The government has announced that it will start the process of validating and striking off 2,812 entities that have been in default for more than five years because they haven’t filed their annual returns and financial statements by the end of June 2023.
The exercise would also affect charitable organizations, foundations, non-governmental organizations (NGOs), including international NGOs, and enterprises registered under corporations limited by guarantee, according to a statement from the Registrar of corporations, Jemima Mamaa Oware.
“Out of the earlier published list of 2,989 of these entities in default, only 116 have filed their Annual Returns together with their Financial Statements in other to be in good standing.
“The Public is being informed that from 30th June 2023, the ORC would, for the very first time, be fully implementing section 126 (7) of the Companies Act, 2019 (Act 992) which states that: ‘where a Company defaults in complying with the filing of Annual Returns and Financial Statements, the Company and every officer of the Company that is in default is liable to pay to the Registrar, an administrative penalty of Twenty-Five (25) penalty units for each day during which the default continues,” parts of the statement read.
The names of some of the organizations whose names are most likely to be omitted are listed below;
