ATIKU PLEDGES SCHOLARSHIP TO VIRAL NIGER TEEN MINER. (PHOTO).

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 Atiku pledges scholarship to viral Niger teen miner Former Vice President Atiku Abubakar on Sunday said his “heart breaks” each time he watches a viral video of a teenage artisanal miner, Yusuf Aliyu, speaking at a mining site in Niger State after the deaths of 37 miners in the state. Atiku, in a statement posted on his X handle, said he was prepared to support the boy’s education, describing him as a child whose intelligence and confidence should be nurtured in a classroom rather than by working at a mining site. “I have watched Yusuf Aliyu’s video repeatedly, and each time, my heart breaks. A child with such intelligence, clarity and confidence should be in a classroom building his future—not struggling for survival in a community surrounded by gold but buried in poverty. “I cannot look at him and see an ‘illegal miner.’ I see a Nigerian child failed by the country that should have protected him. I see brilliance trapped by poverty and enormous promise abandoned by leadership,” ...
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CAC TO DELIST 100,000 DORMANT COMPANIES, ISSUES 90-DAY GRACE PERIOD FOR COMPLIANCE. (PHOTO).

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 CAC to Delist 100,000 Dormant Companies, Issues 90-Day Grace Period for Compliance


The Corporate Affairs Commission (CAC) has announced plans to strike off approximately 100,000 dormant companies from its register due to their failure to file annual returns for over a decade. The commission has granted these companies a 90-day grace period to submit all outstanding returns or face delisting, as outlined in a statement released on its official website and X account on Wednesday, July 24, 2024.


The CAC’s decision is in line with Section 692 (3) and (4) of the Companies and Allied Matters Act (CAMA) No. 3 of 2020, which empowers the commission to remove defunct or dormant companies that have not complied with annual filing obligations for 10 years. A comprehensive list of the affected companies has been published on the CAC’s website, www.cac.gov.ng, for public reference.


According to the CAC, companies that fail to file their outstanding annual returns within the 90-day window, starting from the date of the announcement, will be deemed dissolved and struck off the register. The commission emphasized that it is illegal to conduct business under the name of a delisted company, as such entities are legally considered dissolved. Companies that have complied with filing requirements but remain on the list are advised to submit proof of compliance to compliance@cac.gov.ng within 30 days to avoid erroneous delisting.


The CAC urged affected companies to file their returns and notify the commission via email at activation@cac.gov.ng to have their names removed from the delisting list. This move follows a similar initiative in December 2023, when the CAC announced plans to delist 91,843 companies, a figure later adjusted after some firms complied during an earlier grace period. As of November 2024, the commission had already delisted 80,429 companies, including notable names like Innoson “Vinod” International Limited and Jolly Food Industries Ltd, for non-compliance.


The CAC’s ongoing efforts aim to sanitize Nigeria’s corporate register, enhance transparency, and ensure that only active businesses remain on its database. Stakeholders are cautioned against engaging in transactions with delisted companies, as such actions are illegal without a Federal High Court order to restore the company’s status. The commission’s actions underscore its commitment to enforcing corporate governance and regulatory compliance in Nigeria’s business environment.

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