— Says Commission Has No Power To ‘Delete’ Any Corporate Entity Under CAMA, 2020
The Corporate Affairs Commission (CAC) has issued a disclaimer with regards a tabloid news making rounds on social media, that the commission has threatened to ‘delete and deem as non-existent’ any Company, Business Name, or Incorporated Trustee who fails to ‘validate’ its account on or before the 31st of March, 2021.
The Commission also described as false the directive in the said write-up noting that the validation is expected to be done using a paid service on search.cac.gov.ng and any feedback to be sent to email@example.com.
In a statement made available to ASKLEGALPALACE, the CAC affirmed that corporate entities cannot be ‘deleted by the commission as such would be against the ‘letter and spirit’ of the Corporate And Allied Matters Act, 2020, noting that any form of dissolution or removal of any business name from its register can only be done in accordance with the provisions of CAMA, of which deletion isn’t a part of.
“The Commission wishes to state categorically that it did not issue or direct the use of any request for Companies, Business Names or Incorporated Trustees to “validate” their accounts with the commission. Further, the Commission does not “delete” registered entities.
Companies and Incorporated Trustees may only be dissolved [with or without liquidation] and Business Names removed from the Register only in accordance with the procedure prescribed in the Company And Allied Matters Act [CAMA], 2020, and none of these procedure includes “deletion”, the statement reads in part.
However, the CAC pointed out in the said statement that the directive which the commission had on the 11th of January, 2021, released was it regards the need for corporate entities to confirm their current Information with the commission via https://search.cac.gov.ng using the paid service interface and further any feedback to spu.cac.gov.ng. and the need to confirm the status of such corporate entities was based on the annual return filings and nothing more.
The CAC however advised its customers to always confirm any form of information from the official website of the Commission, www.cac.gov.ng