Infostride News reported that the Corporate Affairs Commission (CAC) has approved an extension for companies to submit their annual returns, extending the deadline from January 1 to April 1, 2024. The announcement, made on December 28, 2023, revealed that the extension was necessitated by glitches on the Company’s Registration Portal (CRP) and in consideration of the challenges faced by Micro, Small, and Medium Scale Enterprises (MSMEs).
In a circular released by Infostride News, it was mentioned that the CAC had initially expressed its intention to delist a significant number of companies – precisely 91,843 – by the end of the month due to their failure to comply with the annual returns submission requirement on the commission’s website.
However, Infostride News highlighted that companies falling within the category of the original deadline of January 1, 2023, would not incur penalties, as the deadline has been extended to April 1, 2024. The CAC emphasized that penalties for non-compliance would only apply after the extended deadline.

In an official statement, Infostride News conveyed the Commission’s call to companies, urging them to utilize the extended window to submit their annual returns promptly. The statement read, “Further to its earlier notice on Thursday, 2nd November 2023, informing the General Public that it shall commence the full application of the penalties prescribed by the Companies and Allied Matters Acts 2020 and the Companies Registrations 2021 against Companies and each of their Directors or Officers for failures to file annual returns, the Commission hereby extends the commencement date from 1st of January 2024 to 1st of April 2024.”
Infostride News also brought to light the challenges faced by the Company Registration Portal (CRP), which led to the extension, and the commission’s responsiveness to appeals from the MSME sector. The circular further urged all entities registered under the Companies and Allied Matters Act to make use of this extension and submit their annual returns by the revised deadline.
Infostride News noted that the extension does not apply to companies already undergoing striking-off proceedings before the initial notice on November 2, 2023. The statement clarified, “The General Public should please note that this extension of time does not affect the striking-off proceedings commenced by the Commission before the publication of Thursday, 2nd of November 2023.”
Providing context to the situation, Infostride News recalled that in November, the CAC had initially announced its intention to delist a substantial number of companies, amounting to 91,843, from its register due to their failure to adhere to the annual returns filing requirement.
The publication of the list on the commission’s website showcased the names of the affected companies, reflecting a reduction from the initial 94,581 names published in August. This figure was also less than the 100,000 companies initially earmarked for removal, as announced in June by the CAC.
As companies navigate these regulatory challenges, Infostride News emphasized the importance for businesses, especially MSMEs, to adhere to the extended deadline for annual returns submission. The additional time granted by the CAC offers a reprieve for companies to meet their obligations without incurring penalties and potential delisting from the register. This development underscores the dynamic nature of regulatory frameworks and the need for adaptability within the business landscape.
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