CAC gives insolvency practitioners deadline for renewal, re-registration
The Corporate Affairs Commission (CAC) has set December 1, 2026, as the deadline for the mandatory renewal and re-registration of accreditation for insolvency practitioners in Nigeria.
In a public notice issued by the CAC management, the commission cautioned that practitioners whose accreditations are due for renewal risk automatic suspension if they do not complete the process by the specified date. The notice referenced Section 705 of the Companies and Allied Matters Act (CAMA), 2020, and Regulation 1.07 of the Insolvency Regulations, 2022, as the legal foundation for this requirement.
Accreditation for insolvency practice is valid for three years, necessitating renewal upon expiration, according to the commission. Practitioners who do not renew their accreditation by the deadline will be ineligible to take on new insolvency assignments or continue existing ones.
Additionally, the CAC directed all accredited insolvency practitioners, including those with valid accreditation, to undergo re-registration. This requirement is part of the commission’s initiative to enhance its end-to-end automation processes and to update identification records in accordance with the National Identity Management Commission Act, 2026. New certificates featuring improved security features will be issued to practitioners who successfully complete the re-registration process.
The CAC urged all affected practitioners to submit their renewal and re-registration applications online through its insolvency portal. Compliance with this directive is essential to prevent disruptions to their professional practice.
