President Muhammadu Buhari on Tuesday approved the appointment of Alhaji Garba-Abubakar as the substantive Registrar-General of the Corporate Affairs Commission, CAC.
DAILY NIGERIAN reports that until his appointment, Mr Abubakar is the Director, Compliance at the commission.
Mr Abubakar, who hails from Bauchi State, was born on October 7, 1966. He got educated at Government Secondary School, Gumau in Bauchi State.
In 1985, Mr Abubakar gained admission into the prestigious Ahmadu Bello University, Zaria. He was called to the Nigerian bar in 1989 after graduating from the ABU with LLB Hons in 1988.
He joined the CAC in 2004 as a Principal Manager and rose to become a director in 2017.
At a time, between 2010 and 2017 to be precise, Mr Abubakar served as a Special Adviser to the erstwhile Registrar-General, Bello Mahmud.
Before joining the service of the CAC, Mr Abubakar worked with the NICON Insurance Corporation in 1998 where he started as Manager, Legal, rising to become a Senior Manager before resigning in 2004.
Also worth mentioning is the fact that Mr Abubakar had worked with the national Social Insurance Trust Fund, NSITF, from 1993 to 1995 within which he grew from Compliance Officer I to an Assistant manager, before resigning in 1995.
DAILY NIGERIAN reports that a seasoned legal administrator, monitoring and compliance expert with decades of experience in the country’s financial system, Mr Abubakar will bring to bear his baggage of experience into his new assignment.
This is evidenced in the various financial reformed he brought about by virtue of having served in various reform committees.
Worthy of note is that from 2007 to date, Mr Abubakar is serving as a member, Inter-Agency Committee Against Money Laundering and Terrorists Financing in Nigeria with Secretariat at the Nigerian Financial Intelligence Unit, NFIU.
From 2007 to 2014, Mr Abubakar served as a member of the Inter-Agency Committee on Illegal Fund Managers/Wonder Banks.
The Committee was constituted to address the menace of Wonder Banks with the secretariat hosted at the CBN.
The Committee was subsumed into the Legal and Enforcement sub-Committee of the FSRCC in 2015.
Mr Abubakar has also served as a member in the Committee of Micro Finance Banks in Nigeria from 2008 to 2010.
Similarly, the new registrar-general had served as a member of the Inter-Ministerial Committee on Ease of Doing Business in Nigeria from 2013 to 2015.
Mr Abubakar was also a member, Steering Committee on National Code of Corporate Governance from 2013 to 2015. The committee was constituted by the Financial Reporting Council and had drafted codes of corporate governance for the private, public and not-for-profit sectors.
He was a member, Steering Committee on the Establishment of National Collateral Registry from 2013 to 2015.
The Committee was constituted by the CBN pursuant to the report of the World Bank on MSME Development in Nigeria. He also served as the chair of the Legal Sub-Committee that drafted the Collateral Registry Regulation and Collateral Registry Bill.
Other committees Mr Abubakar served include: Legal Framework Sub-Committee Of Financial System Strategy, FSS 2020, from 2007 to 2013; Inter-Ministerial Committee on Site Verification Exercise on Large Scale Integrated Rice Processing Plants under FGN N10Billion Rice Intervention Fund in 2019; Member, Legal and Enforcement Sub-Committee of the Financial Services Regulation Coordination Committee, FSRCC from 2010 to till date, among many others.
He served in the Governing Board of Oil and Gas Free Zones Authority, OGFZA, Onne Port-Harcourt from 2009 to 2011 as well as on the Governing Board, Economic and Financial Crimes Commission, EFCC, from 2013 to 2015.
This is not withstanding his membership at the CAC’s In-House Committee on the Review of the Companies and Allied Matters Act which was started in 2007 to date.
As a widely travelled gentleman, Mr Abubakar has attended both national and international conferences, workshops and has been to 24 countries of the world and still counting.