CAC Sets December 1 Deadline for Insolvency Practitioners’ Accreditation Renewal

The Corporate Affairs Commission (CAC) has directed all accredited insolvency practitioners in Nigeria to renew their accreditation and complete mandatory re-registration on or before December 1, 2026, warning that failure to meet the deadline could disrupt their professional practice.

The Commission disclosed this in a public notice, stating that the renewal exercise is in line with the provisions of the Companies and Allied Matters Act (CAMA), 2020, and the Insolvency Regulations, 2022.

According to the CAC, Section 705 of CAMA 2020 and Regulation 1.07 of the Insolvency Regulations 2022 provide that accreditation for insolvency practice is valid for three years and must be renewed upon expiration.

Consequently, practitioners whose accreditation is due for renewal are required to complete the process by December 1, 2026.

The Commission warned that failure to renew accreditation within the stipulated period would result in automatic suspension, rendering affected practitioners ineligible to undertake new insolvency assignments or continue existing ones.

Beyond the renewal requirement, the CAC announced that all accredited insolvency practitioners, including those whose accreditation remains valid, must undergo mandatory re-registration.

It explained that the additional requirement follows the Commission’s transition to end-to-end automation and the need to update practitioners’ identification records in line with the NIMC Act, 2026.

The Commission added that new accreditation certificates featuring enhanced security features would be issued to practitioners upon successful completion of the registration process.

The CAC directed all affected practitioners to submit their renewal applications and complete re-registration online through its dedicated insolvency portal at insolvency.cac.gov.ng.

Further information on the exercise is available on the Commission’s official website, cac.gov.ng.

The Commission urged all accredited insolvency practitioners to comply promptly with the requirements to avoid suspension of their accreditation and ensure uninterrupted participation in insolvency practice.