CAC Sets December 1 Deadline for Insolvency Practitioners’ Accreditation Renewal

The Corporate Affairs Commission (CAC) has set December 1, 2026, as the deadline for insolvency practitioners in Nigeria to renew their accreditation and complete a mandatory re-registration exercise, warning that failure to comply could lead to automatic suspension.

In a public notice issued by its management, the commission said practitioners whose accreditation is due for renewal must complete the process by the stipulated date to remain eligible to practise. Those who miss the deadline will be barred from taking on new insolvency assignments or continuing existing ones.

The CAC 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 directive. It explained that accreditation for insolvency practice is valid for three years and must be renewed when it expires.

The commission also directed all accredited insolvency practitioners, including those whose existing accreditation remains valid, to undergo re-registration. It said the additional requirement is intended to support its end-to-end automation process and update practitioners’ identification records in line with the National Identity Management Commission (NIMC) Act 2026.

As part of the exercise, the CAC said new accreditation certificates with enhanced security features would be issued to practitioners who successfully complete the re-registration process.

All affected practitioners have been instructed to submit their renewal and re-registration applications online through the commission’s insolvency portal. The CAC urged them to begin the process promptly rather than wait until the deadline approaches.

The directive places the responsibility on insolvency practitioners to ensure their accreditation details are current and their registration records are updated. Practitioners who fail to meet the December 1 deadline risk disruption to their professional activities, including restrictions on ongoing assignments.