By Emmanuel Gbadebo
The Registrar-General of Corporate Affairs Commission (CAC), Mr. Hussaini Magaji has disclosed that the commission has deregistered over 400,000 companies from it system in 2025 year.
The RG stated this during a “Celebration Walk” organised by the commission in Abuja on Saturday.
He said ” we have deregistered over 400,000 companies from our system these are companies are inactive and have become threat to the economy.
” These are share companies that are inactive and fail to file returns, posing a threat to the economy. We did it to create confidence in our investors for them to know that we have credible registers here in CAC. “
Magaji reiterated that they are commitment towards digital transformation and support for Micro, Small and Medium Enterprises (MSMEs) as it marks its 35th anniversary.
He said that the commission had evolved from a manual, location-based registry into a fully digital, end-to-end service provider, delivering corporate registration services to Nigerians at home and abroad.
According to him CAC’s digital reforms had significantly improved ease of doing business, noting that entrepreneurs can now register businesses remotely without visiting any CAC office.
“Today, CAC provides services anywhere, anytime and 24 hours a day. You can register your business from your room without coming to our offices,” he said.
The registrar-general said that the reforms had strengthened confidence in Nigeria’s business environment and enhanced transparency in corporate regulation.
He said that in 2025 alone, the commission de-registered over 400,000 companies, in a bid to clean up its database from inactive and non-compliant entities.
The CAC boss said that the move was also to protect the integrity of the national companies register.
On MSME support, Magaji said that CAC facilitated free business registrations for 250,000 entrepreneurs in collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).
He described the exercise was part of the commission’s intervention to support small businesses.
According to him, the initiative is aimed at reducing the cost of formalisation and encouraging small businesses to operate within the regulated economy.
The registrar-general also said that the commission had operationalised a Beneficial Ownership Register to promote transparency and accountability by enabling the public to identify the ultimate owners of companies operating in Nigeria.
He said that the register had become a global reference point for corporate transparency and efforts to combat financial crimes.
The CAC boss said that staff welfare remained a priority of the commission.
He announced the introduction of housing and vehicle loan schemes, as well as plans to establish a health facility to cater for serving and retired staff.
He said that the anniversary celebration also showcased the commission’s teamwork, resilience and commitment to service delivery.
“The strength you see here today represents our workforce and their dedication to serving over 200 million Nigerians,” he said.
The highlights of the event was a show of staff fitness walk and other activities to commemorate the commission’s 35 years of corporate regulation and reform.
