The House of Representatives has declared that the new regulation of the Financial Reporting Council (FRC) of Nigeria, is illegal.
The new FRC regulation had led Pastor Adeboye to resign as the National Overseer of the Redeemed Christian Church of God (RCCG).
According to the lawmakers, no agency of the Federal Government was empowered by any law passed by the National Assembly to decide the number of years a religious leader would have to stay in office.
The House has also asked that a detailed public hearing should be made on the activities of FRC, especially as regards to the Council’s decision to fix the tenure of the leadership of religious bodies.
The House, presided over by Speaker Yakubu Dogara made this resolution on Wednesday following its debate and endorsement of a motion moved by the Minority Leader of the House, Mr. Leo Ogor, who questioned where FRC got its powers from.
The lawmakers pointed out that the FRC Act 2011 never gave provision for the body to decide the tenure of office of religious organisations or non-profit organisations.
Adeboye had resigned following new legal requirements set up by the FRC, which stipulates that heads of non-profit organisations like churches now have a maximum period of twenty years to lead their organisations and while in retirement, they are not permitted to hand over to their families.
The development led to President Muhammadu Buhari sacking of the Executive Secretary of the FRC, Mr. Jim Obazee.
However, Ogor at the House sitting on Wednesday expressed worries at the FRC action. He stated in his motion, “The House is concerned that the Governance Code, formulated by the Council, as it relates to heads of non-profit making organisations, is a clear usurpation of the powers of the National Assembly as stipulated in Section 4 of the Constitution of the Federal Republic of Nigeria, 1999.
“Also concerned that the National Assembly has not, in any way, approved the corporate governance code as it did with the Building Code, the House is convinced that codes of corporate governance must be in conformity with international best practices.”
The House Committee Chairman on Ethics/Privileges, Mr. Nicholas Ossai, held the same position as Ogor.
At the end, the House resolved that FRC has no legal right to fix the tenure of religious body leaders and demanded that public hearing be made on the activities of the body.
RipplesNigeria ….without borders, without fears
The post Reps declare as illegal FRC regulation that prompted Adeboye’s resignation appeared first on Ripples.