The Corporate Affairs Commission (CAC) has directed accredited insolvency practitioners to renew their accreditation on or before December 1, 2026, warning that failure to meet the deadline will lead to automatic suspension.
The commission said affected practitioners whose accreditation expires without renewal would be barred from taking up new insolvency assignments or continuing existing ones.
The directive was contained in a notice published on the commission’s official X account on Wednesday.
According to the CAC, the requirement is in line with Section 705 of the Companies and Allied Matters Act, 2020, and Regulation 1.07 of the Insolvency Regulations, 2022.
The commission explained that accreditation for insolvency practice remains valid for three years and must be renewed upon expiration.
It also announced a mandatory re-registration exercise for all accredited insolvency practitioners, including those whose current accreditation certificates have not expired.
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The CAC said the exercise was part of efforts to implement its end-to-end automation process and update practitioners’ identification records in accordance with the National Identity Management Commission Act, 2026.
It added that new certificates with enhanced security features would be issued to practitioners who successfully complete the registration process.
The commission directed all affected practitioners to submit their renewal applications and complete re-registration online through its dedicated insolvency portal.
It urged practitioners to comply with the directive promptly to avoid disruptions to their professional activities.
The renewal and re-registration portal is available at https://insolvency.cac.gov.ng, while further information can be obtained through the commission’s official website, https://cac.gov.ng.