Group petitions CAC, demands probe into shares theft  

A human rights group, Civil Rights Realization and Advancement Network (CRRAN) has asked the Corporate  Affairs Commission (CAC) to investigate and fish out officials involved in stealing shares owned by one Mrs Maria Omega -Edeh.

President of the group, Olu Omotayo, in a petition to the Registrar General of the Commission also demanded that the alterations made despite the caveat placed on the company’s file of Omega-Edeh be rescinded and corrected to the earlier details.

Omotayo stated that Omego-Edeh had over 7.1 billion shares as the majority shareholder in Mayfresh Mortgage Bank Limited. 

He stated that a caveat was placed on the file of the company with a letter to the Registrar General dated 24th July 2024, to forestall any illegal dealings with the file and records of the company at the Commission.

“It should be noted that on Thursday 19th September 2024, when our client generated a status report of the company her entire shareholding has been removed and zero shares written against her name,” Omotayo said.

“It is noteworthy to state that this complaint had earlier commanded your attention vide a petition dated 20th September 2024, from the chambers of Hammed Wasiu & Co., but up till date nothing has been done by the Commission to investigate and make the perpetrators of this heinous crime to face the full wrath of the law.”

Omotayo stated that considering the provisions of the  Companies and Allied Matters Act 2020, (as amended), the Transfer of shares involved the sale or gifting of shares from the current shareholder (transferor) to another individual or entity (transferee).

He added however that it remained a wonder who authorised the Commission to take or sell the shares to a third party.

“We submit that shares are personal properties of the owner and cannot be taken away fraudulently by anybody including the Commission without the consent of the owner,” he said.

“It is worrisome that despite the fact that caveat is placed on the file of the company, this act of brigandage could still be perpetrated by unscrupulous elements in connivance with officials of the commission.”