As part of the Corporate Affairs Commission’s ongoing drive to strengthen corporate compliance and deepen collaboration with key stakeholders, the Registrar-General/CEO, Hussaini Ishaq Magaji, SAN, paid a compliance visit to the headquarters of First Bank of Nigeria Limited at Marina, Lagos.
The Registrar-General was received by the Group Managing Director of FirstHoldCo, Mr. Wale Oyedeji, the Company Secretary of FirstHoldCo, and other senior representatives of the Group.
During the engagement, the Registrar-General emphasized the need for financial institutions to support regulatory compliance by blocking transactions on corporate accounts belonging to companies with inactive CAC status until their records are regularized in accordance with the Companies and Allied Matters Act (CAMA), 2020.
He also reiterated the Commission’s directive on the full regularization of FirstMonie terminal (PoS) operators, stressing that all operators conducting business through FirstMonie must be duly registered with the Corporate Affairs Commission as required by law.
The meeting reaffirmed the shared commitment of CAC and FirstHoldCo to promoting transparency, strengthening the integrity of Nigeria’s corporate registry, and advancing a compliant and trusted business environment.
