Registrar-General of the Corporate Affairs Commission (CAC) Alhaji Garba Abubakar has urged registered companies to always file returns to the commission to avoid deregistration.
Alhaji Abubakar, told newsmen in Abuja, that registered companies must file annual returns as required by law.
He said CAC would compel registered companies to comply with the policy or be deregistered.
The Registrar-General explained that it was through return filing by companies that the commission was able to know which companies are active and which ones were inactive.
”It is not enough that people registered companies, there is the need to always file returns to achieve meaningful growth”. Alhaji Abubakar stated.
Alhaji Abubakar said that CAC would prioritize filing of returns as one of the ways to also improve its internally generated revenue.
“We hope companies will update their records, after 18 months if you do not file your next return, then it will go back to inactive, so the revenue will continue to grow. You can strike them off. The law now says it must be five-years. You have to wait for five years” He stated.
Alhaji Garba Abubakar called on companies making money everyday to file returns to the commission.
RN