Adeboye: Reps faults corporate governance code

House of Representatives

House of Representatives has faulted the Financial Reporting Council of Nigeria (FRCN) for interfering in the running of religious organisations in the country.

Pastor Enoch Adeboye resigned his leadership of Nigeria’s chapter of the Redeemed Christian Church of God, following the introduction of the corporate governance code 2016 by the council.

The code stipulates that leaders of religious organisations or non-profit organisations must quit after attaining the age of 70 or 20 years in office.

The house in a resolution condemned the act, saying the national assembly has not passed any law empowering the council to determine the tenure of the leadership of religious organisations or non-profit bodies.

The minority leader, Leo Ogor, who moved a motion for a debate on the code, expressed concern over the source of powers of the council to introduce such a code, accusing it of usurping the legislative powers of the national assembly.

The house says that a public hearing will be held on the act.

 

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