RGD takes off 2,788 companies from register
41 companies voluntarily owned up for delisting
Second phase of delisting exercise to take place in February 2022
The Registrar General’s Department (RGD) has delisted some 2,788 firms from its companies register for failing to file their Annual Returns with the Department.
The development comes after the RGD issued a directive in 2021 requesting that these companies comply about filing their Annual Returns or risk being delisted from the companies register.
A statement issued by Department explained, “Names of these companies which were earlier published on the Department’s website and in the national dailies were part of the first batch of over 100,000 defaulted and dormant companies the Department had earmarked to struck off the Companies Register as part of its clean-up exercise.”
“These Companies include Companies Limited by Share: 1,374, Companies Limited by Guarantee (Churches, Fun Clubs, Associations, Union, Schools, etc.): 978, External Companies: 41 and Others (Voluntarily owned up Companies for delisting): 395,” the statement revealed.
The Department further said the exercise was carried out in accordance with Section 289 of the Companies Act 2019 (Act 992).
This meant that a company can be taken off the companies register for failing to file its Annual Returns on time or failing to notify the Registrar of Companies of a change in the company’s registered office and principal place of business.
The RGD is however urging defaulting and dormant companies whether in operations or not, whose names do not appear on the first batch of deleted companies, to file their Annual Returns by June 30, 2022.
This, it explained, is to avoid them from being removed from the company’s register in the second phase of the delisting exercise which is expected to take place in February 2022.
“Furthermore, Companies and Businesses which are yet to carry out updates of their records with the Department dubbed ‘re-registration’ have from 5th January to 31st December, 2022 to update their records with the Department. These over 500,000 Companies Entities and Business Names include those registered between 1960 to 2011,” it added.