The Chief Executive Officer (CEO) of JonahCapital Nigeria Ltd, Kojo Ansah Mensah, has alleged that the Corporate Affairs Commission (CAC) allocated their shares to other Nigerians after accusing them of forgery without proving same in court.

In a statement in Abuja, Mensah said despite approaching the court to stop the CAC from taking any steps against the company while the matter was sub judice, the commission still went ahead to allocate the shares to other former Nigerian shareholders, whose shares they acquired in good faith in 2007.

He said the CAC’s action was in defiance of the written directive of the Attorney‑General of the Federation through the Solicitor‑General of the Federation on 24 September 2025 to place a caveat on the records of the above companies while they concluded investigation into a police probe of forgery against the Ghanaian investors Sir Samuel Jonah, Kojo Ansah Mensah, Victor Quainoo and their Nigerian company secretary, Abu Arome.

“All these are happening despite unproved allegation of forgery, non‑refund of millions of dollars in lieu of shares for the acquisition of the shares, and the breach of the CAC Act which provides for 100 million shares for companies with foreign partners,” Mensah said.

Consequently, the Ghanaian investors have petitioned the National Assembly, where their motion was adopted on Thursday, 11 December 2025, by the plenary; the Attorney‑General of the Federation about this act of expropriation; the President of Ghana; and the supervising Minister of Trade, and intend to petition the ECOWAS Court.

“The action by the CAC is a disturbing trend which could set a bad precedence of hostile takeovers of foreign‑owned companies by governments and giving to its citizens,” he added.

Reacting, the spokesman of the commission, Inyang, said the claim is not factual. (Daily Sun)