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Tag: CAC

  • CAC trains stakeholders to tackle corruption

    CAC trains stakeholders to tackle corruption

    Corporate Affairs Commission (CAC) has trained its stakeholders on the effective use of its new platform, the Beneficial Ownership Register (BOR), to tackle corruption in public and private business organisations.

    It said Persons with Significant Control (PSC), a registration platform in BOR, would assist the Federal Government to monitor money laundering and sponsorship of terrorism by organisations.

    The commission spoke in Port Harcourt during a one-day training of stakeholders on BOR, organised in partnership with USAID, Palladium and World Bank.

    The Registrar-General, CAC, Alhaji Garba Abubakar, said BOR would help in the war against terrorism and proliferation of arms.

    He said the verification platform was designed to ensure transparency and accountability in business transactions of public and private organisations.

    Abubakar, represented by the Director of Compliance, CAC, Mr. Justin Biraol, said the required push for BOR was given by former President Muhammadu Buhari at the London Anti-Corruption Conference/Summit of May 2015.

    He said commitment was made at the conference that the country would implement the requirements of beneficial ownership, as part of the overall national anti-corruption strategy.

    Abubakar said the development led to the repealing and re-enactment of the Companies and Allied Matters (CAC) Act 2020.

    He said the move led to the enactment of the Money Laundering Prevention and Prohibition Act, Terrorism Prevention and Prohibition Act and Proceeds of Crime Act of 2022 to ensure sanity among organisations.

    Abubakar said BOR was designed to serve as a verification platform for owners and significant members of business organisation.

    He said: “The commission with the assistance of the World Bank and other stakeholders such as Oasis developed and deployed the National Register of Beneficial Ownership on May 26, 2023 and has sequel to this deployment undertaken series of training on the use of the register.

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    “Prior to this period, the commission had collected Beneficial Ownership information for companies registered from January 1, 2021 through the

    CRP (Companies Registration Portal) in addition to collections from Annual Returns and Post incorporation filings for legacy companies.

    “The commission has also issued Beneficial Ownership or Persons with Significant Control Regulations 2022

    to provide clarity in the implementation of the framework. Other sector specific

    regulators have also issued guidelines or regulations on the same important issue.”

    Abubakar said the enforcement of BOR would assist the country to come out of the list of world’s Financial Task Force.

    He said the organised private sector was expected to use the register for customer due diligence and to check conflict of interests

    He said: “Effective implementation of the beneficial ownership framework is essential for the fight against corruption, money laundering, terrorism, terrorism financing, proliferation and proliferation financing.

    “It is also critical in the determination of

    whether or not the country gets off the grey list of the Financial Action Task Force.

    “It is also important to note that there are other key stakeholders that drive the

    implementation of the Beneficial Ownership framework. Any discuss will be incomplete without mentioning them.

    “The organised private sector is expected to use the register for customer due diligence and to check conflict of interest, the media for investigative journalism and the NGOs to promote accountability and transparency in governance, particularly in procurement.

    “The National Beneficial Ownership Register is one of the best globally, not only because of the involvement of World Bank in its development, but it is also the only register that provides for instantaneous online verification of the identity of the Beneficial Owner through integration with the National Identity Management Commission’s database.”

    Precilia Orukpe, representative of Oasis Management Company, the firm that developed the platform, said the platform was user friendly, adding that it had unique features.

  • ‘1985 CAC certificate is authentic’

    ‘1985 CAC certificate is authentic’

    The Supreme Council of Christ Apostolic Church (CAC) Worldwide and Overseas has said the 1985 Certificate of Incorporation of the church remained the only legal certificate.

    It said any other certificate other than that of 1985 was illegal because the certificate, together with the constitution attached to it, was what linked the church to its origin (founding fathers).

    The Supreme Council claimed to be the authentic CAC, having been in custody of the 1985 certificate of the church obtained from the Corporate Affairs Commission, which, according to it, was the original certificate.

    Speaking in Ibadan at the Graduation and Ordination of 2023 set of CAC Pastors Training Centre, held at CAC, Oke-Awamaridi, Odo-Ona, the General Secretary of the church, Pastor David Udofia, said any other certificate of incorporation done by other factions of the church was fraudulent.

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    He lamented that other factions had deviated from the practices of the church, saying the Supreme Council was ready to stand on the tenets of the church, in line with the aims of its founding fathers.

