Filing Cessation of Person with Significant Control

Cessation of Person with Significant Control (PSC) of Company

NGN25,000

Notify Cessation of a Person with Significant Control (PSC) with CAC

If a Person with Significant Control (PSC) no longer meets the criteria for control, their details must be officially removed from the company's records. This is a crucial compliance step to ensure the company's PSC register accurately reflects its current beneficial ownership structure, which is a legal requirement in Nigeria.

Service Fee (All inclusive):

NGN25,000

Cessation of a Person with Significant Control (PSC) in Nigeria

  • Filing & Documentation: We prepare and file all required forms and notices with CAC to record the cessation of a PSC.

  • Official Document: Receive an updated CAC Status Report reflecting the removal of the PSC from your company’s records.

  • Transparent Pricing: Covers CAC fees and our service fee with no hidden charges.

  • Fast Processing: Your request is completed within 3–7 working days, subject to CAC approval.

  • Ongoing Support: Our Chartered Secretary and corporate services team provide continuous help for your compliance needs.

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Why File a Notice of Cessation of PSC with CAC?

A Person with Significant Control (PSC) is anyone who ultimately owns or influences a company through shares, voting rights, or decision-making power. Once a PSC ceases to hold such control, Nigerian law requires the change to be reported to the Corporate Affairs Commission (CAC).

Filing this notice ensures your company’s records remain accurate, compliant, and transparent, while formally removing the individual’s authority from the CAC register.

  • Prevent Misleading Records: If not filed, the PSC’s name will continue to appear on status reports, giving a false impression of control.

  • Regulatory Compliance: Companies are legally required to notify CAC of PSC cessations within the stipulated period to avoid penalties.

  • Support Due Diligence: Banks, investors, and regulators rely on CAC records for checks. An outdated PSC register can cause compliance and operational setbacks.

  • Ensure Accountability: Accurate filings make it clear who truly has control, so responsibility rests with the right individuals.

CAC Post-Incorporation Services

Requirements for Filing Cessation of Person with Significant Control (PSC) with CAC

  • Company Details: Provide the company’s full registered name and RC (Registration) Number as recorded with the CAC.

  • Details of Person with significant control (PSC). 

  • Cessation Details: Effective date of cessation and reason (e.g., disposal of shares, resignation, transfer, or termination of control).

  • Up-to-Date Annual Returns: All outstanding annual returns must be filed before the  change can be processed.

  • Authentication: Application must be initiated by a director, company secretary, or authorized officer.

Remove PSC

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