The Corporate Affairs Commission (CAC) has formally requested permission from the Attorney General of the Federation (AGF), Lateef Fagbemi, to initiate legal proceedings against unregistered organizations, including the Nigerian Law Society, and other entities failing to meet registration requirements in Nigeria.
Advertorial
In a letter dated August 15, 2024, the CAC’s Registrar General, Hussain Magaji, appealed to the AGF for consent to prosecute, highlighting a pressing need to tackle fraud and forgery in corporate operations.
The request underscores violations of the Companies and Allied Matters Act (CAMA) No. 3 of 2020, which mandates that all businesses and organizations disclose their directors, trustees, and official addresses.
Advertorial
Magaji’s letter specifically refers to Section 863 (2) of CAMA 2020, which obliges entities like the Nigerian Law Society to complete their registration with the CAC before starting their activities.
The letter, titled “Request for Fiat or Consent to Exercise Prosecutorial Powers of the Attorney General of the Federation under Section 174 of the 1999 Constitution, Pursuant to Section 104 (2) of the Administration of Criminal Justice Act, 2015,” seeks extensive prosecutorial authority to address breaches of CAMA 2020.
The CAC’s initiative aims to curb the rising incidence of corporate malpractice, including forgery and fraud.
Advertorial
Magaji’s request includes specific consent to prosecute the trustees of the Nigerian Law Society for operating without proper registration, a breach of CAMA 2020.
The CAC, as the primary body responsible for business and corporate entity registration and regulation in Nigeria, has attached evidence of these violations to the letter for the AGF’s review, reaffirming its commitment to enforcing corporate compliance and seeking the AGF’s approval to enhance its regulatory capabilities.
