CAC seeks AGF’s permission to prosecute unregistered firms

The Registrar General of the Corporate Affairs Commission, Hussain Magaji, has sought the permission of the Attorney General of the Federation, Lateef Fagbemi, to prosecute the Nigerian Law Society and other corporate entities operating without registration in the country.

Magaji also requested general consent to prosecute criminal offences committed under the Companies and Allied Matters Act No. 3 of 2020.

The section states the importance of listing the name and details of every individual sitting as director and trustee of a company and the address of the company among others.

The CAC boss stated that the permission is necessary to address the high level of forgery and fraud 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.

Our correspondent obtained a copy of the letter on Friday.

The letter was titled, “Request for fiat or consent to exercise prosecutorial powers of the Attorney General Of The Federation in Section 174 Of the 1999 constitution made pursuant to section 104 (2) of the Administration of Criminal Justice Act, 2015.”

The letter read, “I write to request formal consent to generally prosecute criminal offences committed under the Companies and Allied Matters Act No. 3 of 2020.

“This is aimed at checking the high levels of forgeries and frauds committed in corporate administration. The request is brought under S.104 (2) of the Administration of Justice Act, 2015.”

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.

“Apart from general fiat, I also specifically request consent to prosecute trustees of the Nigerian Law Society who have commenced operational activities without registration in direct violation of section 863 (2) of the Companies and Allied Matter Act, 2020.

“The delegation would facilitate the effective exercise of regulatory powers against registrable entities that refuse to register or formalize their businesses or commit other criminal offences in corporate administration.

“Evidence of such violations is attached to this letter. Accept the full assurance of my highest esteem and regards,” the letter concluded.

The CAMA 2020 Qct empowers the CAC as the sole registration body and regulator of all businesses and corporate entities as well as associations in the country.