Corporate Affairs Commission

Corporate Affairs Commission is a body of the Nigerian Government responsible for the regulation and management of companies in Nigeria. It was introduced in 1990 with the passing of the Companies and Allied Matters Act. It is headed by a chairman and closely assisted by the Registrar General/ CEO. The current chairman is Hon Ademola Seriki.[1][2][3] Her headquarters is located in Plot 420, Tigris Crescent, Off Aguiyi Ironsi Street, Maitama, Abuja. Nigeria.[4]

The commission's incumbent Registrar-General is Hussaini Ishaq Magaji, a Senior Advocate of Nigeria, who was appointed by President Bola Tinubu on 13 October 2023.[5]

Other prominent offices of the board of CAC includes Manufacturers Association of Nigeria, Institute of Chartered Accountants of Nigeria (ICAN), Nigerian Bar Association, Securities and Exchange Commission, Federal Ministry of Trade and Investment, Nigerian Association of Chamber of Commerce, Industry, Mines and Agriculture, Federal Ministry of Justice and Federal Ministry of Finance. All these government agencies and parastatals send top representatives on the CAC board.

On Thursday, 25 May 2023, Nigeria launched its Open Central Register of Beneficial Ownership (known as the Persons with Significant Control Register) in line with its commitment at the Anti-Corruption Summit held in London on 12 May 2016.[6]

References

  1. ^ "Corporate Affairs Commission | Board Members". Archived from the original on 2014-09-10. Retrieved 2014-09-09.
  2. ^ "CAC goes tough on defaulting firms". Archived from the original on 2014-09-10. Retrieved 2014-09-09.
  3. ^ "CAC boss advises business owners on corporate governance". Archived from the original on 2014-09-10. Retrieved 2014-09-09.
  4. ^ "About us – Corporate Affairs Commission". www.cac.gov.ng. 2022-03-02.
  5. ^ Ailemen, Anthony (2023-10-13). "Tinubu appoints Hussaini Magaji Registrar General of Corporate Affairs Commission". Businessday NG. Retrieved 2024-08-25.
  6. ^ "Beneficial ownership register". Cac.gov.ng.


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