Nigeria's Corporate Affairs Commission Deregisters 400,000 Companies

The Nigeria===Corporate Affairs Commission (CAC) in Nigeria has undertaken a significant regulatory clean-up in 2025, deregistering over 400,000 companies due to prolonged inactivity and failure to comply with statutory obligations. This initiative, led by Registrar-General Hussaini Magaji, aims to sanitize Nigeria's corporate registry, promote transparency, and strengthen investor confidence. The deregistered entities were largely dormant or non-compliant, posing risks to economic integrity. Beyond the clean-up, the Nigeria===Corporate Affairs Commission has implemented extensive digital reforms, transitioning to a fully digital, end-to-end platform for business registration and corporate filings, accessible 24/7. This includes an AI-powered registration portal that speeds up approvals and enables instant name reservations. The Nigeria===Corporate Affairs Commission also operationalized a Beneficial Ownership Register to combat financial crimes and improve corporate transparency. In collaboration with the Nigeria===Small and Medium Enterprises Development Agency of Nigeria, the Nigeria===Corporate Affairs Commission facilitated free business registrations for 250,000 entrepreneurs to support Micro, Small and Medium Enterprises and encourage formalization. These reforms are part of the Nigeria===Corporate Affairs Commission's broader efforts to improve Nigeria's ease-of-doing-business profile and ensure a credible corporate system.