Trade Minister Petitioned Over CAC Records Alteration in River Park Estate Dispute

The Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, has been formally petitioned by Jonah Capital Limited and Houses for Africa Limited, two Abuja-based companies, over alleged administrative actions by the Registrar-General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, SAN.
The petition, submitted on behalf of the companies by Ghanaian investor Sir Samuel Esson Jonah, KBE, requested that the minister investigate what was described as the “unlawful expropriation of shares, extrajudicial removal of directors, and retrospective invalidation of corporate filings” by the CAC.
In a letter dated 8 December 2025, Jonah alleged that the Registrar-General had unilaterally reversed nearly two decades of corporate records for Jonah Capital Nigeria Ltd and Houses for Africa Nigeria Ltd. He noted that these actions had destabilised ownership, management, and ongoing litigation concerning the companies.
The petition stated that the CAC had “reverted the status of the companies back to incorporation—2006 for Jonah Capital and 2007 for Houses for Africa—despite only three filings being under contention, which are currently before the Federal High Court.” Jonah stressed that the commission was aware of the pending court proceedings prior to taking these administrative actions.
According to the petition, the Registrar-General’s actions could undermine ongoing legal processes and potentially result in significant commercial consequences. Jonah expressed concerns that the companies might be unable to defend themselves adequately and warned that banking relationships and investments linked to River Park Estate could be affected.
The petitioner also raised issues regarding regulatory consistency, noting that in 2023 CAC directed companies with foreign participation to raise their share capital to ₦100 million—a requirement his companies had complied with. Retroactive changes to corporate filings, he argued, placed the companies at risk of non-compliance and penalties.
Concerns about staff welfare were also highlighted, with Jonah stating that employees, both local and foreign, could face wrongful termination under the newly purported management structures imposed by the commission. He urged Minister Oduwole to intervene and direct the Registrar-General to reverse the administrative actions.
Earlier interventions by the Office of the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, had instructed CAC to suspend corporate actions relating to the companies while a review of police investigation files was ongoing. A letter dated 24 September 2025 from the Ministry of Justice requested CAC to preserve corporate records pending legal advice.
The Federal Capital Territory High Court has also ordered all parties to maintain the status quo regarding the disputed River Park Estate, halting development and transactions until the legal proceedings are concluded.
In addition, the House of Representatives has received a petition to investigate the alleged alteration of corporate records by the CAC Registrar-General. Hon. Muktar Tolani Shagaya (Ilorin West, Kwara State) formally laid the petition before the House, which was accepted during plenary presided over by Deputy Speaker Hon. Benjamin Kalu.
The CAC has denied any wrongdoing, maintaining that it acted within the scope of its statutory mandate. The matter continues to highlight the complexities of corporate governance and regulatory oversight in the Federal Capital Territory’s real estate sector.