Abuja, Nigeria – February 26, 2026 — In a significant escalation of legislative oversight, the Senate Committee on Finance has issued a warrant of arrest against Hussaini Ishaq Magaji, the Registrar General of the Corporate Affairs Commission (CAC). The action stems from Magaji's alleged repeated refusal to honor multiple invitations and summons to appear before the committee, particularly during ongoing budget defense sessions.
The decision was taken on Thursday, February 26, 2026, amid deliberations involving the Federal Ministry of Finance and its parastatals. Reliable reports from Nigerian news platforms, including Naija News and The Whistler, confirm that the warrant directs security agencies to apprehend Magaji and produce him before the committee to address pressing concerns.
Chairman of the Senate Committee on Finance, Senator Sani Musa (APC, Niger East), led the proceedings and voiced sharp criticism of the CAC boss's conduct. “The Registrar General has on so many occasions refused to honour invitations and summons by this committee,” Musa stated. He emphasized that the panel's frustrations centered on unresolved discrepancies in the reconciliation of the CAC's revenue figures. According to Musa, previous invitations had been met only with representations from junior officers, which the committee deemed inadequate for probing financial accountability.
“We have issues with the reconciliation of the revenue of the CAC but each time we summoned him, he would send a junior officer,” the chairman added. This recurring pattern has impeded the committee's constitutional duty to scrutinize revenue-generating agencies, ensure transparency in remittances to the Federation Account, and verify compliance with budgetary provisions.
The issue was first highlighted by Senator Orji Uzor Kalu (APC, Abia North), a key member of the committee. Kalu reportedly described the non-compliance as amounting to “serial disrespect” toward the Senate and a direct challenge to the National Assembly's oversight mandate. He urged the panel to recommend Magaji's removal from office to President Bola Tinubu, arguing that such behavior undermines legislative authority and public trust in governance institutions.
The Corporate Affairs Commission, established under the Companies and Allied Matters Act (CAMA) 2020, plays a pivotal role in Nigeria's business ecosystem. It handles the registration of companies, business names, incorporated trustees, and related filings, generating substantial internally generated revenue (IGR) through fees for incorporations, annual returns, name reservations, and other services. As a revenue agency under the supervision of the Federal Ministry of Industry, Trade and Investment, the CAC's financial operations fall under periodic review by the Senate Finance Committee during budget cycles.
Discrepancies in revenue reconciliation typically involve variances between self-reported collections, actual remittances to the federal treasury, audited accounts, and performance against set targets. Lawmakers have stressed the importance of accurate reporting, especially amid national efforts to diversify revenue sources beyond oil and improve fiscal discipline.
This is not the first instance of friction between the Senate Finance Committee and the CAC leadership under Magaji's tenure. In December 2023, shortly after his appointment as Registrar General in October 2023, the same committee—also chaired by Senator Sani Musa—invoked Section 89(2) of the 1999 Constitution (as amended) to direct the Inspector General of Police to compel Magaji's appearance within 24 hours. That directive followed similar allegations of shunning summons and unresolved account discrepancies during the 2024 budget defense. Reports from outlets such as Punch, Leadership, and ThisDay documented the 2023 episode, where the committee expressed outrage over what it called repeated disregard for legislative invitations.
Magaji, a Senior Advocate of Nigeria (SAN), assumed office with a mandate to modernize CAC operations. His leadership has focused on digital transformation, including enhancements to the online portal for faster registrations, reduced turnaround times, and initiatives to curb fake company registrations (with some cases referred to the Economic and Financial Crimes Commission). Despite these advancements, the role has attracted scrutiny through various petitions and allegations unrelated to the current legislative matter, including claims of interference in corporate records amid ongoing company disputes and other administrative controversies reported in prior years.
The warrant of arrest aligns with the National Assembly's powers under Sections 88 and 89 of the Constitution, which authorize committees to summon witnesses, demand documents, and enforce compliance through mechanisms such as warrants directed at law enforcement agencies. While the legislature cannot directly execute arrests, such warrants empower bodies like the Nigeria Police Force to act.
As of the afternoon of February 26, 2026, no official public statement has been issued by the CAC or Magaji in response to the warrant. The situation continues to unfold, with potential ramifications for the commission's ongoing operations, stakeholder confidence, and broader executive-legislative relations. Business owners, legal practitioners, and investors who depend on timely CAC services will monitor developments closely, as prolonged standoffs could affect registration processes and regulatory certainty.
This episode underscores recurring challenges in ensuring full accountability from heads of revenue agencies during legislative probes. The Senate Finance Committee's insistence on personal appearances reflects a commitment to rigorous oversight, particularly in an economic context where maximizing non-oil IGR remains a national priority. Resolution will likely hinge on Magaji's compliance with the warrant and subsequent detailed engagements on the revenue issues at stake.
