The Registrar General of the Corporate Affairs Commission Hussain Magaji has requested authorization from Lateef Fagbemi, the Attorney General of the Federation, to pursue legal action against the Nigerian Law Society and other corporate organizations that do not have official registration in the nation.
Additionally, Magaji asked for permission to prosecute criminal offenses under the Companies and Allied Matters Act No. 3 of 2020 on a general basis.
The section stresses the need of including the address of the business along with the name and contact information of each person serving as a trustee and director of the firm.
According to the head of CAC, authorization is required to combat the high rate of fraud and forgery in corporate administration.
This was disclosed in a letter signed by the registrar, dated August 15, 2024 and received by the Attorney-General’s office.
The CAC boss specifically requested consent to prosecute trustees of the Nigerian Law Society for commencing operational activities without necessary registration at the commission.
He further stated that a delegation from his office would facilitate the effective exercise of regulatory powers against registrable entities that refuse to register or formalise their businesses or commit other criminal offences in corporate administration.
The CAMA 2020 Act empowers the CAC as the sole registration body and regulator of all businesses and corporate entities as well as associations in the country.
