‘Only 31% Of Registered Entities Filing Yearly Returns To CAC’

About 70 per cent of the registered entities between 2016 and
2018 failed to file returns of their financial activities to the
Corporate Affairs Commission (CAC) as required by law.

Indeed, the CAC noted that under the review year, it recorded a
total of 190,078 or 31 per cent return filings from entities, as
against 618,309 registrations recorded within the period.

This was revealed by the Acting Registrar-General, CAC, Lady
Azuka Azinge, during the quarterly customers/stakeholders’ forum
held in Lagos on Tuesday.

Although failure to file returns to the CAC may lead to
delisting of such entities from the registered list of the
commission, The Guardian could not confirm if sanctions have been
imposed already.

The CAC also added that a total of 327,676 business names were
registered, followed by 248,914 company registrations, while 41,719
Incorporated Trustees were registered.

A breakdown of the filings showed that registered companies
recorded 145,329 fillings, business names recorded 26,593 filings,
while 18,156 incorporated trustee filings were returned in the
period under review.

To further ease business registration process, Lady Azinge
disclosed that the commission recently dispensed with proficiency
requirement for the registration of all forms of businesses.

Under the new arrangement, she said members of the public do not
have to submit proficiency certificate to the commission for
registration of companies, business names and incorporated
trustees.

She re-assured that the commission remains committed to
reviewing its processes regularly, stating that work was at
advanced stage to amend its enabling law- the Companies and Allied
Matters Act (CAMA), in collaboration with the National
Assembly.

According to her, the planned amendment is aimed at enhancing
the commission’s supervisory and regulatory powers, adding that the
CAMA Amendment Bill had been passed by the Senate in July 2018 and
was before the House of Representatives for passage, after which it
will be assented to by the President.

She noted that the current administration’s agenda on ease of
doing business had galvanised the commission to further improve on
its registration and regulation services to teeming businessmen and
women in Nigeria.

The Vice President, Lagos Chamber of Commerce and Industry
(LCCI), Mrs. Toki Mabogunje, said the chamber has enjoyed robust
cordial relationship with the commission since its creation.

She said the international trade fair of the chamber held last
November in Lagos recorded a huge success with the presence of the
CAC, which availed most of its members and other small businesses
the opportunity to register their businesses and resolve issues
regarding companies and entities within the period.

Love Scammer Jailed after defrauding Foreign Lover
$140,000
The Economic and Financial Crimes Commission, EFCC, Benin Zonal
Office on Wednesday, January 16, 2019 secured the conviction of one
Onovo Osita Malachy at the Federal High Court sitting in Benin
City, Edo State.

The convict was arraigned on a one-count charge bordering on
obtaining by false pretence. He was said to have fraudulently
obtained the sum of $140,000 (One Hundred and Forty Thousand
Dollars) from a foreigner through a love scam.

Upon arraignment, the defendant pleaded “guilty” to the
charge.

The charge reads: “That you Onovo Osita Malachy on or about 4th
day of July 2017 in Benin Edo State within the jurisdiction of this
honourable court, did by means of fraudulent trick to wit: love
scam on a dating site obtained the sum of $140,000 only from Helen
Wang and thereby committed an offence punishable under Section 421
of the Criminal Code Act CAP C38 Laws of the Federation of
Nigeria,2004.”

Based on his plea, the prosecuting counsel, Larry Aso Peters,
prayed the court to convict and sentence the defendant
accordingly.

The defence counsel, I. U. Uchechukwu pleaded with the court to
temper justice with mercy as the defendant “has become
remorseful”.

Justice A. A. Demi-Ajayi sentenced the defendant to 12 months
imprisonment. The convict is also to forfeit all assets traced to
him including an uncompleted building and a Toyota Camry 2007 model
to the Federal Government of Nigeria.

Tony Orilade
Ag. Head, Media & Publicity
…………………………………………………………..

Surety Bags 3 Years in Jail for
Impersonation
….Another One Year for Fraud

Justice J.K. Omotosho of the Federal High Court, sitting in Port
Harcourt, Rivers State on January 17, 2019 convicted and sentenced
Festus Aniedel to three years imprisonment without an option of
fine.

Aniedel had stood surety for Victor Etsede, a suspect being
investigated by the Economic and Financial Crimes Commission, EFCC
for fraud.

But beyond standing surety for Etsede, investigations by the
EFCC revealed that the identification card presented by Aniedel in
which he claimed to be a staff of the Rivers State Sports Council,
was forged. He had used the card to pose as a Level 12 officer
working at the Council.

At the point of arraignment, he pleaded “guilty” to a
three-count charge bordering on “conspiracy, forgery and uttering”,
which was preferred against him the EFCC.

Justice Omotosho convicted and sentenced him accordingly.

In a related development, the Kaduna Zonal Office of the
Commission on January 17, 2019 secured the conviction of Umar
Galadima at the Federal high court sitting in Kaduna, Kaduna
State.

The convict was arraigned on a one-count charge bordering on
obtaining by false pretence. He was said to have defrauded and
obtained the sum of N5.3 million from one Jazime Isah Mustapha for
selling a house at No 16 Tola Road Badarawa, Kaduna which he
already sold to another person.

Upon arraignment, the defendant pleaded “not guilty” to the
charge.

The charge reads: “That you, Umar Galadima, sometime in February
2017, in Kaduna within the judicial Division of the Federal High
Court with intent to defraud, obtained the sum of N5,300,000 (Five
Million Three Hundred Thousand Naira) from one Jazime Isah Mustapha
under the false pretence that you are the rightful owner of the
property situate and known as No. 16 Tola Road, Badarawa, Kaduna
which you claim you have the right to sell same and you thereby
committed an offence contrary to Section 1 ( 1 ) ( a ) of the
Advance Fee Fraud and Other Fraud Related Offence Act 2006 and
Punishable under Section 1(3) of the same Act”.

In his judgement, Justice S.M. Shuaibu sentenced him to one year
in prison and another one year, if he fails to pay the balance of
the money as restitution to the victim.

Tony Orilade
Ag. Head, Media & Publicity
17th January, 2019

…………………………………………..

EFCC Nabs ‘Pastor’ for N27.9m Fraud
The Economic and Financial Crimes Commission, EFCC, on Wednesday,
January 16, 2019, arrested Anu Ojo Olakonori, a self-acclaimed
Pastor and founder of Angel on Guard Ministries for a N27.9 million
fraud.

Olakonori was arrested following a petition by the victim. The
complainant alleged that sometime in 2016, she was introduced to
the suspect by a pastor of hers in Bauchi for prayers and cleansing
because of the difficulties she was going through at the time.

The suspect under this guise started requesting for money from
her and she made transfers to him in different tranches amounting
to N27, 900,600 (Twenty Seven Million, Nine Hundred Thousand, Six
Hundred Naira) only.

Investigation has also revealed that the suspect used the said
sum to purchase various properties – house and cars, for
himself.

He will be charged to court as soon as investigations are
concluded.

Tony Orilade
Ag. Head, Media & Publicity