Deadline on Issuance of Unissued Shares
The Honourable Minister of Industry, Trade and Investment, through the Corporate Affairs Commission (“CAC”), has extended the initial deadline for existing companies to fully issue any unallotted share capital to 31 December 2022. Regulation 13 of the Companies Regulations, 2021 had fixed an initial deadline of 30 June 2020 for all companies in Nigeria to comply with this requirement.
In furtherance of these Regulations, the CAC has declared that any unissued share capital after 31 December 2022 will be derecognized from a company’s share capital until such shares are re-issued or reduced.
Our Corporate Services desk is available to seamlessly assist your company with meeting this compliance deadline.