The Corporate Affairs Commission (CAC) has announced the commencement of another exercise to remove 100,000 companies from Nigeria’s register of companies for failing to comply with statutory requirements under the Companies and Allied Matters Act (CAMA), 2020.

In a public notice issued on Thursday, and dated July 15, 2026, the commission said the exercise was being carried out pursuant to Sections 692(3) and 692(4) of the Companies and Allied Matters Act, 2020.

The notice stated: “This is to notify the General Public and Esteemed Customers that the Corporate Affairs Commission has commenced another round of striking off names of companies from the Register pursuant to the provisions of Section 692 (3) and (4) of the Companies and Allied Matters Act, 2020.”

According to the commission, the affected companies are listed on its official website.

“The list of the affected One Hundred Thousand (100,000) companies can be accessed at the Commission’s Website,” the notice said.

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The CAC directed all affected companies to update their records by filing outstanding annual returns and beneficial ownership information within 90 days.

“The affected companies are hereby advised to take steps to file all outstanding Annual Returns (and by extension Persons with Significant Control/Beneficial Ownership information) and regularize their records within ninety (90) days of this notice,” the commission said.

It added that companies must send proof of compliance to the designated email address, [email protected], within the stipulated period.

The commission warned that failure to comply would result in the affected companies being removed from the register without any further notice.

“Please note that companies that fail to comply within the stipulated timeline shall be struck off the Register without further notice,” the notice stated.

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The CAC reiterated its commitment to improving service delivery, saying, “The Commission remains committed to providing prompt and efficient services to the satisfaction of our valued customers.”

ValueJet is set to expand its fleet with the introduction of Boeing aircraft. The airline in a statement said that the introduction of Boeing aircraft was part of its effort at increasing capacity, strengthen its regional operations and position the airline for wider connectivity across Africa.

The acquisition of Boeing aircraft is coming after its successful operations with the Bombardier CRJ aircraft, which have supported its domestic and regional expansion since it commenced commercial operations.

Omololu Majekodunmi, Managing Director of ValueJet, said the move would enable it to accommodate more passengers and cargo, operate longer routes and respond to the growing demand for air travel within Nigeria and across the African continent.

Majekodunmi, also said that the fleet expansion was a defining moment in the company’s journey, noting that the introduction of the Boeing aircraft would open a new chapter for the carrier.

According to him, ValueJet has remained focused on building a safe, reliable and customer-oriented airline since its entry into the market, adding that the transition to Boeing aircraft was being supported by investments in manpower development and technical capacity.

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He said: “The arrival of Boeing aircraft into our fleet represents an exciting new chapter for ValueJet. Since commencing operations with our CRJ aircraft, we have remained focused on building a safe, reliable, and customer-centric airline.

“As we prepare to induct the Boeing aircraft, we are also investing in our people by ensuring our engineers receive world-class training that will enable us to maintain the highest standards of safety, reliability, and operational excellence. This investment positions us for the next phase of our growth and reinforces our commitment to delivering an exceptional travel experience.”

According to Majekodunmi, as part of preparations for the fleet upgrade, ValueJet’s aircraft maintenance engineers are already undergoing intensive technical training on Boeing aircraft in Lagos.

The training, delivered by Boeing through its partnership with Nigeria’s Federal Ministry of Aviation and Aerospace Development, focuses on the Boeing 737 Next Generation (737NG), covering aircraft systems, maintenance procedures, safety standards and operational best practices.

The airline said the training would equip its engineers with the required expertise to maintain the new aircraft type in line with global aviation standards, including European Union Aviation Safety Agency (EASA) requirements.

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Also speaking, Adekunle Soname, Chairman of ValueJet, said the introduction of Boeing aircraft was not just a fleet expansion programme, but a strategic investment aimed at supporting the airline’s long-term growth ambitions.

With the planned arrival of the Boeing aircraft, ValueJet is targeting expansion into more African destinations, including Abidjan in Côte d’Ivoire, Libreville in Gabon, Douala in Cameroon, as well as cities in Kenya and South Africa.

The airline said the new routes would form part of its strategy to strengthen intra-African connectivity and provide passengers with more travel options.

The Federal High Court in Abuja on Wednesday, July 15, ordered the final forfeiture of 48 properties linked to the immediate past Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami, who is facing money laundering charges.

Abubakar Malami

The court, in a judgment delivered by Justice Joyce Abdulmalik, held that the properties, allegedly acquired with proceeds of crime, should be permanently seized by the federal government.

It held that Malami, who served as Justice Minister from November 11, 2015, to May 29, 2023, under former President Muhammadu Buhari’s administration, failed to rebut the reasonable suspicion that the properties were acquired through unlawful activities. The court dismissed contentions that some of the affected properties belonged to the larger Malami family in Kebbi State. According to the court, the legal issue was not “who owns the property, but how legitimate were the funds used to acquire them”.

Justice Abdulmalik held that Section 17 of the Advance Fee Fraud and Other Fraud Related Offences Act empowered the court to order the final forfeiture of illicitly acquired assets to the government. The judgment followed an application filed by the Economic and Financial Crimes Commission (EFCC).

Although the anti-graft agency sought the forfeiture of 57 choice properties it said were traced to the former minister, the court held that there was credible evidence establishing the genuine ownership of nine of the listed properties. The EFCC and Malami had adopted their final written addresses in the matter on May 26.

It will be recalled that the anti-graft agency had earlier secured an interim forfeiture order for the assets, valued at over N212 billion. According to the anti-graft agency, the properties, spread across three states (Kebbi, Kano, and Kaduna) as well as the Federal Capital Territory, Abuja—were believed to have been acquired with proceeds of crime. In an ex parte motion brought before the court, the agency said the interim order was needed as a precursor to the final forfeiture of the properties to the federal government.

