The Corporate Affairs Commission (CAC) has sounded the alarm about a disturbing surge in counterfeit companies operating within the country.
Their concerns were heightened when they revealed the discovery of 189 fake companies that had been exploiting their status to obtain land allocations in the Federal Capital Territory (FCT), Abuja.
During a press briefing held on Tuesday, the Registrar General of the CAC, Hussaini Magaji, unveiled these shocking findings.
The investigation was initiated following a complaint from the Federal Capital Territory Administration (FCTA) regarding a dubious company seeking land allocation.
Magaji delved into the details, explaining that the exposure of the non-existent company prompted an extensive inquiry.
This, in turn, led to the identification of several other fraudulent entities operating for the same nefarious purpose.
Two suspects, including a lawyer, have been apprehended in connection with this fraudulent activity.
The investigation further revealed the existence of a cartel comprising individuals from the Abuja Geographical Information System, lawyers, and even some within the commission itself.
Magaji emphasized the gravity of the situation, stating, “Let me use this opportunity to inform the public that one of the major milestones achieved so far since I assumed office is our ability to bust a cartel or a network of individuals that are causing havoc for the commission.
This cartel collaborates with certain lawyers who falsely claim to be accredited agents of the commission and conspires with staff from the Abuja Geographical Information System to secure land allocations in the FCT. We only became aware of this criminal activity after a complaint from the Federal Capital Territory Administration prompted us to verify some applications made by these entities, which, shockingly, were non-existent within our system.”
