CAC gives insolvency practitioners deadline for renewal, re-registration
The Corporate Affairs Commission, CAC, has fixed December 1, 2026, as the deadline for the mandatory renewal and re-registration of accreditation for insolvency practitioners in Nigeria. The commission warned that practitioners whose accreditation is due for renewal risk automatic suspension if they fail to complete the process by the deadline. The directive was contained in […] CAC gives…
The Corporate Affairs Commission (CAC) in Nigeria has set December 1, 2026, as the deadline for insolvency practitioners to renew and re-register their accreditation. Insolvency practitioners who fail to complete the process by this deadline risk automatic suspension of their accreditation, according to the CAC's public notice. This directive stems from Section 705 of the Companies and Allied Matters Act (CAMA) of 2020 and Regulation 1.07 of the Insolvency Regulations of 2022.
The CAC explained that accreditation for insolvency practice is valid for three years, necessitating renewal upon expiration. Practitioners who neglect to renew their accreditation by the set date would be barred from taking on new insolvency assignments or continuing existing ones. In addition to renewal, all accredited insolvency practitioners are required to undergo re-registration.
This additional step aims to facilitate the CAC's automation process and update identification records in accordance with the National Identity Management Commission Act of 2026. Upon successful re-registration, practitioners will receive new certificates featuring enhanced security features.
The CAC has instructed all affected practitioners to complete their renewal and re-registration applications online via its insolvency portal. It emphasized the urgency of compliance to prevent disruptions to professional practice.
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