The Registrar-General’s Department (RGD) has delisted 2,788 companies from its Companies Register for defaulting to file their annual returns with the department.
These defaulted companies failed to comply with the directive issued by the department to file their annual returns or risk being delisted from the Companies Register.
Names of these companies which were earlier published on the department’s website and in the national dailies were part of the first batch of over 100,000 defaulted and dormant companies the department had earmarked to struck off the Companies Register as part of its clean-up exercise.
These companies include companies limited by share: 1,374, companies limited by guarantee (Churches, Fun Clubs, Associations, Union, Schools etc.): 978, external companies: 41 and others (Voluntarily owned up companies for delisting): 395.
This exercise was carried out in accordance with section 289 of the Companies Act 2019 (Act 992) which connotes that a company can be stricken off the Companies Register for failing to file its annual returns on time or failing to notify the Registrar of Companies of a change in the Company’s Registered Office and Principal Place of Business.
A statement issued on Wednesday (12 January) by the Registrar-General’s Department (RGD) said, “The Department by this release urges all defaulting and dormant Companies whether in operations or not, whose names do not appear on the first batch of deleted companies to file their Annual Returns by June 30 2022 to avoid being removed from the Companies Register in phase two of the delisting exercise which begins in earnest in February 2022.”
“Furthermore, Companies and Businesses which are yet to carry out updates of their records with the Department dubbed ‘re-registration’ have from 5 January to 31 December 2022 to update their records with the Department. These over 500,000 companies entities and business names include those registered between 1960 to 2011,” the statement added.