The Corporate Affairs Commission has set December 1, 2026, as the deadline for accredited insolvency practitioners to renew their accreditation, warning that failure to comply will result in automatic suspension.
The commission said practitioners who fail to renew their accreditation by the deadline would become ineligible to undertake or continue insolvency assignments.
In a notice published on its official X account on Wednesday, the CAC said the directive was in accordance with Section 705 of the Companies and Allied Matters Act, 2020, and Regulation 1.07 of the Insolvency Regulations, 2022.
The commission stated that accreditation for insolvency practice was valid for three years and subject to renewal upon expiration.
“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 stated.
The CAC also announced mandatory re-registration for all accredited insolvency practitioners, including those whose accreditation remained valid and unexpired.
According to the commission, the exercise was necessary to support its end-to-end automation process and update practitioners’ identification records in line with the National Identity Management Commission Act, 2026.
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.
Further information on the renewal and re-registration exercise is available on the commission’s website at https://cac.gov.ng.