24/01/2025
𝗪𝗵𝗮𝘁 𝗵𝗮𝗽𝗽𝗲𝗻𝘀 𝘄𝗵𝗲𝗻 𝘆𝗼𝘂𝗿 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗻𝗮𝗺𝗲/𝗖𝗼𝗺𝗽𝗮𝗻𝘆 𝗻𝗮𝗺𝗲 𝗴𝗲𝘁𝘀 𝗱𝗲𝗹𝗶𝘀𝘁𝗲𝗱 𝗼𝗻 𝗖𝗔𝗖 𝗿𝗲𝗴𝗶𝘀𝘁𝗿𝘆/𝗽𝗼𝗿𝘁𝗮𝗹?
When your business or company name gets delisted from the Corporate Affairs Commission (CAC) registry or portal, it typically means that your business is no longer legally recognized as an active entity by the CAC. This can happen for various reasons, including failure to meet filing requirements, non-payment of fees, or if the business has been struck off due to inactivity or other legal issues.
The consequences of being delisted can include:
𝙇𝙤𝙨𝙨 𝙤𝙛 𝙇𝙚𝙜𝙖𝙡 𝙎𝙩𝙖𝙩𝙪𝙨: The company will no longer be able to operate legally. It would face difficulties entering into contracts, opening or operating bank accounts, or participating in formal business activities.
𝙄𝙣𝙖𝙗𝙞𝙡𝙞𝙩𝙮 𝙩𝙤 𝘾𝙤𝙣𝙙𝙪𝙘𝙩 𝘽𝙪𝙨𝙞𝙣𝙚𝙨𝙨: You will be unable to carry out certain business transactions, like bidding for government or private organizations contracts, and it will affect the credibility of your business.
𝙁𝙞𝙣𝙚𝙨 𝙤𝙧 𝙋𝙚𝙣𝙖𝙡𝙩𝙞𝙚𝙨: If the delisting is due to non-compliance (such as failing to file annual returns), there will be fines or penalties involved for the business to be reinstated.
𝙇𝙤𝙨𝙨 𝙤𝙛 𝙋𝙪𝙗𝙡𝙞𝙘 𝙏𝙧𝙪𝙨𝙩: Clients, suppliers, and partners will see the delisting as a sign of financial instability or mismanagement, which can harm the business's reputation.
To reinstate a delisted business/company, you'd need to fulfill the necessary compliance requirements, such as going through a Court process, paying outstanding fees and several penalty fees.
Contact Us for ALL your Business/Company/NGO Registrations & Post-Incorporation Services(Annual Returns, Redownload of lost documents etc) with CAC, TIN Certificate(JTB & FIRS), Bankable Business Plans, SMEDAN Certificate, SCUML Certificate, Trademark Registrations, Non-Oil Export Certificate.