The Independent Corrupt Practices and other related offences Commission (ICPC) is set to investigate the Registrar-General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, SAN, over allegations of unlawful alteration of corporate records, expropriation of shares, and removal of directors linked to companies developing the River Park Estate in Lugbe, Abuja.
Ghanaian investors operating in JonahCapital Nigeria Ltd and Houses For Africa Nigeria Ltd have petitioned the ICPC, claiming that Magaji’s actions have reduced them to minority shareholders in JonahCapital Nigeria Ltd and effectively expropriated their shares in Houses For Africa Nigeria Ltd.
The investors allege that Magaji unilaterally cancelled corporate filings, altered directorship records, and expropriated shareholdings, exercising powers reserved exclusively for the courts.
