The Corporate Affairs Commission (CAC) is taking steps to crack down on companies and organisations operating without proper registration in Nigeria.
The Registrar General of the CAC, Hussain Magaji, has asked the Attorney General of the Federation, Lateef Fagbemi, for permission to prosecute such entities, including the Nigerian Law Society, for failing to register.
Request for Legal Action
Magaji has requested general consent from the Attorney General to prosecute offences under the Companies and Allied Matters Act (CAMA) No. 3 of 2020.
He emphasised that this action is essential to tackle widespread forgery and fraud in corporate administration.
In a letter dated August 15, 2024, Magaji formally requested permission from the Attorney General’s office to prosecute unregistered entities.
The letter also highlighted the importance of compliance with the CAMA, which requires the listing of company directors, trustees, and registered addresses.
Targeting the Nigerian Law Society
Magaji specifically mentioned the Nigerian Law Society in his letter, noting that the organisation had started operating without proper registration.
This is a direct violation of Section 863(2) of the Companies and Allied Matters Act of 2020. Magaji is seeking permission to prosecute the trustees of the society for this infraction.
The CAC boss explained that this legal action would be part of a broader effort to enforce compliance among entities that refuse to register or engage in criminal activities related to corporate administration.
Empowering the CAC
Under the CAMA 2020, the CAC has the authority to act as the sole registration body and regulator of all businesses, corporate entities, and associations in Nigeria.
Magaji’s request for prosecutorial powers would further enhance the CAC’s ability to enforce the law and maintain transparency in corporate activities across the country.
Magaji assured that a delegation from the CAC would help facilitate the effective exercise of these regulatory powers if the Attorney General approves the request.
