The Corporate Affairs Commission has struck out more than 400,000 inactive and non-compliant companies from Nigeria’s official register in 2025 as part of a sweeping reform drive to sanitise the corporate space and strengthen investor confidence.
The Registrar-General of the commission, Hussaini Magaji, disclosed this on Saturday in Abuja during a “Celebration Walk” organised by the agency, saying the mass delisting was aimed at protecting the integrity of the national companies database and ensuring that only active and compliant entities operate within the formal economy.
“In 2025 alone, the commission deregistered over 400,000 companies. This exercise is part of our commitment to clean up the register and rid it of dormant and non-compliant entities,” Magaji said.
He explained that the CAC had completed a full transition from a manual, location-based registry to a fully digital, end-to-end service provider, allowing Nigerians at home and in the diaspora to register businesses remotely without visiting any CAC office.
“Today, CAC provides services anywhere, anytime, 24 hours a day. You can register your business from your room without coming to our offices,” he added.
Magaji said the digital reforms had significantly improved Nigeria’s ease-of-doing-business ranking, boosted transparency in corporate regulation and restored confidence in the business environment.
He further disclosed that the commission, in partnership with the Small and Medium Enterprises Development Agency of Nigeria, facilitated free business registrations for 250,000 entrepreneurs to reduce the cost of formalisation and encourage small businesses to operate within the regulated economy.
The registrar-general also revealed that the commission had operationalised a Beneficial Ownership Register, enabling the public to identify the ultimate owners of companies operating in Nigeria ,a move he described as a major milestone in the fight against corruption, money laundering and other financial crimes.
According to him, the register has since become a global reference point for corporate transparency, positioning Nigeria as a leader in corporate governance reforms across Africa.
'
'Do you want to share a story with us? Do you want to advertise with us? Do you need publicity for a product, service, or event? Contact us on WhatsApp +2348183319097 Email: platformtimes@gmail.com
We are committed to impactful investigative journalism for human interest and social justice. Your donation will help us tell more stories. Kindly donate any amount HERE
