The Senate Committee on Finance has issued a warrant of arrest against the Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, over his repeated absence from hearings to clarify issues surrounding the agency’s finances.
The decision was taken on Thursday during a budget defence session at the National Assembly with the Federal Ministry of Finance and its agencies. Lawmakers said the action followed persistent failure by the CAC chief to honour invitations to address concerns about revenue reconciliation.
Chairman of the committee, Senator Sani Musa, accused Magaji of disregarding several summons issued to him. He said the committee had sought clarification on discrepancies in the Commission’s revenue profile but that the Registrar General reportedly sent junior officials instead.
“The Registrar General has refused on so many occasions to honour invitations and summons by this committee,” Musa said, adding that the panel required his direct appearance to resolve outstanding financial questions.
The situation escalated after Senator Orji Uzor Kalu called for stronger action, arguing that continued defiance undermines the oversight authority of the National Assembly. He urged the committee to consider recommending Magaji’s removal to President Bola Tinubu if he fails to comply.
Senator Adams Oshiomhole supported the position and proposed that budgetary approval for the CAC in the 2026 Appropriation Act be withheld until the agency head appears before lawmakers.
Oshiomhole also suggested restricting the Commission from spending funds generated through its internally generated revenue without prior legislative approval, pending clarification of the financial issues under review.
The committee unanimously backed the proposal, signalling possible financial restrictions on the agency if compliance is not met.
The CAC, which oversees the registration and regulation of companies, business names and incorporated trustees in Nigeria, generates substantial revenue annually from statutory services. It has recently faced increased scrutiny from lawmakers over concerns about transparency and revenue management.
