Corporate Affairs Commission has threatened to delist over 100,000 inactive companies on its database, on account of failure to comply with the commission’s obligations.
He said names of the companies will be published on CAC’s website, and the offenders given a four-week ultimatum to comply, failing which they will be “struck off from the register”. “We have compiled the first list of 100,000 companies, and they will be published on our website before the end of this week. They will be giving four weeks.
The registrar further warned that provision of incorrect information at point of registration attracts a two-year jail term.
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