The Nigerian government has suspended a corporate governance code issued by the country’s Financial Reporting Council of Nigeria, FRC.
The Minister for Industry, Trade and Investment, Okechuckwu Enelamah, made the disclosure in a statement on Monday, after President Muhammadu Buhari’s sack of the Executive Secretary of FRC, Jim Obazee.
Mr. Obazee’s sack followed exit of Enoch Adeboye as the Nigerian overseer of Redeemed Christian Church of God in compliance with the suspended FRC governance code for not-for-profit organisations, including civil society and religious organisations.
Mr. Adeboye, arguably Nigeria’s most influential Christian cleric, had on Saturday complained about the government’s interest in Church activities.
The governance code sought to provide financial reporting, transparency and accountability standards for not-for-profit organizations.
Among others, it provided that founders or leaders of not-for-profit organizations would not head governance of their organisations for more than 20 years, and could not also pass baton to their family members.
While the code received positive reactions by people who consider it necessary to ensure accountability, it also suffered knocks by those expressing concerns it was targeting faith organisations, especially the Church.
In his statement, the minister said the code stood suspended pending its review and consultation with stakeholders.
Mr. Enelamah reassured of Nigeria’s commitment to enhancing market and ease of doing business in the country. Click to signup for FREE news updates, latest information and hottest gists everyday
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ReplyDeletepolitics should be comletely seperated from religion affairs please
ReplyDeleteAPC clowns led by a brainless dictator. Can a president in a democratic dispensation suspend a bill passd by the national assembly and signed into law. Shame of a nation!!
ReplyDeletePlease let them ask for information on the process of reviewing an unwanted law. Unitary govt things. Even previous military presidents new the drill.This one didn't bother to find his wave result I even develope himself in between election losses. Those who foistered a dinosaur on us will one day be called to question by history and karma. God is watching.
I concur to government's inquiry into financial reports of Churches.
ReplyDeleteThis is in the interest of the Nigerian masses who are mostly members of these religious organisation due to the exploitative tendencies & extravagant lifestyle of the leaders.
However, interference with their tenures, is totally unacceptable, as some of them may be truly called by God, which is tantamount to hindering the work of God.
But, as it is practiced in Orthodox Churches, the Pentecostal Churches should show strict adherence to the Bible by being open about their finances. They should be holy enough to render open account to their members.
I see all these melodrama as a ploy to divert attention from the core issue which bothers on Financial Accountability to entire congregations and membership. To whom much is given, much should also be expected. Orthodox Churches render financial account to their congregation and membership, the Pentecostal Churches should follow do the same.
May almighty God deliver Nigeria.
We need deliverance oooooo....