The Corporate Affairs Commission, CAC, has announced mandatory renewal and re-registration for all accredited insolvency practitioners, fixing December 1, 2026, as deadline for compliance to avoid automatic suspension.
The Commission stated that practitioners who fail to renew before the deadline will no longer be qualified to take up fresh insolvency jobs or continue existing ones.
The directive is in line with Section 705 of the Companies and Allied Matters Act, CAMA, 2020 and Regulation 1.07 of the Insolvency Regulations 2022.
“All practitioners whose accreditation is due for renewal are required to renew on or before 1 December 2026, failing which their accreditation shall be automatically suspended, rendering them ineligible to undertake or continue insolvency assignments,” the notice read.
The CAC further directed that all accredited insolvency practitioners, including those with valid and unexpired accreditation, must undergo mandatory re-registration.
The exercise is aimed at supporting its full automation drive and updating practitioners’ identity records in line with the National Identity Management Commission, NIMC, Act, 2026.
Also Read: NCC, CAC introduce new compliance rule
The commission further disclosed that new certificates featuring enhanced security features would be issued to practitioners upon successful registration.
“Furthermore, in view of the Commission’s end-to-end automation and the need to update identification records in line with the NIMC Act, 2026, all accredited practitioners, including those with valid, unexpired accreditation, are required to re-register,” the notice stated.
The CAC directed all affected practitioners to complete their applications and re-registration online through its dedicated insolvency portal.
“All applications and re-registration must be completed online via https://insolvency.cac.gov.ng,” the commission said.
It advised practitioners to comply promptly with the directive to avoid disruptions to their professional activities.
THE PUNCH
