Why CAC must effect changes in corporate structure real-time - REA MD

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The Managing Director and Chief Executive Officer, Rural Electrification Agency, Ahmad Salihijo, has called on the management of the Corporate Affairs Commission to help curb infractions of malicious misrepresentations from CAC status report searches of directorship and trustees of incorporated entities, by ensuring prompt changes to corporate structures are carried out real-time across its platforms

He lamented a pushback against ongoing reforms at the agency by vested interests who were applying pressure with the hope that there would be some kind of change.

Salihijo cited the instance of a firm, Donnington Nigeria Limited, as behind a campaign of calumny that had targeted him and two other Executive Directors of the agency. The firm, in his case, he said, had maliciously misrepresented records at the CAC that made it look like he held the position of a director in Velocity Logistics & Marine Services Limited while at the same time being the boss of the REA, just to malign him.

He said, “For the Velocity story, for instance, where it was alleged that I breached the contract code. I have visibility on the document, that they had. What happened, is that those guys actually gave out the Memorandum and Article of Association which of course will have the directors on it. But what happens at the CAC is that once there is an update on directors, it doesn’t reflect on the Memorandum and Articles of Association but it reflects on the CAC Status report .

He also disclosed that he had discussed the infractions with the Registrar General of CAC, to address the gap, in order not to be exploited to malign innocent individuals.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

 

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