WHAT IS YOUR BUSINESS STATUS ON THE CAC PORTAL?

HOW TO CHECK THE STATUS OF YOUR ENTITY ON THE CAC PORTAL.

Visit https://search.cac.gov.ng type in the name of the entity on the search bar. Click on the type of entity (Business name, Company, Incorporated Trustees, Limited Partnership, Limited Liability Partnership).

The status of your registered entity can be 'ACTIVE' or 'INACTIVE'

WHAT DOES INACTIVE STATUS ON THE CAC PORTAL MEAN?

Inactive status on the CAC Portal shows that your entity's records are not updated with the Corporate Affairs Commission and that your annual returns have not been filed up to date. It could also suggest that your business is not a going concern or it’s not operational.

WHAT ARE ANNUAL RETURNS TO CAC?

Annual Return is a statutory payment to the CAC by every registered entity to show that your entity is still a going concern. Read more on annual returns https://fathensoservices.com/blog/annual-return

EFFECT OF INACTIVE STATUS ON THE CAC PORTAL

• An Inactive status on the CAC portal suggests that your registered entity is not a going concern.
• CAC keeps a register of all registered entities that can be accessed on the public search portal.
• An investor or business prospect can easily check if a Business is duly registered or active on the public search portal and this may cause concerns if your entity is Inactive.
• Also, Some clients have disclosed they were denied visas because their business status was INACTIVE on the CAC portal as the immigration officer checked through the public portal and their business was inactive.
• Inactive status can also suggest your business is not operational, this could spell issues when applying for contracts, business opportunities and grants.

WHAT TO DO IF YOUR BUSINESS STATUS IS INACTIVE ON THE CAC PORTAL

File your annual returns with the Corporate Affairs Commission and update your records with the Corporate Affairs Commission.

CONCLUSION

If you are a registered business owner with the CAC then you need your business status to be active at all times. This can be done by filing your annual returns with the CAC and updating your records.

Inactive status can cause a loss of business opportunities as it suggests your business is not a going concern. Also, note failure to file annual returns for a consecutive period of 10 (ten years) could cost your registered entity to be delisted from the CAC register.

If your business is inactive on the CAC portal an accredited agent can help you file your annual returns with the Corporate Affairs Commission and activate your status.

Need to file your annual returns and activate your status with the CAC contact 09029926107 or send an email to info@fathensoservices.com

Written by Victory Aburime, ACIS