    He said the crisis rocking the church, which started almost 33 years ago, had not been able to be resolved despite series of reconciliation meetings, due to insincerity of some leaders in the church.

    Udofia, however, said the Supreme Council was open to reconciliation with other factions, “but any settlement or reconciliation must be based on the 1985 certificate of incorporation of the church, which was the laid down principles of its founding fathers.”

    The District Superintendent, Ekiti DCC1, Ado-Ekiti, Pastor Abraham Ayodele, in his sermon, urged the newly-ordained pastors to strive to meet the responsibilities attached to their calling.

  • We will see positive changes in Nigeria soon, says CAC president

    We will see positive changes in Nigeria soon, says CAC president

    President of the Christ Apostolic Church (CAC), worldwide, Pastor Samuel Oladele, has expressed optimism that Nigerians would soon see positive changes under the administration of Bola Tinubu.

    Pastor Oladele said he saw Tinubu as a serious individual.

    Oladele assured that positive changes would occur if the administration of Tinubu was not sabotaged.

    The CAC president spoke after addressing Pastors who gathered at the Babalola International Miracle Camp.

    Ikeji Arakeji, to attend this year’s Pastors’ conference.

    He said the current economic hardship was not peculiar to Nigerians adding that it was something needed at this time if it would lead to the betterment of life of Nigerians.

    According to him, “But is it something we need this time, I believe yes if it will lead to betterment of life of Nigerians. Life is not easy. If the road is rough we have an end in sight. I believe if we are upright, seek the face of the Lord, and turn from our wicked ways in Nigeria there is a kind of light at the end of this tunnel.

    “If we go by the promise made by President Tinubu, we will see some positive changes. I see him as a serious individual. We can see some changes in the few months that he has been there. We pray that he will not be sabotaged by some individuals. In the next four years, if we are patient, we believe there will be some changes.

    Read Also: CAC faction seeks genuine reconciliation

    “We have always told those in government that the reason they were elected is to see to the prosperity of the people. If they fail in that duty, they will stand before God one day. God is going to ask them one day how they conducted themselves while in a position of power.

    “We are not making it in terms of security. We have a long way to go. The security architecture must be rejigged. The country has to employ more hands. We are under the police. We are told that a local government in Niger State is bigger than the entire southeast, how many policemen do we have in that kind of place. We can do better than what we have.

    On the poor salaries being paid to Pastors, the CAC president said the church has set up a Committee to review the salaries of the Pastors upward as well as put smiles on the faces of the pastors.

    “We wish we could increase the salaries of our Pastors every year. When you look at the inflationary trend in the country, Pastors are human, we need to sit and think of how we can make life better for them. It is something we do every five years. But this time, we want to put smiles on our Pastors’ faces.”

  • CAC faction seeks genuine reconciliation

    CAC faction seeks genuine reconciliation

    The Supreme Council of Christ Apostolic Church (CAC), Nigeria and Overseas, a faction within the CAC, yesterday said the current state of the church was a disgrace, compared to the aim of its founding fathers.

    It lamented that attempt to reconcile warring groups within the church from the beginning of the crisis had failed because of insincerity of the leaders.

    Speaking in Ibadan at the opening of the Annual Pastor’s Conference of the church, held at CAC, Oke Awamaridi, Odo-Ona, the General Secretary, Pastor David Udofia, lamented that most of the leaders had been attending peace meetings with the aim of how to perpetuate themselves in their positions, rather than sacrificially seeking genuine resolution of the crisis.

    The Supreme Council claimed to be the authentic CAC, having been in custody of the 1985 certificate of the church obtained from the Corporate Affairs Commission, which according to them was the original certificate.

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    Udofia said in the past three decades, the number of modern Pentecostal missions had overtaken CAC in spiritual exploits, while CAC only boasted of past glory, adding that the worst was different strange doctrines and administrative practices that had been introduced into the church “by these factional leaders.”

    He said: “An example is the increasing emphasis on money. These factional leaders now organise grandiose project launching where they invite moneybags, whose salvation is questionable, simply because of their wealth.”

    Udofia extended hands of fellowship to other factions, who desired restoration of the church to her original foundation, saying “it’s time to move forward and forget the past.”

