CAC Reports 248 Fake Companies to EFCC, Tackles Banks

Hussaini Magaji (SAN), registrar-general of the Corporate Affairs Commission, (CAC) has accused some banks and financial institutions of undermining Nigeria’s anti-corruption and compliance framework by allowing inactive and non-compliant companies to continue operating and transacting freely. Magaji also disclosed that the commission reported 248 fake company registrations to the Economic and Financial Crimes Commission (EFCC)

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