The Corporate Affairs Commission (CAC) in a bid to strengthen transparency, accountability and compliance within Nigeria’s corporate environment, will begin enforcement and mandatory disclosure of directors’ details on company business letters from August 1, stating that defaulting companies will face sanctions. 

CAC disclosed this in a public notice issued on Wednesday, noting that the enforcement would cover Sections 304(1) and (2) and 729(1)(c) of the Companies and Allied Matters Act (CAMA) 2020.

According to the statement, “All companies registered under CAMA 2020, or any law repealed by the Act are required to include specified corporate information on their business letters.

“Companies must prominently display their registered name, registered office address on all business correspondence.

Business letters must also contain the present first names or initials and surnames of every director, any former first names and surnames, as well as the nationality of directors who are not Nigerian citizens. 

“The Commission wishes to inform the general public, esteemed customers, and in particular, companies registered under the Companies and Allied Matters Act 2020 (or any enactment repealed by the Act), that commencing from August 1, 2026, it shall enforce the full application of the requirements of Sections 304(1) and (2) and 729(1)(c) of the Act with attendant sanctions for non-compliance,” the notice stated.

It added that, all affected companies should review their business stationery and official correspondence to ensure full compliance before the commencement of enforcement.

The enforcement, it stated, forms part of the CAC’s broader efforts to improve corporate governance and promote greater confidence in Nigeria’s business environment through strict adherence to the provisions of CAMA 2020.

Source: The Nation News