  • CAC registers 3,098,193 companies in 28 years

    The Corporate Affairs Commission (CAC) on Tuesday said it had registered 3,098,193 companies and firms in Part A, B and C categories from its inception in 1990 to March 21.

    The Acting Registrar General of CAC, Mrs Azinge Azuka disclosed this at the commission customers forum in Abuja.

    Azuka said that in the last three years, the statistics on registration of firms and companies under Parts Limited Liability Company (A), Business Name (B) and Incorporated Trustee (C) was 618,309.

    She explained that in 2016, the council got the sum of 175,098 from the LLC (A), 193,194 from Business name (B) in 2017 and  252,035 from Incorporated Trustee (C) in 2018.

    Azuka said the number of Annual Returns filed under the Parts A,B and C in the last three years was 190,078.

    According to her, the major thrust in the present administration is to revamp the Nigerian economy though the support of Micro Small and Medium Enterprises (MSMEs).

    Read also: New CAC for Apapa port

    She said the commission remained resolute in reviewing its processes regularly, in a bid to improve service delivery.

    “In that regard, work is at advanced stage to amend it enabling law, the Companies and Allied Matters Act (CAMA) in collaboration with the National Assembly.

    “This seeks to ease starting and growing businesses in Nigeria, ensure more appropriate regulation for MSMEs.

    “Enhance transparency and shareholders engagement align regulate framework with International best practices and make Nigeria an investment destination of choice,” she said.

    CAC was established by the Company and Allied Matters Act, which was promulgated in 1990 to regulate the formation and management of companies in Nigeria. (NAN)

  • Abiara backs workers on N30,000 minimum wage

    Immediate past General Evangelist of the Christ Apostolic Church (CAC) Worldwide Prophet Samuel Abiara has backed the Nigeria Labour Congress (NLC) demand of N30, 000 as new minimum wage.

    The demand, he said, is not only in order but even small going by the astronomical rise in prices of goods and services in the nation.

    He appealed to the federal government to accede to the demand of the workers for them to earn a decent take-home and avert strike that may cripple the economy.

    Abiara, in his New Year message, said: “Nigerian workers are demanding for $87, which is N30, 000 only. What they are asking for is not too much because prices of thing have gone up especially food items.

    “I want to use this medium to advise the Federal Government to do something reasonable about workers’ salary.

    “The government should not allow them to go on strike because it will cripple the economy.”

    Abiara called on government to also make welfare of the masses a top priority in 2019, calling on well-to-do Nigerians to also empower the less-privileged.

    According to him: “Government should remember to reach out to the poor people in the country this year.

    “Those who are blessed by God should help the less privileged in the society.

    “People in positions of authority, businessmen and women that want to enjoy the backing of God must help the less privileged.”

    He advised politicians to avoid hate speech in the run-off to the general elections and be ready to accept the outcomes of the polls in the spirit of good sportsmanship.

