What are the annual filing requirements for registered businesses?
In 2026, the annual filing requirements for businesses in Nigeria have become more stringent, particularly regarding the enforcement of daily penalties. Compliance is now split into two main tracks: Corporate Affairs Commission (CAC) and Nigeria Revenue Service (NRS).
1. CAC Annual Returns (Status Maintenance)
This is not a tax. It is a report to confirm that your entity is still active.
- Business Names: Must file by June 30th every year (except the year of registration).
- Companies (LTD): Must file within 42 days after your Annual General Meeting (AGM).
- Exemption: New companies do not need to file their first return until 18 months after incorporation.
- Incorporated Trustees (NGOs): Must file between June 30th and December 31st.
Documents Required:
- Small Companies: A "Statement of Affairs" (a simplified financial snapshot).
- Standard/Large Companies: Full Audited Financial Statements signed by a licensed auditor and directors.
- PSC Information: You must provide details of Persons with Significant Control (anyone owning 5% or more).
2. NRS (Tax) Annual Filings
Under the Nigeria Tax Act 2025, your tax filing is separate from your CAC returns.
- Deadline: 6 months after your company's financial year-end (e.g., if your year ends Dec 31, your deadline is June 30).
- Small Companies (< ₦100m): Even though you pay 0% CIT, you are still required to file a "Nil Return" to maintain your tax-exempt status.
- Standard Companies (> ₦100m): Must file a full tax computation and pay the 30% CIT.
3. The "Cost of Silence" (2026 Penalties)
The 2026 enforcement regime is aggressive. Unlike previous years where penalties were flat fees, they are now often cumulative:
| Entity Type | Annual Filing Fee | Late Filing Penalty (Annual) | Daily Penalty (Enforced in 2026) |
|---|---|---|---|
| Business Name | ₦5,000 | ₦5,000 | Variable (approx. ₦100+) |
| Small Company | ₦5,000 | ₦5,000 | ₦250 per day |
| Standard Company | ₦5,000 | ₦10,000 | ₦500 per day |
Critical Note: In 2026, daily penalties apply to the Company, every Director, and the Secretary separately. A delay of 3 months for a company with 2 directors can result in a fine exceeding ₦200,000.
4. Consequences of Non-Filing
- "Inactive" Status: Your business will be marked "Inactive" on the public CAC search portal, which causes banks to freeze accounts.
- No Post-Incorporation Changes: You cannot change directors, increase share capital, or change your address if your returns are not up to date.
Strike-Off: If you fail to file for 10 consecutive years, the CAC can legally delete your company from the national register. Over 100,000 companies were targeted for this in the 2025/2026 cycle.