A Senate committee has advised President Bola Tinubu to terminate the appointment of Hussaini Magaji, the Registrar-General and Chief Executive Officer of the Corporate Affairs Commission (CAC). This recommendation comes after Mr. Magaji allegedly ignored multiple invitations from the Senate Committee on Finance.
The committee stated that Mr. Magaji, a Senior Advocate of Nigeria (SAN), has consistently failed to appear before them to explain the agency's revenue generation and operational outcomes since he took office.
Sani Musa, the Chairman of the Finance Committee, announced this decision when the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Budget and Economic Planning, Atiku Bagudu, presented their 2026 budget proposals. Leaders from other agencies overseen by the committee, including the Nigeria Revenue Service (NRS), Tax Ombudsman Office, Nigerian Customs Service (NCS), and the Office of the Attorney-General of the Federation, were present, but Mr. Magaji sent a representative instead of attending himself.
The motion to seek Mr. Magaji's removal was initiated by Senator Orji Kalu (APC, Abia North). He pointed out that ministers, who hold constitutionally superior positions, regularly attend the committee's summons, making the CAC registrar-general's absence unacceptable. Senator Kalu emphasized that Mr. Magaji is not above the law and must account for his actions.
"This man is not coming to the Senate; he’s not above the law. This is the minister of finance and the minister of budget; they’re here. We summoned them and they came, and this man thinks he’s big over the Senate. We’re not going to take that rubbish again," he stated.
"I move a motion that that man should be reported to Mr President and ask for immediate removal because we cannot continue with this man. This CAC man, since I came to this Senate, has never appeared; he will continue saying he’s in the villa, he’s going to London. Is that what we’re doing here? He should come and give us an account of what he had done," he added.
Following Senator Kalu's motion, the committee chairman called for a voice vote, and the majority of members supported the resolution. Mr. Musa then declared the committee's decision and directed that the recommendation be formally conveyed.
Mr. Musa further highlighted the committee's concerns regarding the CAC's revenue reconciliation processes, accusing the registrar-general of repeatedly sending junior staff to represent him. "The registrar-general of the CAC has refused on many occasions to honour the call, invitations or summons of this most important committee. As registrar-general, we have issues with his reconciliation of their revenue. Anytime he’s invited, he’ll give us one reason or the other and he’ll send junior officers to come and talk to the Senate," he explained.
The Corporate Affairs Commission (CAC) is the federal agency responsible for registering and overseeing companies, business names, and incorporated trustees in Nigeria. Operating under the Companies and Allied Matters Act (CAMA), the CAC maintains the national registry of corporate entities, ensures compliance with legal filing requirements, and monitors corporate governance standards.
As the custodian of Nigeria's corporate data, the CAC is crucial to the nation's business landscape, processing company registrations, annual filings, changes in company leadership, and other post-incorporation procedures. The commission also contributes to government revenue through various fees.
Given its significant role in revenue generation and regulation, the CAC is subject to oversight by the National Assembly. The constitution empowers the legislature to investigate federal agencies and officials. While the National Assembly can recommend actions, including removal from office, the ultimate authority to appoint or dismiss heads of executive agencies rests with the President, in accordance with relevant laws.
Comments (0)
You must be logged in to comment.
Be the first to comment on this article!