CAC Wades into Balogun Business Association Crisis

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Corporate Affairs Commission

The Corporate Affairs Commissions (CAC) has waded into the crisis that has split the Balogun Business Association (BBA) into two factions, declaring the Okey Ezibe group as the authentic group against the faction made up of Mr. Tony Obih, John Ezeako and Jones Okpala.

In a letter on true position from the CAC signed by the Registrar General and contained in their bulletin, the Commission declared re-constitution of the Board of Trustees of Balagun Business Association as illegal, having been obtained through the instrumentality of false documents.

Part of their letter reads: “The Certificate of Registration issued on 3rd July, 2018 is hereby revoked and cancelled in line with the provision of section 41(7) of the Companies and Allied Matters Act, 2020. This is based on the unassailable fact that while Chief Emmanuel Ohanugo and Alhaji Magaji Mohammed died years before the purported meeting re-appointing them as trustees was held, Mrs. Caroline Nwazojie had left Nigeria at least three years before the meeting was held.”

CAC also dissolved the EXCO of the organisation on the ground that having been elected on the 20th of November, 2017, that their tenure had expired on the 19th of November, 2020 based on Article 8, section 4(e) of the Constitution of the organisation.

The Commission noted that going by the Constitution, that the Ex-officio members of the EXCO should take charge, it therefore directed them, led by Chief Okechukwu Ezibe to appoint a Caretaker Committee that would take care of the association and conduct election within two months. Other Ex-offico members are: Chief Nicholas Okeke, Mr. Ikechukwu Obiora and Mr. Okwudibia Anyaorah.

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The Commission requests the Ex-officio members to forward to her the list of caretaker member appointed.

Commenting on the development, Chief Okey Ezibe commended what he called the thoughtful position of CAC, which he notes, “has succeeded in bringing lasting peace to the Association.”

Chief Ezibe said that as directed, that a Caretaker Committee made up of Chief Obi-Odunukwe (Chairman), Alhaji Kassim, Mr. Nwakor Obinka, Mrs. Amaka Amadike and Mr. Sylvester Okoye has since been appointed after their meeting of 29th April, 2021.

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