The Corporate Affairs Commission says it has uncovered one hundred and eighty-nine fake companies used to secure land allocations in the Federal Capital Territory.
The Registrar General of the commission, Hussaini Magaji, who disclosed this during a news briefing on Tuesday in Abuja, stated that the discovery was made following a complaint from the Federal Capital Territory Administration to verify the status of a non-existing company seeking land allocation.
Magaji 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.
Explaining their mode of operations, the CAC boss said the cartel maneuvered the land process to make their applications for land allocation priority over existing applications aiding land fraud in the capital city.
He noted, “The nature of their crime is they create fake entities through connivance with some lawyers claiming to be accredited agents of the commission and staff of Abuja geographical information system and apply for land at the FCT, manoeuvring their ways to a priority application over existing application in other to take over lands and they have been quite successful before we discovered it.”
Speaking further on the vision of the commission, the registrar-general promised to increase the commission’s revenue base by sanctioning companies who fail to disclose their annual returns amongst other penalties.
He said that increasing its revenue base would enable the commission to perform its objective as a world-class commission.