CAC gives insolvency practitioners deadline for renewal, re-registration

The Corporate Affairs Commission, CAC, has fastened December 1, 2026, because the deadline for the obligatory renewal and re-registration of accreditation for insolvency practitioners in Nigeria.

The fee warned that practitioners whose accreditation is due for renewal threat automated suspension in the event that they fail to finish the method by the deadline.

The directive was contained in a public discover issued by the CAC Management, which cited Section 705 of the Companies and Allied Matters Act, CAMA, 2020, and Regulation 1.07 of the Insolvency Regulations, 2022, because the authorized foundation for the train.

According to the fee, accreditation for insolvency follow is legitimate for three years and should be renewed upon expiration.

It acknowledged that practitioners who fail to resume their accreditation on or earlier than December 1, 2026, could be ineligible to undertake new insolvency assignments or proceed present ones.

The CAC additionally directed all accredited insolvency practitioners, together with these whose accreditation stays legitimate, to bear re-registration.

The fee defined that the extra requirement was essential to help its end-to-end automation course of and replace identification information in keeping with the National Identity Management Commission, NIMC, Act, 2026.

It added that new certificates that includes enhanced safety features could be issued to practitioners upon profitable completion of the re-registration course of.

The CAC directed all affected practitioners to finish their renewal and re-registration functions on-line by means of its insolvency portal.

The fee urged all affected practitioners to adjust to the directive promptly to keep away from disruptions to their skilled follow.