The Corporate Affairs Commission (CAC) has raised an alarm over the high number of fake companies in the country.
This is even as the commission says it has uncovered 189 fake companies used to secure land allocations in the Federal Capital Territory (FCT), Abuja.
The Registrar General of the commission, Hussaini Magaji, disclosed this during a press briefing in Abuja on Tuesday, October 24.
Magaji stated that the discovery was made following a complaint from the FCTA to verify the status of a non-existing company seeking land allocation.
He explained that the discovery of the non-existent company led him to investigate further, resulting in the identification of others existing for same purpose.
He added that two suspects including a lawyer have been apprehended and a cartel involving staff of Abuja Geographical Information System, lawyers, and the commission have been identified.
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 link of individuals that are creating havoc for the commission,” he said.
“This cartel creates companies through collaboration with some lawyers claiming to be accredited agents of the commission and staff of Abuja Geographical Information System to secure land allocations in the FCT and we only knew this crime after a complaint from the Federal Capital Territory Administration asking us to verify some applications made by some entities, which turned out to be non-existent on our system.”