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CAC Staff, NLC tackles Registrar-General, Abubakar over alledged N6.542 billion fraud [See Details]
Staff of Corporate Affairs Commission, CAC, an entity of government responsible for incorporation of Companies, and Non-governmental organisations under the Companies and Allied Matters Act, 1990 as amended have petitioned its Registrar-General, Alhaji Garba Abubakar over alledged N6,542,329,716.90 fraud.
In a petition dated 5th March, 2021 and which was addressed to the Chief of Staff to the President, Prof. Ibrahim Gambari was seeking the presidency’s intervention, saying the Registrar General’s involvement in authority stealing using his position has become unbearable given that the staff are being shortchanged as allowances and entitlements have been stopped.
CAC staff under the aegis of
Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees (AUPCTRE) authored the petition that hasn’t been clear, if the presidency has started acting on it.
The staff in the petition also raised doubts on Alhaji Garba Abubakar’s assets declaration hence, they urged the Code of Conduct Bureau (CCB) to investigate his claims in the form submitted to it under the relevant provisions of CCB laws.
The petition was also submitted to the National Assembly, complaining that staff were being victimised and have been transferred from the headquarters to zonal offices for exposing the Registrar-General’s financial malfeasance.
According to the Union, the Registrar-General didn’t stop at transferring its members, but, some of their members have been penciled to be sacked from the Commission very soon, while they appealed for the presidency’s intervention.
The staff who have already been transferred from the headquarters and likely to be sacked includes Suwidi Sani Kabir transferred to Abeokuta, Didam Laraba Joel married woman transferred to Lokoja, Glen Tabak Altine also married woman transferred to Jos and Buba Yusuf Dauda transferred to Enugu, Ibrahim Musa I. Kirfi transferred to Yola. Bello Fanini transferred to P/Harcourt, Abdulkadir Y. Giade transferred to Akure, while Sadiq shehu transferred to Ilorin.
Others include Bivan Stephen transferred to Zamfara, Labaran Sunday transferred to Damaturu, Egbelo Perpetua Eneh to Kaduna, Baba Tanimu, Nasiru B. Dembo and Muhammad Sani Binji to Lagos, Rabe Mai’adua, Ibrahim Isa and Umar Farouk from Kaduna to Abakaliki, Abuja and Uyo respectively, while Doffi Atoshi to Calabar, Amina B. Mohammed (married woman) from Yola to Abuja, Mohammed Nainna to Umuahia, Haruna Mohammed to Awka, Abbas Abdullahi to Jalingo, Waziri Isa, and Abubakar Sarkin Fulani to Damaturu.
In the letter titled: ”The struggle of AUPCTRE against corrupt practices in public service with a special focus on CAC” was signed by the acting General Secretary, Musa Ukpo.
The unionists alledged that the Registrar-General has infiltrated the Union, and “illegally dissolved them as well as banned them from operating, adding that the transfer was to enable him weaken them at a costs.”
In a copy of another petition which was addressed to the Chairman of Code of Conduct Bureau, the CAC union gave a graphic details of funds paid out under questionable circumstances especially in disregard to public finance regulation and asked the CCB to investigate RG’s assets as reflected in the asset declaration form and what he has now.
The Registrar-General, CAC, Alhaji Garba Abubakar was accused of abuse of power, financial impropriety and alleged commercialisation of promotion examination in the commission”, according to the petition which was signed by the acting Secretary General, Musa Ukpo.
Explaining the details of how the Registrar carted away funds using companies ofnhis vested interest, the Union said: “It has been discovered that the Registrar General of CAC, has used a front company called the Eminent Konsult of Centage Avenue, Ikeja, Lagos, to inflate consultancy fees for tax reconciliation on FCT Abuja Payee Tax Liability for 2018 and 2019 at an exorbitant amount of N43,072,046.67 million via PV no. 131817/2595 and PV no. 181818/2596 both dated 13th August, 2020 respectively.
“There is an alleged financial impropriety with regards to the cost fees of training of board members to the tune of N63,769,5000 million. The payments were made to Major Academy Ltd of No. 22, Isyaku Avenue, off Liberia street, Kaduna State in two installments.
The first was on the 13th July, 2020 with PV no. 111290/2206 where N31,023,000 million was paid while the other payment was made to same company on the 14th July, 2020 with PV no. 120368/2206 to the tune of N32,746,500 million.
“As against the provision of section 13 of the Code of Conduct Bureau and Tribunal Act, LFN 2004, there are serious cases of abuse of power, some of which include: Breach of section 40 of the Constitution, ILO Convention 154 (1981), 29 (1930), and sections 23-25 of Trade Union Act, LFN 2004.
“Unilateral decisions that affect staff welfare such as stagnation, alteration of promotion policies, refusal to pay staff promotion arrears of 2019 despite the availability of funds and budgetary provisions, stoppage of all staff loans schemes, including those of the cooperative societies, coercing of staff to forcefully resign their membership of the union and imposing on them the membership of another union of his choice, stoppage of union monthly deductions.”
