By Matthew Denis
The Registrar-General of the Corporate Affairs Commission (CAC), Mr. Hussaini Magaji, has revealed that the commission deregistered over 400,000 companies in 2025.
Speaking during a “Celebration Walk” in Abuja to mark the commission’s 35th anniversary, Magaji explained that the move was necessary to purge the national database of inactive and non-compliant entities that posed a threat to the economy.
According to the Registrar-General, the struck-off companies had failed to file annual returns, creating a lack of transparency in the corporate sector.
“We did it to create confidence in our investors, ensuring they know we maintain a credible and integrity-driven register here at the CAC,” he stated.
The anniversary event served as a platform for Magaji to reiterate the commission’s commitment to digital transformation.
He highlighted the CAC’s evolution from a manual, location-based registry to a fully digital, 24-hour end-to-end service provider. This shift allows entrepreneurs to register businesses remotely from anywhere in the world, significantly improving the ease of doing business in Nigeria.
Beyond database cleanup, the Registrar-General emphasized the commission’s support for Micro, Small, and Medium Enterprises (MSMEs).
In a major collaborative effort with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the CAC facilitated the free registration of 250,000 entrepreneurs.
This initiative aimed to reduce the cost of formalization and bring more small businesses into the regulated economy.
Magaji also pointed to the operationalization of the Beneficial Ownership Register as a landmark achievement.
The register, which allows the public to identify the ultimate owners of companies, has become a global reference point in the fight against financial crimes and the promotion of corporate accountability.
The celebration also highlighted internal reforms aimed at staff development.
Magaji announced new welfare packages, including housing and vehicle loan schemes, and plans for a dedicated health facility for both serving and retired personnel.
He credited the commission’s 35 years of success to the resilience and dedication of its workforce in serving Nigeria’s population of over 200 million.
The event concluded with fitness activities and a walk, symbolizing the commission’s renewed energy in its role as the nation’s primary corporate regulator.