Tuesday, April 23, 2024
spot_imgspot_imgspot_imgspot_img
HomeNewsCAC Discover 189 Fake Companies

CAC Discover 189 Fake Companies

The Corporate Affairs Commission says it has uncovered 189 fake companies used to secure land allocations in the Federal Capital Territory.

ALSO READ: ARCON Bans Production Of Local Commercials In Foreign Countries

The Registrar General of the commission, Hussaini Magaji, disclosed this during a press briefing on Tuesday in Abuja.

Magaji stated that the discovery was made following a complaint from the Federal Capital Territory Administration to verify the status of a non-existing company seeking land allocation.

He explained that the discovery of the non-existent company led him to investigate further, resulting in the identification of other companies.

He added that two suspects including a lawyer have been apprehended and a cartel involving staff of Abuja Geographical Information System, lawyers, and the commission have been identified.

Explaining their mode of operations, the CAC boss said the cartel manoeuvred the land process to make their applications for land allocation priority over existing applications aiding land fraud in the capital city.

He noted, “The nature of their crime is they create fake entities through connivance with some lawyers claiming to be accredited agents of the commission and staff of Abuja geographical information system and apply for land at the FCT, manoeuvring their ways to a priority application over existing application in other to take over lands and they have been quite successful before we discovered it.

“As of yesterday we arrested two suspects including a lawyer and we are interrogating them to get more information and clampdown on other members of this cartel.

“In the course of our investigation and research, we found that the companies do not exist. And with the collaboration of security agents, we arrested a suspect and by arresting him, he has volunteered some information and from that, we have gotten a clue that something like this is happening and we are working hard to stop this menace.”

Speaking further on the vision of the commission, the registrar-general promised to increase the commission’s revenue base by sanctioning companies who fail to disclose their annual returns amongst other penalties.

He said that increasing its revenue base would enable the commission to perform its objective as a world-class commission.

CULLED FROM PUNCH

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments

sildenafil generic australia on Abandoned IDP Camp Discovered In Kaduna
Daniel Grace on WORLD DOWN SYNDROME DAY
Danjuma Saddiq on THE CONSPIRACY IN SOKOTO
Yakkon Damaryam on The War against Glaucoma
Shehu Danbaki on IMG-20181125-WA0070
Seth Yamusa on Hon Danjuma Peter Averik
Ibraheem Awowole on MEET OUR PATHFINDER FOR OSUN 2018
Amb. Hoom'Suk. on Sarauniya Beauty Pageant 2017