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 a public notice 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, as the legal basis for the exercise.

According to the commission, accreditation for insolvency practice is valid for three years and must be renewed upon expiration.

It stated that practitioners who fail to renew their accreditation on or before December 1, 2026, would be ineligible to undertake new insolvency assignments or continue existing ones.

The CAC also directed all accredited insolvency practitioners, including those whose accreditation remains valid, to undergo re-registration.

The commission explained that the additional requirement was necessary to support its end-to-end automation process and update identification records in line with the National Identity Management Commission, NIMC, Act, 2026.

It added that new certificates featuring enhanced security features would be issued to practitioners upon successful completion of the re-registration process.

The CAC directed all affected practitioners to complete their renewal and re-registration applications online through its insolvency portal.

The commission urged all affected practitioners to comply with the directive promptly to avoid disruptions to their professional practice.

CAC gives insolvency practitioners deadline for renewal, re-registration