The Senate Committee on Finance on Thursday urged President Bola Tinubu to terminate the appointment of Hussaini Magaji, the Registrar-General and Chief Executive Officer of the Corporate Affairs Commission (CAC), over his refusal to honour repeated invitations by the committee.
It said Mr Magaji, a Senior Advocate of Nigeria (SAN), has failed to appear before its members on several occasions to account for the agency’s revenue and performance since assuming office.
|
|
The Chairman of the Committee, Sani Musa (APC, Niger East), announced the resolution when the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Budget and Economic Planning, Atiku Bagudu, appeared before the panel to defend their proposals for the 2026 budget.
Heads of other agencies under the committee’s oversight, including the Nigeria Revenue Service (NRS), the Tax Ombudsman Office, the Nigerian Customs Service (NCS), and the Office of the Attorney-General of the Federation, were also present. However, the CAC registrar-general was absent and sent a representative instead.
|
|
|
|---|
Call for Magaji’s termination
The motion for Mr Magaji’s removal was moved by Orji Kalu (APC, Abia North). He complained that the registrar-general had repeatedly failed to appear before the committee despite several warnings.
Mr Kalu, a former governor of Abia State, said if ministers who occupy constitutionally higher offices could honour the committee’s summons, the CAC registrar-general had no justification for failing to do so.
“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.
Stay Ahead with Premium Times
Follow us on Google News and never miss breaking stories, investigations, and in-depth reporting.
Add as a preferred source on Google
“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 said.
ALSO READ: Senate demands recruitment of more judges for Public Complaints Commission
Following the motion, the committee chairman put it to a voice vote, and the majority of members supported it. Mr Musa subsequently announced the resolution and directed that the recommendation be forwarded accordingly.
Mr Musa said the committee has concerns about the CAC’s revenue reconciliation and accused the registrar-general of repeatedly sending junior officers in his place.
“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 said.
CAC is the federal agency responsible for the registration and regulation of companies, business names, and incorporated trustees in Nigeria. Established under the Companies and Allied Matters Act (CAMA), the commission maintains the official registry of corporate entities, ensures compliance with statutory filing obligations, and oversees corporate governance disclosures.
As the custodian of Nigeria’s corporate database, the CAC plays a central role in the country’s business environment. It processes company incorporation, annual returns, changes in directorship and shareholding, and other post-incorporation filings. The commission also generates revenue for the federal government through registration fees, filing charges, and related services.
Given its revenue-generating role and regulatory importance, the CAC falls under the oversight of the National Assembly. Sections 88 and 89 of the 1999 Constitution (as amended) empower the National Assembly to conduct investigations into the activities of any authority or person charged with the administration of federal laws or the disbursement of public funds. The legislature may summon public officials to appear before it to provide explanations or produce documents in the exercise of this oversight function.
However, while the National Assembly has constitutional authority to investigate agencies and recommend actions, the power to appoint or remove the head of an executive agency, such as the CAC, ultimately rests with the President, subject to the provisions of the law establishing the agency and any confirmation requirements. Lawmakers may, therefore, pass a resolution recommending removal, but the final decision lies with the executive arm of government.
Discover more from Premium Times Nigeria
Subscribe to get the latest posts sent to your email.
More News
