The Senate Committee on Finance on Thursday called on President Bola Tinubu to terminate the appointment of Hussaini Magaji, the Registrar-General and Chief Executive Officer of the Corporate Affairs Commission (CAC), over his failure to honour repeated invitations by the committee.
According to reports, Mr Magaji, a Senior Advocate of Nigeria (SAN), has failed to appear before the senate panel on Financial matters on several occasions to account for the agency’s revenue and major performance since assuming office.
Sani Musa (APC, Niger East), the Chairman of the committee made public the resolution after the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Budget and Economic Planning, Atiku Bagudu, appeared before the panel to defend their proposals for the 2026 budget.
Heads of other agencies under the committee’s oversight, including the Nigeria Revenue Service (NRS), the Tax Ombudsman Office, the Nigerian Customs Service (NCS), and the Office of the Attorney-General of the Federation, were also present. However, the CAC registrar-general was absent and sent a representative instead.
The move for Mr Magaji’s removal was initiated by Orji Kalu (APC, Abia North). He complained that the registrar-general had repeatedly failed to appear before the committee despite several warnings.
Mr Kalu, a former governor of Abia State, said if ministers who occupy constitutionally higher offices could honour the committee’s summons, the CAC registrar-general had no justification for failing to do so.
“This man is not coming to the Senate; he’s not above the law. This is the minister of finance and the minister of budget; they’re here. We summoned them and they came, and this man thinks he’s big over the Senate. We’re not going to take that rubbish again.
“I move a motion that that man should be reported to Mr President and ask for immediate removal because we cannot continue with this man. This CAC man, since I came to this Senate, has never appeared; he will continue saying he’s in the villa, he’s going to London. Is that what we’re doing here? He should come and give us an account of what he had done,” Senator Kalu said.
Following the motion to terminate the appointment of Mr. Magaji, the senate committee put the motion on a public vote, where the majority of the panel called for his immediate sack, before the Committee chairman announced the resolution accordingly.
According to Senator Musa, the committee has a problem with the registrar – general’s refusal to show up as he continued sending junior officers upon invitation.
“The registrar-general of the CAC has refused on many occasions to honour the call, invitations or summons of this most important committee. As registrar-general, we have issues with his reconciliation of their revenue. Anytime he’s invited, he’ll give us one reason or the other and he’ll send junior officers to come and talk to the Senate,” he said.
CAC is the federal agency responsible for the registration and regulation of companies, business names, and incorporated trustees in Nigeria. Established under the Companies and Allied Matters Act (CAMA), the commission maintains the official registry of corporate entities, ensures compliance with statutory filing obligations, and oversees corporate governance disclosures.
As the driving force of Nigeria’s corporate database, the CAC plays a central role in the country’s business environment. It processes company incorporation, annual returns, changes in directorship and shareholding, and other post-incorporation filings. The commission also generates revenue for the federal government through registration fees, filing charges, and related services.
However, while the National Assembly has constitutional authority to investigate agencies and recommend actions, the power to appoint or remove the head of an executive agency, such as the CAC, ultimately rests with the President, subject to the provisions of the law establishing the agency and any confirmation requirements. Lawmakers may, therefore, pass a resolution recommending removal, but the final decision lies with the executive arm of government.
