Over 400,000 inactive companies have been de-listed from the Corporate Affairs Commission’s(CAC) registry in 2025, its Registrar-General,Hussaini Ishaq Magaji, has said.
He said this on Saturday, in Abuja, shortly after the Commission’s monthly fitness walk, which was part of activities to mark CAC’s 35th anniversary.
He said the delisted companies were threats to the Nigeria’s economy.
He explained that maintaining a credible and up-to-date companies register was crucial to attracting investment and ensuring transparency in business operations.
According to him, this move would shore up investors confidence as they would know that CAC has credible register.
Commenting on the 35th anniversary of CAC, Magaji said the Commission has transformed its operations from manual to digital.
He said: “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 added that the Commission now serves millions of Nigerians and businesses without physical visits to its offices across the country, thereby supporting the Federal Government’s ease-of-doing-business reforms.
He further highlighted CAC’s partnership with the Small and Medium Enterprises Development Agency of Nigeria(SMEDAN), in the registration of Small and Medium Enterprises(SMEs) in Nigeria.
He disclosed that the Commission in collaboration with the SMEDAN registered about 250,000 small businesses and ventures in 2025.
He further noted that the Commission has operationalised Nigeria’s Beneficial Ownership Register, which allows individuals and organisations to identify owners of 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.
Speaking on staff welfare, the CAC boss announced plans to establish a healthcare facility in 2026 for CAC employees and retired staff.
He said the Commission has improved staff morale through career progression opportunities, settlement of staff entitlements, and the introduction of housing and car loan schemes.
He assured that he would not relent until CAC becomes a world-class organisation and Grade A Agency among agencies of the Federal Government.