We will go After deregister Companies and recover our money – Registrar General, Corporate Affairs Commission
Registrar-General/Chief Executive, Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, Declares Vigorous Pursuit of Delinquent Companies
In a determined stance, Registrar-General/Chief Executive of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, vows to pursue owners and directors of companies de-registered due to failure in meeting annual returns obligations.
Magaji underscores the significance of annual returns payment as stipulated by the Companies and Allied Matters Act (CAMA), emphasizing its non-negotiable status.
In an exclusive interview with THISDAY, Magaji highlights his achievements within his first 100 days in office. He announces an extended compliance deadline of April 30, 2024, granting defaulting companies a window for rectification.
He articulates the commission’s commitment to advancing President Bola Tinubu’s Renewed Hope agenda, primarily through business facilitation aimed at generating employment opportunities on a massive scale.
Among his notable accomplishments, Magaji celebrates the registration of an unprecedented two million Micro, Small, and Medium Enterprises (MSMEs) in collaboration with Moniepoint Micro Finance Bank, effectively formalizing their operations nationwide.
Looking forward, the commission sets ambitious targets, aspiring to formalize 20 million small businesses by year-end, with an estimated tax revenue projection of N20 billion.
Magaji envisions transforming CAC into the premier workplace in the country, fostering a culture of excellence, and delivering unparalleled service to the public.
Addressing recent controversies, Magaji refutes claims of registering a vigilante entity, Nomad Vigilante Nigeria Limited, asserting its absence from the commission’s database.
Additionally, he denies allegations of obstructing a national newspaper’s request for disclosure of Intels’ ownership details, firmly denying any wrongdoing.
With resolute determination, Magaji positions CAC at the forefront of corporate governance, poised to enforce compliance and drive economic growth.