  • Court upholds CAC’s rejection of same sex group

    Proponents of same sex union have suffered a major defeat as a Federal High Court in Abuja has rejected their move to legitimise their activities in the country.
    Justice Nnamdi Dimgba, in a judgment on Friday, upheld the decision by the Corporate Affairs Commission (CAC) to reject an application for the registration of a lesbian group.
    The judgment was on a suit, marked: FHC /ABJ/CS/827/2018 filed by Pamela Adie, through her lawyer, Mike Enahoro-Ebah.
    According to court documents, Pamela founded the group – Lesbian Equality and Empowerment Initiatives (LEEI) – sometime in October 2017, with the aim to advocate for the rights of people with same sex sexual orientation.
    She subsequently applied to the CAC for registration, an application the agency turned down on the ground that it, among others, offends public policy.
    Pamela then approached the court, by way of a fundamental rights enforcement application, contending the CAC’s decision amounted to a violation of her constitutionally guaranteed right to form and belong to an association.
    She prayed the court for an order of mandamus, compelling the CAC to forthwith issue notice of approval for her group, the “Lesbian Equality and Empowerment Initiatives” for onward registration with the Commission.
    Justice Dimgba, in the judgment on Friday, upheld the counter-argument by the respondent (the CAC), to the effect that its refusal to register the group was in compliance with Section 30 (1)(C) of the Companies And Allied Matters Act (CAMA) Cap C20 Laws of Federation of Nigeria 2004.
    ‎The judge said: “It is my view that, where either the proposed name of the company or its aims and objectives are caught by the provisions of Section 30 (1)(C) of CAMA, the respondent (CAC) is duly empowered to reject such an application for reservation of name or registration as it has done in this case.
    “Section 30(1) (c) of CAMA reads: ‘No ‎company shall be registered under this Act by a name which- (c) in the opinion of the Commission is capable of being misleading as to the nature or extent of its activities or is undesirable, offensive or otherwise contrary to public policy.’
    “There is no doubt that the applicant has the right to form or belong to any association of her choice as provided by Section 40 of the 1999, in so far as the enjoyment of such a right is not limited by Section 45 of the same Constitution, which provides the basis for the limitation of the enjoyment of the rights guaranteed by Section 40 above.
    “Instances where the right to form and belong to an association can be limited, as provided in Section 45 (1) (a) of the 1999 Constitution, includes situations where such a right is in conflict with public safety, public order, public morality.
    “As such, the rights of the applicant to form and register an association are not absolute. They are to be exercised and enjoyed within the precincts of the law.
    ‎”Strictly speaking, it is on the basis of the protection of public morality, as provided  by Section 45 (1) of the 1999 Constitution, that some laws were enacted by the National Assembly to safeguard same.
    “The Same Sex Marriage (Prohibition) Act of 2013 is an example of one of these laws. Section 4 (1) of the Same Sex Marriage Act prohibits the registration of same sex associations.
    “It provides as follows: ‘The Registration of organisations, of their meetings is prohibited. Gay clubs, societies and sustenance, processions and meetings are prohibited.’
    “It could not have been the intention of the Legislature to prohibit the registration of gay associations, while allowing lesbian associations, as learned counsel (for the applicant) appears to be advocating with this distinction.
    “The court, being a court of law and justice, must give effect, not just to the literal meaning of words, but also give effect to the real intention of the Legislature in the construction of statutes.
    “Moreover, it is common knowledge that in recent times, the word “gay” is used to denote homosexuals, lesbians, bisexuals and transgenders.
    “On the contention that the rejection of the reservation of the applicant’s proposed name of an association is a violation of the applicant’s right to freedom of expression, it is my view that such an argument merits a summary dismissal as the arguments in support of this contention are similar to the one earlier dismissed,” the judge said.
    He agreed with the applicant that she has the right to freedom of expression, but held that the CAC did not violate Pamela’s right to freedom of expression in rejecting her application.
     The judge noted that the name of Pamela’s group was, in itself, in collision with an existing and operational law.
    Justice Dimgba added: “The respondent being a regulator, was established to carry out functions as listed in Section 7 of CAMA, which includes the regulation and supervision of the formation, incorporation, registration, management, and winding-up of companies.
    “It is also empowered under Section 30 of CAMA to exercise its discretion in the approval of names for registration.
    “So far as the Same Sex Marriage (Prohibition) Act is still much operative in Nigeria and has not been repealed, the case of the applicant must fail,” the judge said and proceeded to dismiss the suit.

  • CAC holds 20th anniversary

    The Christ Apostolic Church Theological Seminary (CACTS), Lagos Campus will today hold its 20th anniversary, convocation and dedication of its ultra-modern chapel auditorium and office complex.

    According to the Coordinator, Pastor Francis Olaniyi, the event will hold at the chapel auditorium in Idimu, Lagos.

    He said the multi-million naira auditorium would enable the seminary have the required facilities to accommodate more students.

    According to him, the seminary is aimed at raising ministers of God.

    The ceremony, he said, will be graced by the CAC Worldwide President Pastor Abraham Akinosun.

    He added that admission into the seminary is still ongoing.

    He said 350 students who have studied between two to four years at different levels would be graduating from the seminary.

    “It is part of our efforts to ensure that our products are academically and morally sound,” he said.

  • Police write CAC over printing press

    Lagos Police Commissioner Imohimi Edgal yesterday said the command has commenced investigation to unravel the identities of all directors of the printing press where alleged fake electoral materials for Ekiti governorship elections were found.

    The police on Monday evening invaded the printing press, O’Naphtali Limited, located at 13A and 13B Oguntano Street, Gbagada, Lagos and arrested two persons, after allegedly uncovering materials purportedly for use on Saturday in Ekiti.

