Corporate Affairs Commission to Delist Chisco Transport Nig Ltd, 10,000 others

By Emmanuel Kwada

The Corporate Affairs Commission (CAC) is set to delist over 10,000 companies, including Chisco Transport Nig Ltd, that have failed to file their annual returns for the past decade.

The Commission announced in a statement on Wednesday that it had published the list of affected companies on its website, warning that it was illegal to continue operating under a delisted name.

“This is to inform the general public that the commission pursuant to its powers contained in Section 692 (3) (4) of the Companies and Allied Matters Act No. 3 of 2020, intends to strike off from the Register, names of defunct or dormant companies that have not filed Annual Returns for a period of 10 years,” the statement partly read.

The Commission gave the companies 90 days from the date of the announcement to file all outstanding annual returns so as to remove their names from the list.

“It is to be noted that it is illegal to carry on business with the name of a company that has been delisted from the register as such company is deemed to be dissolved,” the statement added.

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