A Ghanaian business firm has filed multiple petitions against the Registrar-General of the Corporate Affairs Commission (CAC) for allegedly seizing their shares and cancelling decades of corporate records in what they describe as an unlawful attempt to strip them of control of two companies.

The management of Jonah Capital Nigeria Ltd and Houses For Africa Nigeria Ltd has petitioned both the Independent Corrupt Practices Commission (ICPC) and Nigeria’s House of Representatives, accusing CAC boss Hussaini Ishaq Magaji (SAN) of “expropriation,” “abuse of office,” and extrajudicial removal of directors.

In the petitions, dated December 8 and December 16, 2025, the Ghanaian investors say the CAC unilaterally invalidated all corporate filings for the two companies on December 8, reverting their status to their 2006/2007 incorporation dates. They contend the regulator’s action was taken despite an active lawsuit and a court injunction ordering the CAC to maintain the status quo.

“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,” one petition stated.

The company’s MD/CEO, Kojo Ansah Mensah, who signed the petitions, argues that the CAC has effectively handed “administrative victory” to the opposing party in a protracted legal battle over the ownership and development of the lucrative River Park Estate in Abuja.

The investors accuse the other party of attempting to use the altered corporate records to instruct banks to close accounts and seek political recognition from the Federal Capital Territory Minister.

They warn that the cancellations have placed the companies in automatic default of a 2023 CAC directive requiring firms with foreign participation to raise their share capital to ₦100 million.

With the records reset to 1 million shares, the group says they now face penalties, destabilised banking relationships, and potential wrongful termination of staff by persons newly installed in company filings.

The petitions argue that the Registrar-General has unlawfully exercised judicial powers that, under Nigeria’s constitution, rest solely with the courts.

They further cite legal responses from their counsel, S. I. Ameh (SAN) & Co., claiming that earlier allegations of forged documents by former directors have already been discredited by a police special investigation panel.

This latest escalation follows an earlier petition to Nigeria’s Minister of Industry, Trade and Investment, in a multipronged effort to challenge what the investors describe as regulatory overreach by the CAC.

“We trust the Commission to take a decisive stand against corruption and abuse of office by public officers,” the investors wrote, while urging the House Committee on Public Petitions to intervene and compel the CAC to reverse its administrative actions.