Sources tell SaharaReporters that Ishaq Hussaini Magaji (SAN), Registrar-General of the Corporate Affairs Commission (CAC), acquired two luxury duplexes in Abuja’s Jahi district, each valued at N350 million, within two years of taking office. The houses reportedly feature furnishings and equipment worth more than the properties themselves, including solar systems from Germany and gym equipment from China. Magaji’s salary, according to pay slips, is N583,333 per month.
Before his appointment in October 2023, Magaji lived in a rented three-bedroom apartment and struggled to pay N2 million in rent. An insider revealed that he delayed submitting his asset declaration to the Code of Conduct Bureau until after acquiring the properties, allowing him to register the homes as already-owned assets. The source added that Magaji also bought a home for his mother and luxury vehicles, including a Lexus LX 600.
CAC officials said the opulent acquisitions raise serious concerns over public accountability. “Before buying these houses, he delayed filling the Code of Conduct Bureau form, a strategic move that allowed him to acquire the properties through easier means,” one source said. The report highlights a sharp contrast between Magaji’s official earnings and his accumulation of wealth, prompting calls for investigation.