Nigeria Network of NGOs urges nonprofit organizations to file Bi-Annual Statement of Affairs

[vc_row][vc_column width=”5/6″][vc_column_text]Nonprofit Organizations have been reminded to file their Bi-Annual Statement of Affairs inline with the provisions of Section 845 (1) of the Companies and Allied Matters Act 2020 (CAMA) and Regulation 32 of the Companies Regulations 2021 (as Amended). This statement is required to cover periods of January 1st to June 30th with the timeline for filing of the Statement not later than July 15th and the second filing July 1st to December 31st with the timeline for filing of the statement not later than January 15th.

In a recent webinar hosted by the Nigeria Network of NGOs,member-organizations were urged to file their statements within this required time frame.

Based on the provisions of Section 845 (2), CAMA, Trustees have also been urged to file the statement within the respective timelines, for failure to file statement of affairs attract penalties. It is therefore crucial for NGOs to comply with the directives and file their Bi-Annual Statement of Affairs within the stipulated time frame and ensure to track records of all funds, which include income and expenditures.

The Bi-Annual Statement of Affairs is a means of promoting transparency and accountability amongst Non-governmental Organizations in Nigeria.

Bi-Annual Statement of Affairs is the mandatory compliance filings for Nonprofits registered in Nigeria under the CAMA 2020, Section 845.

How To File: Download the Form on CAC Website and fill in the details accordingly. Submit the filled form to – biannualstatementit@cac.gov.ng

The next filing, which is the second filing is January 15, 2024.[/vc_column_text][/vc_column][vc_column width=”1/6″][vc_single_image image=”8930″ img_size=”full”][/vc_column][/vc_row]