Jonah Capital Protests Alleged Takeover of Abuja Assets

Ghanaian firms Jonah Capital Nigeria Ltd and Houses For Africa Nigeria Ltd have filed petitions with Nigeria’s Independent Corrupt Practices Commission (ICPC) and House of Representatives, alleging unlawful seizure of shares and cancellation of corporate records.

The companies accuse Hussaini Ishaq Magaji (SAN), the Registrar-General of the Corporate Affairs Commission (CAC), of “expropriation,” “abuse of office,” and extrajudicial removal of directors. According to the petitions submitted on December 8 and 16, 2025, the CAC unilaterally invalidated decades of corporate filings on December 8th, reverting their status to incorporation dates in 2006/2007.

“To our utter shock, on Monday, 8th December 2025, upon checking the company status report, we discovered that the entire corporate records of our companies had been cancelled by Mr. Magaji SAN,” the petition stated.

Kojo Ansah Mensah, MD/CEO of the companies, argues the CAC’s actions award an “administrative victory” to a rival in a legal dispute concerning the River Park Estate in Abuja. The investors fear the altered records will be used to shut down their bank accounts and seek undue influence from the Federal Capital Territory Minister.

The cancellation also places the companies in default of a 2023 CAC directive requiring firms with foreign participation to raise their share capital to ₦100 million. With records showing only 1 million shares, they now face penalties and potentially destabilized banking relationships.

According to the petitions, the Registrar-General overstepped his authority by exercising judicial powers reserved for the courts. Their counsel, S. I. Ameh (SAN) & Co., maintains that previous allegations of forged documents have been dismissed by a police investigation.

This action follows a previous petition to Nigeria’s Minister of Industry, Trade and Investment. The investors urge the House Committee on Public Petitions to intervene and compel the CAC to reverse its actions, stating, “We trust the Commission to take a decisive stand against corruption and abuse of office by public officers.”

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