UK authorities dissolve Peter Obi's business, Next International

 Authorities in the United Kingdom, UK, have disqualified Next International (UK) Limited for failing to submit its annual reports. Peter Obi, a prominent politician in Nigeria and the Labour Party's presidential candidate, owns a major portion of the company. The firm was erased from the records in September 2021 as a result of first and second gazette notices of the entity's "compulsory" strikeoff.

In the UK, a company may be subject to a compulsory strikeoff if its annual accounts are not submitted or it fails to inform Companies House of a change in its registered office address. A company's information is withdrawn from the Companies House registry when it is struck off, and it no longer exists. Next International (UK) Limited was struck off the register and liquidated in 2021 as a result of failing to submit its annual reports for the year 2020.

However, the UK mandates that the Registrar of Companies House issue the company at least two formal letters warning that failure to file its annual accounts will result in its removal from the register before a company is struck off. According to UK Liquidators, a financial consultancy firm, Companies House will publish a first "strike off notice" in the Gazette, which is the official journal of public record, if it doesn't receive a response to its letters.

#trending #UK #peterobi #nextinternational