The House of Representatives has formally received a petition requesting an investigation into the alleged tampering of corporate records by Hussaini Ishaq Magaji, SAN, the Registrar-General of the Corporate Affairs Commission (CAC). The petition, filed on behalf of two companies, Jonah Capital Nigeria Ltd and Houses for Africa Nigeria Ltd, accuses Magaji of unlawfully altering their corporate records to favor a rival party.

The petition was presented during the House of Representatives’ plenary by Hon. Muktar Tolani Shagaya from the Ilorin West Federal Constituency of Kwara State. Addressing the House, Hon. Shagaya stated:

“Mr. Speaker, I rise this morning to lay a petition before this Honourable House, signed by Kojo Mensah Ansah. The petition concerns the unlawful expropriation of shares, extrajudicial removal of directors, and retrospective invalidation of corporate filings of Jonah Capital Nigeria Ltd and Houses for Africa Nigeria Ltd by the Registrar-General of the Corporate Affairs Commission, Mr. Hussaini Magaji, SAN. I seek the leave of the House to lay this petition.”

The Speaker, Hon. Benjamin Kalu, granted leave for the petition to be laid before the House.

Alleged Tampering and Ownership Disputes

The ownership dispute surrounding the River Park Estate in Abuja has escalated into a full-blown corporate crisis, with allegations that the CAC Registrar-General tampered with the records of Jonah Capital Nigeria Ltd and Houses for Africa Nigeria Ltd. According to the petitioners, Magaji expropriated shares and reassigned them to rival claimants amid an ongoing land ownership dispute.

This matter gained further attention after Nyesom Wike, the FCT Minister, publicly declared on Channels TV that Samuel Jonah and Jonah Capital were the original allotees of the River Park Estate. Despite a court case and Attorney General’s directives, Magaji allegedly proceeded to alter the corporate records of the two companies, expunge public filings, and remove duly appointed directors, reinstating former directors instead.

Kojo Mensah’s Statement on Alleged Unlawful Changes

In a strongly worded statement issued by Kojo Ansah Mensah, CEO of Jonah Capital Nigeria Ltd, he accused the Registrar-General of unlawfully altering the companies’ ownership structure on December 8, 2025, despite a court action and a directive from the Attorney General to halt any such changes pending investigation.

Mensah added that the Attorney-General’s office had, on September 24, 2025, instructed the CAC to place a caveat on the records of both companies until a review was conducted on allegations of forgery against Sir Samuel Jonah, Kojo Mensah, Victor Quainoo, and their Nigerian lawyer, Abu Arome Esq.

Despite these instructions, Mensah claims that Magaji went ahead and effected the controversial changes. Furthermore, at a meeting on December 1, 2025, involving representatives of the Attorney General’s office, Magaji allegedly misrepresented that the investors had not appeared. Mensah described this assertion as “bizarre and false.”

Claims of Disruption to Company Operations

Following the changes, individuals newly appointed as directors—Olakitan Ogunmuyiwa and Adeniran Ogunmuyiwa—reportedly instructed banks, including Zenith Bank, to close the companies’ accounts. They also wrote to the FCT Minister announcing a purported takeover of the companies.

Mensah described these actions as attempts to disrupt the companies’ operations, stating:

“These hurried actions are designed to disrupt the operations of the company.”

Petition to the National Assembly and Further Developments

The Ghanaian investors have since petitioned the National Assembly and the Attorney General of the Federation, urging that the actions of the CAC Registrar-General be investigated. The petitioners warned that the actions could set a dangerous precedent, potentially enabling the hostile takeover of foreign-owned companies by government officials.

In an interesting development, Houses for Africa Nigeria Ltd issued a rebuttal to claims made by Dr. Adeniran Ogunmuyiwa, who had recently attempted to represent the company. The statement, dated October 11, 2025, clarified that Ogunmuyiwa had ceased to be a shareholder or director of the company years ago.

The company detailed the history of Ogunmuyiwa’s exit, including the relinquishment of his 20% shares in 2012, formalized in a 2013 Special Resolution, and a 2017 resignation letter. Ogunmuyiwa had been granted development rights over land in River Park, but according to the company, he failed to meet his obligations, leading to legal complications.

The Crisis and Potential Consequences

The dispute surrounding the River Park Estate has now evolved into one of Nigeria’s most complicated corporate governance cases, with allegations of forgery, corporate sabotage, and a hostile takeover attempt. The controversy is further complicated by the CAC’s intervention and conflicting claims of directorship and ownership.

Industry analysts have expressed concern that the CAC’s actions—if not reversed or clarified—could undermine investor confidence and fuel fears of politically motivated corporate takeovers, especially involving foreign investors.