    Already, Edgal said the command had written the Corporate Affairs Commission (CAC), requesting the identities of the company’s directors.

    He said it became necessary for the team of investigators to write the CAC in order to enable them get to the root of the case.

    The police boss said the command’s ICT experts have also been able to extract useful information from the laptops that were recovered from the company.

    He said: “We have extracted useful information from the two computers. The team of detectives are working round the clock to ensure that investigation into the case is concluded in due time.”

     

     

     

     

     

     

     

     

     

  • CAC to fight indiscipline among clerics, members

    The Christ Apostolic Church (CAC) has pledged to fight indiscipline among its clerics and members.

    This followed the effects of false prophesies on the church and their consequences on people’s lives.

    The church’s General Evangelist Worldwide, Prophet Hezekiah Oladeji, said this was part of efforts to flush out fake prophets and eliminate false prophecies to restore people’s confidence in the church.

    The cleric said the church would henceforth constantly monitor prophets within the mission to ensure their compliance with the patriarchs’ standards.

    Oladeji spoke at the weekend at Apostle Joseph Ayo Babalola Memorial Grounds at Ikeji Arakeji in Osun State during his inauguration as CAC General Evangelist Worldwide and Duty Commencement Service.

    The church leader advised members to cooperate with CAC clerics to reawaken evangelism, which he called the hallmark of the church.

    Oladeji was appointed the fifth CAC General Evangelist five months ago, following the retirement of his predecessor, Prophet Samuel Abiara.

    CAC President, Pastor Abraham Akinosun, who presided over the event which was graced by clerics from various denominations, Christians, traditional rulers and crème-la-crème of society, extolled the virtues of the new general evangelist, who he said had taken giant strides to move the church forward within the few weeks of assumption of office.

    Senate President Bukola Saraki lauded the appointment of Oladeji, who he described as a preacher of righteousness and a reformer.

    He added: “It is a new dawn.”

    Saraki, who was represented by his Deputy Chief of Staff, Gbenga Makanjuola, said the new CAC General Evangelist “is trustworthy, God-fearing and humble,” adding: “With this new responsibility, I pray that the Lord gives him the spirit and anointing to carry on.”

     

    Akeredolu, Dogara, others excited by CAC’s unification

    Eminent Nigerians at the weekend converged on Joseph Ayo Babalola Memorial Camp at Ikeji-Arakeji in Osun State for the inauguration/duty commencement service of Prophet Hezekiah Oladeji as the New General Evangelist of CAC (Worldwide).

    At the impressive ceremony, Ondo State Governor Oluwarotimi Akeredolu (SAN), Ekiti State Deputy Governor Kolapo Olusola, former Attorney-General and Minister of Justice, Akin Olujimi (SAN), among others, attended the event.

    Oladeji, 51, from Odo-Owa in Kwara State, succeeded Prophet Kayode Abiara, an indigene of Erin-Ijesa in Osun State.

    Akeredolu expressed delight about the moves by CAC leadership to settle their aged-long dispute to embrace unity.

    As one of the lawyers who handled the church’s litigation alongside Olujimi, the governor recalled the past acrimony and rejoiced with CAC leadership and members for the new development, especially the enviable heights attained by Joseph Ayo Babalola University (JABU), which he said was founded with good vision.

    Akeredolu described Oladeji as a “great Evangelist” who would use his position to win many souls and enhance unity within the CAC’s fold.

    House of Representatives Speaker Yakubu Dogara, who was represented by Biodun Adeogun, representing Ife Federal Constituency, hailed Oladeji’s elevation as General Evangelist.

    The speaker said he was ready to support evangelism and unity within the church.

    Olusola, who is also a Pastor in the church, said the story of the humble beginning of the new General Evangelist would rekindle an end-time revival of unity as the helmsman is a “young man” with greater testimony.

    He said: “This is the era of youths. It had never happened in the history of CAC for a 51 year-old to become its General Evangelist.”

    CAC President Abraham Akinosun congratulated Oladeji and urged him to re-invigorate evangelism across the world.

    According to him, grassroots evangelism has suffered, mostly in the hands of mass media revivals.

    He said: “Church ministry is a battleground. You should imitate greater evangelists, be exemplary and remain an embodiment of spiritual reality.”