‘I’LL TURN OFF THE MIC’ — REMI TINUBU REINS IN ADELEKE’S SINGING AT OONI’S ANNIVERSARY. (VIDEO/PHOTO).

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 ‘I’ll turn off the mic’ — Remi Tinubu reins in Adeleke’s singing at Ooni’s anniversary First Lady Oluremi Tinubu cautioned Ademola Adeleke, the Osun state governor, for prolonged singing during his remarks at the 10th coronation anniversary celebration of Adeyeye Ogunwusi, the Ooni of Ife. The moment, captured in a now-viral video, occurred as the governor mounted the podium on Sunday to pay tribute to the monarch and to congratulate the Remi on her newly bestowed chieftaincy title, Yeye Asiwaju Gbogbo Ile Oodua. Rather than proceed immediately with his formal message, Adeleke, popularly known as the “Dancing Governor” for his spirited public appearances, burst into a short musical chant, drawing laughter from parts of the audience. Remi, who had moments earlier received her traditional title from the Ooni, walked towards the podium, gestured lightly to the governor, and whispered to him to proceed with his statement. “Go ahead,” she was heard saying, in an attempt to steer the ev...
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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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