The General Overseer
of the Redeemed Christian Church of God, Enoch Adeboye, stepped down as head of
the church in Nigeria in line with a proposed Corporate
Governance Code.
Baba Adeboye
referred to the governance code as he announced his decision to give up the
position on Saturday, church leaders who attended the session, said.
The code, proposed
in May 2015, limits the number of years heads of corporate organisations can
stay in office. It is mandatory for the private sector.
The Code of
Governance for Not-for-Profit entities is “Comply or Justify non-compliance.”
It is under the
Not-for-Profit category that churches like the RCCG come under.
The code was later
suspended, reportedly after the Attorney General, Abubakar Malami, opposed its
implementation.
According to PT, it
was unclear whether Baba Adeboye knew the proposal had been suspended.
While announcing the
governance code in October 2016, the Financial Reporting Council, FRC, had said
it would take effect from October 17, 2016.
FRC said, “In
accordance with Section 50 of the Financial Reporting Council of Nigeria Act,
2011, which among other things requires the Directorate of Corporate Governance
to develop the principles and practices of Corporate Governance applicable in
Nigeria, the Council hereby releases the National Code of Corporate Governance
effective 17th October 2016.”
It further said, the
“Code of Governance for the Public Sector will not be applicable immediately
until an executive directive is secured from the Federal Government of Nigeria.
This is due to the fact that the enabling laws that set up most government
establishments already carry some form of governance structure that will
require an umbrella legislation to unify the different provisions of those laws
to synchronise with this Code.”
AGF Malami later
wrote a strong opinion against the said code.
Baba Adeboye had on
Saturday surprised the top echelon of the RCCG by stepping down from direct
leadership of the church in Nigeria. He announced Pastor Joshua O. Obayemi as
National Overseer of the church in Nigeria.
Pastor Obayemi, who
was Special Assistant to General Overseer on Finance, was appointed at the
annual Ministers Thanksgiving at Shimawa, Ogun State.
Baba Adeboye will
however remain the General Overseer of the RCCG Worldwide.
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