Reps Question CAC Over N52.816bn Revenue in 2025
On Wednesday, the House of Representatives conducted an inquiry into the Corporate Affairs Commission (CAC) regarding its reported revenue of N52.816 billion generated between October 2025 and June 2026. The inquiry, led by Hon. Abiodun Jame Falek, focused on the reasons behind a N13.9 billion outstanding liability owed by the commission.
Hussein Ishak Magaji, the registrar of CAC, stated that the commission is a fully self-funding agency, with its income derived solely from internal revenue. The commission was asked to provide a breakdown of the registered entities, which numbered 322,008 during the review period.
Lawmakers expressed dissatisfaction with the responses provided and emphasized the need for an automated revenue generation system to enhance transparency and tracking. The committee plans to reconvene to further address these issues, with a focus on ensuring compliance with financial regulations and improving operational efficiency.
Plus234Feed summary based on reporting from Nigerian Tribune. Read the original report below.
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