It was alleged that the promotion examinations for 2019 and 2020 in the commission were commercialized. Vacancies were not declared in Human Resources and Finance departments in the appropriation year, yet he filled the vacancies with his favourites against the budgetary provision, thus a breach of the appropriation act.
In a related development, the Minister of Trade and Industry soiled his hands in the Commission contract by giving his son in law the cleaning services of CAC Jos, Ekiti, Ibadan and others (Domade Services Nigeria Limited) thus unable to call the Registrar General to order.
Irked by the RG’s high handedness, the Nigeria Labour Congress (NLC) protested at the headquarters of the Corporate Affairs Commission in Maitama.
The protest generated gridlock as motorists passing through Transcorp Hilton to NEPA to Nicon junction were caught up in traffic.
The action of the NLC was in solidarity with its affiliate union, the Amalgamated Union of Public Corporations, Civil Service Technical and Recreational Services Employees, AUPCTRE, which had alleged wrongdoings by CAC’s Registrar-General, Alhaji Garba Abubakar.
Besides accusing the CAC boss of thwarting their promotions, AUPCTRE had also accused Abubakar of indulging in divide-and-rule tactics, arbitrary transfer of union leaders, transfer of married women out of places where their spouses live, intimidation of workers against engaging in union activities among many others.
Speaking at the protest ground, NLC President, Ayuba Waba alleged that the Commission’s Registrar General, Garba Abubakar stalled staff promotion and brought in environmental experts to fumigate the agency for N35 million in view of the Covid-19 pandemic, including contracting someone to paint the Zone 5 annex office for N30,246,979.63 million.
Among other allegations raised by NLC was that the Registrar General transferred married women who are staff out of the Commission.
Waba vowed that the protest which he said, will be for three consecutive days, would paralyse the activities of the Commission if their grievances were not addressed today.
The NLC boss alleged that the CAC’s Abubakar committed various anti-union offences, ranging from corruption, illegal redeployment of married women out of the commission, stopping staff’s promotion arrears among others.
He alleged that Abubakar brought in environmental experts to fumigate the agency for N35 million in view of the COVID-19 pandemic, including contracting someone to paint the commission’s Zone 5 Abuja annexe office for N30,246,979.63 million to Man-Mohal Global Service Limited.
Procurement of Server DL 560 GEN 1085FF for N87,307,670.31 was approved at the Commission’s tenders Board despite the fact that it is above the threshold of the Commission. It was quickly taken to the Ministerial approval after the Union raised alarm.
On his part, AUPCTRE branch chairman, Comrade Ibrahim Kirfi, alleged that the CAC boss ignored series of actions it carried out with a view to averting the development.
According to him, different letters to him containing alleged infractions by the Commission were ignored.
The Education Ministry said it is in contact with security and education officials and is coordinating with admins and parents.
A plane carrying a group of 150 Israeli students on a trip to Poland made an intermediate landing in Antalya, Turkey, the Education Ministry said on Monday.
The landing was made following concerns about a technical malfunction, and for reasons of caution, a decision was made to stop in accordance with aviation rules.
N12 reported that a bird had entered the plane’s engine during the flight.
The high school student delegation – from Ein Kerem High School in Jerusalem – was en route to Poland on a standard school trip to learn about the events of the Holocaust. They were accompanied by security personnel from the Shin Bet, as is customary for any delegation to Poland.
The Education Ministry said that they are in continuous contact with security and education officials and are in coordination with school administrations and parents.
The Auschwitz-Birkenau concentration camp in Poland. September 19, 2021. (credit: NATI SHOHAT/FLASH90)
It was reported that all the students “are feeling well, staying in a safe and protected area within the airport, and are closely accompanied by the teaching staff who are with them at all times.”
In addition, the ministry was informed that a replacement plane is on its way to them, and it is estimated that at 3:00 p.m., they will take off for Krakow to continue their educational journey.
Holocaust learning
Israeli school trips to Poland typically take place in the winter and the summer, and, according to Education Minister Yoav Kisch, aim to allow “students to commemorate the victims of the Holocaust, to be exposed to the atrocities that took place, and to prove the victory and resurrection over the attempt to destroy the Jewish people.”
In November 2023, the ministry announced it would cancel the winter Poland trips due to the rise of antisemitism worldwide in the aftermath of the Israel-Hamas war.
…Declares a total dividend of N2.10 per share
Lagos, Nigeria, March 29, 2025: Leading financial institution, Fidelity Bank Plc, released its 2024 full-year Audited Financial Statements, reporting a 210% growth in Profit Before Tax to N385.2 billion.
According to the Bank’s results released on the Nigerian Exchange (NGX) on Friday, 28 March 2025, Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The increase in Interest Income was led by a combination of improved yield on earnings assets and 51.6% expansion in earnings base to N6.3tn. This led to a Profit After Tax of N278.1 billion, representing a 179.6% annual growth.
