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Key Highlights:
1. Annual Returns Mandate:
- He reiterates CAMA's requirement for companies to annually file returns with the Commission.
- He also highlights widespread non-compliance, prompting this stern reminder.
2. Upcoming Penalties:
- Starting January 1, 2024, the CAC will enforce penalties outlined in the Companies Regulations 2021 for non-compliance.
- Stresses the application of penalties against companies, directors, and officers failing to submit annual returns.
3. Compliance Window:
- Encourages defaulting companies, directors, and officers to seize the period between the announcement and January 1, 2024, to rectify non-compliance by promptly filing annual returns.
4. Recovery Measures:
- Alerts companies, directors, and officers that the CAC will pursue recovery of undischarged penalties against those associated with struck-off and wound-up companies.
Actionable Advice:
Companies operating in Nigeria should urgently prioritize compliance by filing annual returns before the looming January 1, 2024 deadline. Utilizing the provided window can help avoid severe penalties and potential delisting.
Connect with Beza Management Company:
As a licensed and accredited agency, Beza Management Company specializes in facilitating annual returns and company reactivation. We are well-equipped to guide you through this process, ensuring compliance with regulatory requirements. Stay tuned to our blog for further updates and valuable insights.
To Find out if your business is affected by this policy and what to do about it, connect with Beza Management via:
>> bit.ly/Beza34
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