A University of Ibadan student took to Instagram to narrate how he was arrested by some police officers around Ikolaba/Bodija area of Oyo State, for not registering his business with the Corporate Affairs Commission (CAC). 
The graphics designer who was on his way to school at the time of the incident, said the "extortion" move was initiated after the policemen found nothing incriminating on him. He further alleged that he was asked to pay N10k or risk getting arrested for not registering his company with the CAC. 
He wrote; 
I was arrested today by Nigerian Police on my way to school along Ikolaba / Bodija, I was on a bike when they stopped us they ask me what I do for a living, I told them am a graphic designer and also a student of University of Ibadan, I tendered my ID Card, He searched my bag and phone I have no illegal item I have a legit business, the police said have I registered my company? I said no he said am under arrest for designing without , and am paying 10k for designing without registration CAC no. He said am a big boy with my look so 10k last, he gave account number. Am not a yahoo boy, am a student surviving on my own.