Practitioners risk automatic suspension for non-compliance as Commission moves to update records and strengthen certificate security
The Corporate Affairs Commission (CAC) has directed all accredited insolvency practitioners in Nigeria to renew their accreditation on or before December 1, 2026, warning that failure to meet the deadline will result in automatic suspension and disqualification from undertaking or continuing insolvency assignments.
The Commission also announced a mandatory re-registration exercise for all accredited insolvency practitioners, including those whose accreditation certificates remain valid, as part of efforts to modernise its operations, update identification records and strengthen the security of accreditation certificates.
The directives were contained in a public notice issued by the Commission’s management, which called on all affected professionals to comply promptly to avoid disruptions to their professional activities.
According to the notice, the renewal requirement is in line with Section 705 of the Companies and Allied Matters Act (CAMA), 2020, and Regulation 1.07 of the Insolvency Regulations, 2022, which provide for a three-year validity period for accreditation, subject to renewal upon expiration.
The CAC explained that practitioners whose accreditation has become due for renewal must complete the process before or on December 1, 2026, stressing that failure to comply would automatically affect their eligibility to practise.
“Failing which their accreditation shall be automatically suspended, rendering them ineligible to undertake or continue insolvency assignments,” the Commission stated in the notice.
The warning underscores the importance of maintaining valid accreditation for professionals involved in insolvency practice, where compliance with applicable legal and regulatory requirements is essential to carrying out authorised assignments.
Mandatory Re-Registration for All Practitioners
Beyond the renewal deadline, the CAC said all accredited insolvency practitioners must undergo re-registration, irrespective of whether their existing accreditation has expired.
The Commission attributed the exercise to its ongoing transition towards end-to-end automation and the need to update practitioners’ identification records in line with the NIMC Act, 2026, as referenced in the public notice.
It explained that the re-registration exercise would enable the Commission to maintain updated records of accredited practitioners while improving the integrity and security of the accreditation system.
The Commission further disclosed that new accreditation certificates incorporating enhanced security features would be issued to practitioners upon successful completion of the registration process.
The requirement means that practitioners with unexpired certificates are also expected to take action rather than assume that their existing accreditation exempts them from the exercise.
Online Process for Renewal and Re-Registration
To facilitate compliance, the Commission directed all affected practitioners to complete their applications and re-registration online through its dedicated insolvency portal.
The portal is available at https://insolvency.cac.gov.ng, while additional information on the exercise can be obtained through the Commission’s official website at www.cac.gov.ng.
The online process forms part of the CAC’s broader automation drive, aimed at improving service delivery and streamlining its regulatory procedures.
Practitioners are therefore expected to access the designated portal, follow the applicable instructions and complete the necessary procedures within the stipulated timeframe.
CAC Warns Against Disruption to Professional Practice
The Commission urged all accredited insolvency practitioners to treat the directive as a matter of priority, emphasising the need to complete both renewal and re-registration requirements where applicable.
For practitioners whose accreditation is due to expire, failure to renew by the deadline could prevent them from taking on new insolvency assignments or continuing existing ones, potentially affecting their professional engagements.
Similarly, those with valid accreditation are expected to complete the re-registration process to ensure that their records are updated and that they can obtain replacement certificates featuring the enhanced security measures.
The notice did not provide details of any extension beyond December 1, 2026, making timely compliance particularly important for those affected.
Practitioners Urged to Act Early
With the deadline approaching, insolvency practitioners are advised to verify their accreditation status, review the requirements on the official CAC portal and complete all necessary procedures well ahead of the cutoff date.
The Commission’s directive highlights the importance of regulatory compliance in insolvency practice and signals a renewed focus on digital administration, reliable identification records and the security of professional accreditation documents.
The public notice was signed by the Management of the Corporate Affairs Commission, which reiterated its call for prompt compliance to prevent avoidable interruptions to professional practice.