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Malami is currently facing a 16-count money laundering charge. He was arraigned before the court alongside his son, Abdulaziz, and one of his wives, Hajia Bashir Asabe. The defendants were alleged to have laundered public funds totalling about N9 billion.

According to the EFCC, the former Justice Minister, in a bid to hide his proceeds of crime, resorted to acquiring choice properties in various cities and states. Having granted the interim forfeiture order, the court directed the agency to publish, within 14 days, a notice inviting anyone with an interest in any of the properties to appear before it and show cause why they should not be forfeited to the government.

Dissatisfied with the EFCC’s application, Malami’s legal team approached the court to have it set aside, insisting the properties were legitimately acquired. He told the court that the properties were appropriately listed in various asset declaration forms he filed with the Code of Conduct Bureau (CCB), insisting the EFCC had failed to adduce any prima facie evidence that they were acquired through proceeds of crime.

Accusing the EFCC of suppressing material facts, Malami maintained that the agency moved against him over properties that “were lawfully acquired post-appointment of the respondent/applicant and declared with the Code of Conduct Bureau as legitimate assets of the respondent/applicant, in compliance with the 5th Schedule to the Constitution of the Federal Republic of Nigeria, in 2019 and 2023”.

He argued that the interim forfeiture order was obtained through “manifest exaggeration, malicious inflation of the value of the assets, and unreasonable and incompetent valuation deliberately manipulated to mislead the court, negatively affecting its discretion in granting an order based on manipulated facts and conclusions deliberately cooked up by the applicant/respondent (EFCC)”.

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While adopting his final brief of argument, counsel to the EFCC prayed the court to grant the final forfeiture order, relying on a 47-paragraph affidavit and 46 exhibits filed in support of the motion. The EFCC counsel argued that Malami had failed to satisfactorily explain the legitimate sources of the assets and urged the court to order their permanent forfeiture.

In response, the counsel representing the former AGF urged the court to dismiss the application and set aside the interim forfeiture order earlier granted. The defense counsel relied on a counter-affidavit deposed to by Malami to argue that the EFCC’s case was founded on suspicion rather than credible evidence.

The court-ordered list of confiscated properties includes:

A luxury duplex at Amazon Street within Cadastral Zone A06, Maitama, purchased in December 2022 at N500,000,000.00 (value after enhancement, N5,950,000,000).

A two-wing, large storey building situated at No. 3, Onitsha Crescent, Area 11, Garki, Cadastral Zone A03, Abuja (formerly Harmonia Hotels Limited), FCT, purchased in December 2018 at N7,000,000,000.00.

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Plot 683, Jabi District, Cadastral Zone B04, comprising a five-storey building (now Luxurious Meethaq Hotels Ltd, Jabi, with 53 rooms/suites), purchased in September 2020 at carcass level at N850,000,000.00, with an additional N300,000,000 to take possession (value after completion, N8,400,000,000).

Property No. 3130, within Cadastral Zone A04, Asokoro District, FCT, Abuja, comprising terraces, purchased in January 2021 at N360,000,000.00.

Property No. 3, Rhine Street, Maitama, Abuja (Meethaq Hotels Ltd, Maitama, with 15 rooms), purchased in February 2018 at N430,000,000.00 (current value after rehabilitation, N12,950,000,000).

Plot No. 1241B, Asokoro District Zone (No. 11A Yakubu Gowon Crescent), Asokoro District, purchased in July 2021 at N325,000,000.00.

Shop No. C82, Citiscape — Shariff Plaza, Plot 739, Cadastral Zone A07, Aminu Kano Crescent, Wuse II, FCT, Abuja, purchased in March 2024 at N120,000,000.00.

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No. 4, Ahmadu Bello Way, Nasarawa GRA, Kano, purchased in December 2022 at N300,000,000.00.

Plot 157, Lamido Crescent, Nasarawa GRA, Kano, purchased in July 2019.

A plaza, commercial toilets, laundry facility, and warehouse tanks adjacent to Birnin Kebbi Market, purchased in 2021 at N100,000,000.00.

100 hectares of land along Birnin Kebbi–Jega Road, purchased in 2020 at N100,000,000.00.

A four-bedroom bungalow, Gesse Phase, Birnin Kebbi, purchased in 2023 at N101,000,000.00.

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Shops Nos. A36 and B3, Vegas Mall, Wuse 2, Abuja, purchased in July 2023 at N158,000,000.00.

No. 26, Babbi Drive, BUA Estate, Abuja, purchased in 2022 at N136,000,000.00.

No. 27, Efab Estates Avenue, 59th Crescent, Gwarimpa, Abuja, purchased in January 2016 at N120,000,000.00.

A four-bedroom house with two-room boys’ quarters at No. 10B, Doka Crescent, Abakpa GRA, Kaduna, purchased in January 2018 at N40,000,000.00.

Plot No. 13, Ipent 7 Estate, Karsana District, Abuja, purchased in June 2018 at N85,000,000.00.

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A four-bedroom duplex with boys’ quarters at No. 12, Yalinga Street, off Adetokunbo Ademola Crescent, Wuse II, Abuja, purchased in October 2018 at N150,000,000.00.

Two warehouse shops, B40 and B46, Wuse Market, Abuja, purchased in July 2020 at N50,000,000.00.

Twin houses at Zone E, Apo Legislative Quarters, Cadastral Zone B01, Plot 14014, Gudu District, Abuja, purchased between February and May 2017 at N250,000,000.00.

Properties acquired by the Khadimiyya for Justice & Development Initiative at Academic Garden City, Birnin Kebbi, sold by the Federal Housing Authority Mortgage.

Nine units of three-bedroom bungalows, three units of two-bedroom bungalows, and 5.4 hectares of land, purchased between February and September 2023 at N187 million.

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