Ghanaian investors have petitioned Nigeria’s Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate the Corporate Affairs Commission (CAC). Allegations involve unauthorised changes to corporate filings of two companies linked to a major estate project in Abuja, Nigeria’s federal capital.
Okay News reports that the petition, dated December 16, 2025, was submitted by investors in JonahCapital Nigeria Ltd and Houses For Africa Nigeria Ltd. These firms develop River Park Estate in Lugbe, a district in Abuja.
The investors described their nearly two-decade involvement as substantial foreign direct investment. JonahCapital serves as head lessee and developer, while Houses For Africa acts as development partner.
They accused CAC officials of expropriating shares, removing registered directors, and invalidating past filings. Changes allegedly reduced them to minority shareholders in one company and stripped ownership in the other.
Trouble reportedly began in 2023 after discovering unauthorised property sales by former directors. Civil suits followed in Abuja courts.
Opposing parties filed criminal complaints, later halted by the Office of the Attorney General of the Federation. Investors requested a CAC caveat to protect records, which was initially granted.
On August 20, 2025, CAC demanded expungement of filings spanning 15 years. This referenced a police report, despite ongoing litigation.
Investors sued at the Federal High Court to preserve records. They discovered on December 8 that filings had been cancelled regardless.
“We were shocked to discover on December 8, 2025, that the entire corporate records of our companies had been cancelled by CAC,” the petition stated.
Actions allegedly followed service of court processes on CAC Registrar-General Hussaini Ishaq Magaji. Petitioners argued the moves usurped judicial powers reserved for courts.
Consequences include risks to banking relationships, staff employment, and regulatory compliance. Recent unauthorised letters sought account closures and estate ownership recognition.
Adverse parties wrote to banks and the Minister of the Federal Capital Territory. This used company letterheads without permission.
Petitioners urged ICPC to probe for abuse of office. They requested record restoration and potential prosecution of the Registrar-General.
“We trust the Commission to take a decisive stand against corruption and abuse of office by public officers,” they concluded.
This case raises concerns over corporate registry integrity and foreign investor protection in Nigeria.
It highlights potential impacts on investment climate and judicial processes in Africa’s most populous nation.
