A majority shareholder of Mayfresh Mortgage Bank Limited, Mrs Maria Omego-Edeh, has petitioned the Registrar-General of the Corporate Affairs Commission, Hussaini Magaji, SAN, to investigate the theft of her 7.1 billion shares in the mortgage company.

In her petition, dated September 27, and made available to South East PUNCH, Omego-Edeh claimed that CAC staff conspired and colluded with some individuals in the company to steal her shares, despite a caveat placed on the company?s file on July 24, 2024, to prevent any illegal activities.

To make matters worse, a status report from August 12, 2024, confirmed the caveat, but just a month later, on September 19, 2024, Omego-Edeh?s entire shareholding had vanished, replaced by zero shares in her name, the petition, which was written through her counsel, Olu Omotayo stated.

Titled ?Re: Computer-Related Fraud and Stealing of Shares of my Client by Not Yet Known Persons in Connivance with Officials of the Commission,? the petitioner reminded the Registrar-General that the complainant had earlier commanded his attention vide an earlier petition dated 20th September 2024, from the chambers of Hammed Wasiu & Co., but regretted that up till date nothing had been done by the commission to investigate and make the perpetrators of this ?heinous crime? to face the full wrath of the law.

Citing the position of the law, the petitioner unequivocally stated that his client never sold or executed any deed of gift to anybody in violation of the Companies and Allied Matters Act 2020, (as amended).

The petition stated, ?Considering the provisions of our national law in this regard, i.e the Companies and Allied Matters Act 2020, (as amended), the transfer of shares refers to the process of transferring ownership of shares from one party to another. It involves the sale or gifting of shares from the current shareholder (transferor) to another individual or entity (transferee).

?Shares can only be transferred in two ways, which are: (1). By the owner selling his or her shares; and/or (2). By the owner gifting his or her shares to a third party.

?In the present case, our client never sells or executes any deed of gift to anybody. The question is who then authorize 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.

?It is worrisome that even though a caveat was 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.?

Warning of the implication the act portends to the nation?s economy, that any misfit can alter a company record with the commission at will, the petitioner demanded the immediate arrest and prosecution of all the persons involved in this act of cyber-robbery and terrorism.

The petition added, ?This is an offence under Section 14(1) of the Cybercrime (Prohibition, Prevention) Act 2015 (as amended), which deals with computer-related fraud as it provides that ?any person who knowingly and without authority or over authority causes any loss of property to another by altering, erasing, inputting or suppressing any data held in any computer, whether or not to confer any economic benefits on himself or another person, commits an offence and is liable on conviction to imprisonment for a term of not less than three years or to a fine of not less than N7,000,000 or both fine and imprisonment.

?We further demand that the alterations made despite the caveat placed on the company?s file be rescinded and corrected to the earlier details immediately.

?This scandal raises concerns about the integrity of Nigeria?s financial institutions and regulatory bodies. The country?s banking sector has faced significant challenges, including declining real GDP growth rates, rising inflation, and fluctuating exchange rates. Such fraudulent activities can further undermine investor confidence and hinder economic growth.?

When South-East PUNCH correspondent reached out to the CAC Director of Press, Mr Dominic Inyang, on telephone, he said he had no idea of the incident and requested that this reporter should come to CAC on Monday.

He said, ?I can?t talk with you on the phone because I don?t have an idea of what you are talking about. You can come to CAC on Monday.? (Text, excluding headline: The PUNCH)

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