CAC Uncovers Fake Registered Entities

189 distinct registered entities are suspected of being fraudulently registered with the Corporate Affairs Commission (CAC).

The Registrar-General/CEO of the Commission, Hussaini Ishaq Magaji, SAN, revealed this on Tuesday in Abuja while speaking to newsmen.

According to him, the companies are suspected to be used for the purposes of land acquisition and racketeering at the Federal Capital Development Authority.

Ishaq Magaji further revealed that a suspect and his accomplice have been apprehended and are currently under investigation.

Speaking on his vision for the Commission, the Registrar General said he was set to improve the playing field for companies in accordance with item 6 of President Bola Ahmed Tinubu’s renewed hope agenda.

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He also spoke on measures being put in place to improve the revenue base of the Commission in line with the provisions of Section 8 of the law establishing the CAC.

He therefore said that the Commission would explore several means at its disposal, including the enforcement of statutory requirements and obligations on the proprietors of companies.

On his four-point agenda for the Commission, Ishaq Magaji said human capital development and staff welfare would receive priority attention.

He therefore charged the staff of the Commission to be more alive to their responsibilities in order to build a virile institution.