CAC Boss Threatens to Sanction Fraudulent Registration Processes
By James Emejo
The Registrar General/Chief Executive, Corporate Affairs Commission (CAC), Mr Garba Abubakar has warned that he would take drastic measures against any erring professional who indulged in sharp practices while dealing with the commission.
He said the commission had often been bombarded with manifestly forged documents at the point of registration, adding that this will no longer be condoned going forward.
Abubakar, while receiving the President of the Chartered Secretaries and Administrators of Nigeria (ICSAN), Taiwo Olowokolade on a courtesy call to the CAC, however, noted that
upon the implementation of the Companies And Allied Matters Act (CAMA), 2020, the CAC registration portal had placed more responsibilities on professionals acting on the authority of their clients believing that they would do the right thing.
He therefore, harped on the need for stakeholders to avoid sharp practices while dealing with the commission.
The registrar general however, commended ICSAN for maintaining professional ethics in their conducts and congratulated them for their reintegration on the CAC Governing Board by the CAMA, 2020.
He also assured them of the commission’s continued support and cooperation and used the forum to congratulate the newly inducted CAC Staff by ICSAN.
Earleir, Olowokolade had applauded the reform initiatives of the commission and pledged the body’s continued support and cooperation with the CAC.
He said ICSAN was dedicated to enhancing the status and practice of corporate governance and public administration in the country adding that it was also a member of the Corporate Secretaries International Association (CSIA), a Honk Kong-registered global organisation dedicated to developing and growing the study and practice of secretaryship to amongst others improve professional standards.
He further assured that ICSAN members would continue to adhere strictly to professional ethics in the discharge of their responsibilities.
About 14 members of staff of CAC were recently admitted through the ICSAN Fast-Track in 2021 and inducted as associates of the institute in July 2021.
