Not every company that misses its AGM window has to scramble. CAC allows an extension, for a fee, on all but one meeting.
CAC can extend the time for an AGM, except the first
A company that cannot hold its annual general meeting on time can apply to CAC for more time. This route is open for any AGM after the first one.
Boards ask for this for ordinary reasons: directors travelling, a delayed audit, or simply a diary clash nobody caught early enough. CAC's extension exists for exactly this kind of routine slip.
The first AGM is treated differently, with its own fixed deadline that CAC does not extend. Your first AGM deadline, and who is exempt covers that separate rule in full.
The fee a private company pays for the extension
A private company pays ₦50,000 for the extension. A public company pays more.
Budget for this fee as soon as you know a meeting will slip, rather than waiting until the deadline has already passed to start the conversation with CAC.
Weigh the fee against the cost of simply holding the meeting on time. For most boards, a small diary adjustment is cheaper than an extension fee, if the date is caught early enough.
The companies that never need to apply
Not every company holds an AGM at all. Small companies and companies with a single shareholder are excused from the duty entirely, which means there is no deadline for them to extend in the first place.
If your company fits that description, this extension fee simply does not apply to you. Check your own structure against that description rather than assuming either way.
Applying before the date passes, not after
Treat the extension as something you request ahead of the deadline, not a fix you reach for once you are already late. CAC's language describes this as a request the company makes, not something that happens on its own.
A board that expects to miss the date should raise the extension internally as soon as that becomes clear, so there is time to file the request and pay the fee before the original deadline runs out.
Leaving it until the last few days adds pressure for no good reason. CAC's process still takes the time it takes, whether you apply early or late.
The meeting is not fully separate from the annual return
For a company that holds an AGM, within 42 days after the annual general meeting. Extending the AGM deadline pushes that meeting back, and with it the return date measured from it.
Keep both dates on the same calendar even so, since a company juggling an AGM extension is often the same company at risk of an annual return slipping too.
You can start a CAC company registration if you have not yet incorporated. The CAC registration hub links the rest of this series.