Panic Over CAC Registrar-General’s Private Jet Video

Ishaq Hussaini Magaji, SAN, The Registrar-General of the Corporate Affairs Commission (CAC), has again come under intense public scrutiny following the circulation of social media posts and videos suggesting an opulent lifestyle and raising questions about accountability at the commission.

The posts, which surfaced online in recent days, show Magaji travelling on a private jet and publicly acknowledging hospitality from a private foundation. The development has sparked concern among insiders at the CAC, who allege growing unease over the Registrar-General’s work ethics and transparency.

According to sources within the commission, the CAC has failed to officially address the controversies generated by the posts and videos, opting instead to remain silent despite mounting public criticism.

In one of the videos, Magaji is seen boarding and travelling in a private jet, with an overlaid caption reading: “Thank you Emeka Ufor Foundation.” Other footage allegedly shows him moving in a security convoy and receiving a traditional chieftaincy title at a ceremony reportedly sponsored by a private energy foundation linked to high-value oil and gas interests.

The controversy is further fuelled by earlier allegations reported in December 2025, which claimed that Magaji quietly lifted a court-ordered restriction on corporate filings linked to OML 40, a major oil-producing asset associated with billionaire businessman Emeka Offor. Sources alleged that the restriction was removed shortly after Magaji assumed office, without public explanation.

Rather than issuing a formal clarification in response to the backlash, the CAC Registrar-General later posted on social media announcing his participation at the 2025 United Nations Convention Against Corruption (UNCAC) Conference of the States Parties in Doha, Qatar, alongside the heads of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC).

“Proud to represent Nigeria at the 2025 UNCAC Conference of the States Parties, alongside my colleagues, the EFCC boss and ICPC boss,” Magaji wrote.
The post, made days after the allegations resurfaced, has intensified online debate, with critics interpreting it as an attempt to signal political proximity rather than address the substantive issues raised against him.

The CAC plays a critical role in overseeing company registration, trusteeship and foundation records, beneficial ownership disclosures, and corporate filings across sensitive sectors such as oil and gas, banking and public procurement. Governance experts argue that officials occupying such strategic positions are expected to avoid not only conflicts of interest but also any appearance of undue influence or personal benefit.

As of the time of filing this report, no public clarification has been issued by the CAC regarding the private jet videos. There has also been no disclosure of who funded the travel, while neither the Minister of Industry, Trade and Investment, under whose supervision the CAC operates, nor the Presidency has made a public statement on the matter.
A senior source noted, “The CAC has issued no explanation, and the silence from supervisory authorities is deepening public concern.”

Separately, it was reported on January 3 that the Attorney-General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, directed the CAC Registrar-General to cancel what were described as “fraudulent filings” carried out on some Abuja-based companies. The directive was communicated in a letter signed by the Director of Public Prosecutions of the Federation, M.B. Abubakar, on behalf of the Attorney-General.

Additionally, the ICPC has reportedly been petitioned to investigate the CAC boss over allegations of unlawful alteration of corporate records, expropriation of shares and the removal of directors linked to the affected companies in Abuja.

The unfolding developments have continued to generate anxiety within regulatory and governance circles, as calls grow louder for transparency and accountability from the leadership of the Corporate Affairs Commission.