CAC gives insolvency practitioners deadline for renewal, re-registration

The Corporate Affairs Commission, CAC, has mounted December 1, 2026, because the deadline for the necessary 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 apply is legitimate for three years and have to be renewed upon expiration.

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

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

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

It added that new certificates that includes enhanced safety features can 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 purposes on-line by way of its insolvency portal.

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