Commenting on the results, Dr. Nneka Onyeali-Ikpe,OON, Managing Director/Chief Executive Officer, Fidelity Bank Plc said, “We are delighted with our 2024 full-year (FY) performance, which showed strong growth across key revenue lines, improved asset quality, and significant traction in our strategic business segments. Our impressive results led to a triple-digit increase (210.0%) in Profit Before Tax (PBT), rising from N124.3bn in 2023 to N385.2bn in 2024.”
A further review of the financial performance revealed that the bank’s net interest income increased by 127.1% to N629.8 billion, driven by a high-yield environment in 2024. To optimize its margin, the bank sustained its asset yields above funding cost by maintaining a high low-cost deposit profile at 92.6%. This led to an increase in its Net Interest Margin from 8.1% in 2023 FY to 12.0%.
Similarly, the bank continued to deepen its market share in both the corporate and retail segments, with customer deposits increasing by 47.9% from N4.0trn in 2023FY to N5.9trn. The increase was driven by strong double-digit growth across all deposit types. The Retail Banking Business gained significant traction with savings deposits increasing by 28.8% to N1.1trn, marking the 10th consecutive year of double-digit annual growth in savings deposits.
Despite the difficult economic terrain in 2024, the bank has continued to support the real sector of the economy by increasing its Net Loans & Advances from N3.1tn in 2023FY to N4.4tn in 2024FY.
“This remarkable performance demonstrates our capacity to deliver superior returns to our shareholders. In line with our commitment to them, we have declared a final dividend of N1.25 per share, bringing our total dividend for the 2024 financial year to N2.10 per share”, explained Onyeali-Ikpe.
Having consistently paid dividends since 2006, Fidelity Bank will pay investors a total dividend of N2.10 per share for the 2024 financial year, subject to shareholders’ approval at its Annual General Meeting (AGM) on 29 April 2024. The dividend will be paid on 29 April 2025 to shareholders whose names appear on the register of members as of 15 April 2025.
It will be recalled that the bank successfully completed the first phase of its capital raising exercise through a Public Offer and Rights Issue in 2024, which were oversubscribed by 237.92% and 137.73%, respectively. The positive result is a testament to the strength of the Bank’s franchise in the capital market. A total of N175.9bn was recognized as fresh capital in 2024 financial year from the exercise, which had a positive impact on its Capital Adequacy Ratio (CAR) at 23.5%. The bank plans to conclude the second phase by Q3 2025, ahead of the Central Bank of Nigeria’s deadline, which will further strengthen its capital base and reaffirm its attainment of Tier 1 Bank status in the Nigerian Banking Industry.
Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
By Sunday James
The gruesome killing of 16 innocent northern hunters in Uromi, Edo State, over false accusations of kidnapping is yet another damning indictment of the failure of law and order in Nigeria.
Time and again, innocent lives have been lost to the mindless brutality of mob justice, a savage and inexcusable act that has become far too common across the country.
This is not an isolated incident. Nigeria has witnessed several tragic cases of jungle justice where angry mobs, fueled by misinformation and misplaced aggression, have taken the law into their own hands.
The Aluu Four incident in 2012, where four young university students in Rivers State were falsely accused of robbery, beaten, and burned to death in a horrific public spectacle, remains one of the most chilling examples.
In 2022, Deborah Samuel, a young student in Sokoto State, was lynched by fellow students over alleged blasphemy, an incident that sparked outrage but yielded little justice. In Lagos, several suspected petty thieves were set ablaze by mobs in broad daylight without any fair trial.
Across the country, from Anambra to Kano, Port Harcourt to Abuja, numerous cases of public executions by mobs continue to surface, often with little to no legal consequences for perpetrators.
The rise of mob justice is fueled by a cocktail of systemic failures that have left Nigerians disillusioned with formal justice mechanisms.
The breakdown of law and order, where the Nigerian police fail to deliver swift and transparent justice, has led to public distrust, encouraging citizens to take matters into their own hands. Rising insecurity, including the surge in kidnappings, banditry, and violent crimes, has left many communities in perpetual fear, triggering knee-jerk reactions to perceived threats. Ethnic and religious tensions have also played a major role, with deep-seated biases making certain groups more vulnerable to targeted attacks.
The proliferation of unregulated local vigilante groups and security outfits has further emboldened extrajudicial actions against innocent civilians. Additionally, the slow pace of criminal trials and the failure to punish perpetrators of jungle justice have normalized impunity.The Edo killings, like many before them, must not be swept under the rug.
The government must ensure immediate arrest, prosecution, and conviction of all those involved in this heinous act. Strengthening law enforcement agencies to curb vigilante excesses and restore public trust is paramount.
There must be massive public enlightenment campaigns to educate citizens on legal redress rather than mob action. Strict penalties must be enforced against communities and groups involved in jungle justice to deter future occurrences.The Nigerian government must wake up to its responsibility of protecting lives and ensuring justice for all.
If mob justice continues unchecked, no one is truly safe. This latest atrocity in Edo should be the final warning: justice delayed is justice denied. The killers must be held accountable, and a nationwide crackdown on jungle justice must begin immediately. Enough is enough. The rule of law must prevail.
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