failure to comply with obligations. For further information and inquiries, the public is directed to visit the CAC website (www.cac.gov.ng) or contact the commission via email at cservice@cac.gov.ng; helpdesk@cac.gov.ng, or by phone at +234 708 062 9000.