In a footage, Magaji is seen boarding and travelling on a private jet. The text overlaid on the video reads: “Thank you Emeka Ufor Foundation.”
The Registrar-General of the Corporate Affairs Commission (CAC), Ishaq Hussaini Magaji, SAN, has again come under public scrutiny following a series of social media posts, suggesting an opulent lifestyle.
The posts showed Magaji travelling on a private jet and publicly acknowledging hospitality from a private foundation, as insiders at the commission raise concerns over the Registrar-General's work ethics and accountability.
The sources lamented that since the social media posts including videos were made by Magaji, "the commission has failed to address the controversies but has deliberately gone mute."
In a footage, Magaji is seen boarding and travelling on a private jet. The text overlaid on the video reads: “Thank you Emeka Ufor Foundation.”
SaharaReporters had reported in December 2025 that fresh allegations emerged that Magaji quietly lifted a court-ordered restriction placed on corporate filings linked to OML 40. The OML 40 is an oil-producing asset connected to billionaire businessman, Emeka Offor.
Magaji, sources said, lifted the court restriction without public explanation, shortly after assuming office.
In the video obtained by SaharaReporters, Magaji had been seen in the private jet, moving in a security convoy, and receiving a traditional chieftaincy title in a ceremony reportedly sponsored by a private energy foundation linked to high-value oil and gas interests connected to OML 40.
Rather than issuing a formal clarification to the backlash, the CAC Registrar-General subsequently made a public post announcing his presence at the 2025 United Nations Convention Against Corruption (UNCAC) Conference of the States Parties in Doha, Qatar, alongside the heads of Nigeria’s Economic and Financial Crimes Commission (EFCC) and 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 on social media.
The post, made days after the allegations surfaced, has intensified debate online, with critics interpreting it as a display of political proximity rather than a response to the issues raised.
The Corporate Affairs Commission oversees company registration, trusteeship and foundation records, beneficial ownership disclosures, and corporate filings across sectors including oil and gas, banking, procurement, and other strategically sensitive industries.
Governance experts note that officials in such positions are expected to avoid not only conflicts of interest, but also appearances of undue influence or benefit.
As of the time of filing this report:
"The CAC has issued no public clarification on the videos; there has been no disclosure of who funded the private jet travel; neither the Minister of Industry, Trade and Investment, which supervises the CAC, nor the Presidency has made a public statement addressing the matter," a top source noted.
SaharaReporters had on January 3 reported that the Attorney-General of the Federation (AGF) and Minister of Justice, Lateef Fagbemi, SAN, directed the CAC Registrar-General to cancel the “fraudulent filings” carried out on some Abuja firms.
The decision was conveyed in a correspondence signed by the Director of Public Prosecutions of the Federation (DPPF), M.B. Abubakar, on behalf of the AGF and obtained by SaharaReporters.
SaharaReporters had also reported that the ICPC was petitioned to investigate the CAC boss over allegations of unlawful alteration of corporate records, expropriation of shares and removal of directors linked to the companies in Abuja.