Do you know that you can lose a multi-million naira or dollar contract simply by failing to file annual returns? Organizations abroad take business records seriously before signing any contract. Filing annual returns for your company or business is not only a way to generate revenue for the government, but it is also proof of … Read more
Again, the Corporate Affairs Commission (CAC) has threatened to permanently delete the names of companies and businesses that have not filed annual returns in the last 10 years. CAC, which is mandated by law to register businesses in Nigeria, maintains a register that contains the comprehensive record of registered businesses in the country. What is … Read more
The Corporate Affairs Commission (CAC), a government agency responsible for business registration, is collaborating with Opay Services Ltd, a financial technology company, to help 300,000 unregistered businesses become legal entities. This partnership aims to bring Opay agents into compliance with regulations and provide them with the benefits of formal recognition. The Registrar-General and CEO of CAC, … Read more
The Company and Allied Matters Act (CAMA), 2020 requires all Non-Governmental Organizations (NGOs) operating in Nigeria to file and submit an annual return to the Corporate Affairs Commission (CAC). This article explains the filing of annual returns by not-for-profit organizations in Nigeria, the documents the NGO must present, and the penalties that may apply for … Read more
With its establishment in 1990 by the Companies and Allied Matters Act during the regime of former military President Ibrahim Badamosi Babangida, the Corporate Affairs Commission (CAC) is now the first point of call for business owners who want to give their enterprise or limited liability company a legal backing. We’ll tell you more about … Read more
What is Annual Return Filing? An annual return is a yearly update of a registered company or business in the Corporate Affairs Commission (CAC) database, indicating that the business is still active, operating, and in compliance with the law. Filing annual returns in Nigeria is not about declaring a company’s profits, nor is it a … Read more
If you registered a company with the Corporate Affairs Commission and you failed to file a return every year, your company status will change to “inactive”. If the status of your company or business is “inactive”, the issue is resolvable. We’ll guide you on how to change your status to “active” on CAC portal. Before … Read more