Tag: CAC

Al-Manar trustees challenge CAC suspension in court

Aminu Imam
Al Manar challenge CAC

The suspended members of the Board of Trustees of the Kaduna-based Al-Manar Education and Development Foundation has taken the Corporate Affairs Commission (CAC) to the Federal High Court, challenging the regulator’s decision to appoint an interim manager for the organisation. Court documents revealed that the CAC, suspended the foundation’s board of trustees on September 10, 2025, and installed an interim management team. However, the suspended trustees in their filings, in suit number FHC/KD/CS/115/2025, contended that the Commission acted without prior notice and did not grant them an opportunity to be…

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NIN, CAC numbers now serves as tax ID for individuals’ – FIRS 

Aminu Imam
FIRS on NIN2

The National Identification Number (NIN) issued by the National Identity Management Commission (NIMC) has now automatically become a Tax ID for Nigerians starting from January 2026, according to the Federal Inland Revenue Service, (FIRS). The declaration comes amidst concerns over a provision of the tax laws mandating a Tax ID for bank account ownership. According to data released by the NIMC, a total of 123.9 million Nigerians had been issued the NIN as of October 2025. In a public awareness campaign on the new tax laws posted on X on…

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CAC to crack down on unregistered PoS operators

Aminu Imam
CAC on PoS

The Corporate Affairs Commission, (CAC), is set to crack down on unregistered point of sale (PoS) operators starting January 1, 2026, as part of efforts to regulate the sector. In a statement issued yesterday, the CAC labelled the rise of unregistered PoS terminals a “reckless practice,” citing violations of the Companies and Allied Matters Act (CAMA) 2020 and Central Bank of Nigeria (CBN) agent banking rules. “This reckless practice often enabled by some fintech companies puts Nigeria’s financial system and citizens’ investments at risk. This must stop”, the Commission stated.…

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CAC threatens mass delisting of BDC operators, non-compliant firms, others Dec. 1

Aminu Imam

The Corporate Affairs Commission (CAC) has warned that companies that fail to comply with regulations risk being removed from its register by December 1st, 2023. In a video statement issued on Friday, CAC Registrar-General, Hussaini Ishaq Magaji (SAN), said license holders like travel agents, miners, and Bureau de-Change (BDC) operators face losing their licenses if delisted. Magaji said companies found wanting in CAC data verification exercises would have their names struck off. This would invalidate internal and external operating licenses tied to CAC registration.  The Registrar-General encouraged defaulting entities to…

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CAC uncovers 189 fake companies used to secure land allocations in Abuja

Aminu Imam

The Corporate Affairs Commission (CAC) has raised an alarm over the high number of fake companies in the country. This is even as the Commission says it has uncovered 189 fake companies used to secure land allocations in the Federal Capital Territory (FCT), Abuja. The Registrar-General of the Commission, Hussaini Magaji, who disclosed this during a press briefing in Abuja yesterday, stated that the discovery was made following a complaint from the FCTA to verify the status of a non-existent company seeking land allocation. He explained that the discovery of the…

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CAC set to delete 100,000 companies from its register

Aminu Imam

The Corporate Affairs Commission (CAC) has said it would soon delete a total of 100,000 registered companies from its database. The CAC Registrar-General/CEO, Garba Abubakar, revealed this in Lagos while speaking at a Training Workshop on the use of the Beneficial Ownership Register (BOR). According to him, the companies to be deleted have failed to file annual returns in the last ten years, hence due to be struck-off its register. Abubakar said that the Commission would soon send notices of striking off to the affected companies before embarking on the…

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“Nigerians now living like in the days of King Herod”, Says CAC President

Aminu Imam

President of Christ Apostolic Church, (CAC), Worldwide, Pastor S. O. Oladele, has likened the present situation in Nigeria to the days of the wicked King Herod of the biblical period in whose time Jesus Christ was born. The CAC president stated this at the weekend, during the 2021 edition of the churchs Christmas Carol at All Saints Chapel, General Secretariat, Bashorun, Ibadan, Oyo State.  The cleric, who noted that the evil in the land had brought everyone under a thick cloud of darkness, said, Today, when we look at our…

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CAC debunks union’s N6.5bn fraud allegation against its Registrar-General, Abubakar

Aminu Imam

The Corporate Affairs Commission, (CAC), has debunked a series of online publications in respect of several allegations leveled against it by its former staff union, AUPCTRE, over an alleged N6.5bn fraud, which the union claimed the CAC staff and the NLC were tackling against its Registrar-General/CEO, Garba Abubakar. Picture caption: CAC Registrar-General, Alhaji Garba Abubakar The CAC, in an issued press statement, signed by its Director, Public Affairs, Duke Ukaga, said the online article is a figment of the imagination of its sponsors. According to the CAC, “the write-up is…

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CAC deregisters Ohaneze, ACF, over security concerns

Ishaku Yohanna

The Corporate Affairs Commission (CAC) has withdrawn the registration certificate of Ohanaeze Ndigbo General Assembly, the Arewa Consultative Forum (ACF) and other socio-cultural groups in Nigeria. Disclosing this at the weekend in Abuja, the Registrar General of CAC, Mr Garba Abubakar, said the measure was part of the reforms the Commission was putting in place to subject such applications to thorough scrutiny following security threats that may arise from such registrations. He noted that the reforms are a measure put together to sanitise the Commission operations which lead to the…

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