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CAMA: Religious Leaders Are Worried About Abuse Of Processes – Osinbajo
Vice President, Professor Yemi Osinbajo, has said that the major concern of religious leaders with the recently enacted Companies and Allied Matters Act (CAMA) 2020 is the fear that the processes are not abused in a way that compromises the entire structure and operation of the organisation
Professor Osinbajo who spoke during the Nigerian Bar Association (NBA) Annual General Conference on Thursday stated that these leaders want to be accountable, contrary to views based on reactions to a section of the act.
He maintained that the CAMA 2020 is massive legislation that covers a wide range of issues on companies and if a section is contentious, what the aggrieved parties can do is to approach the National Assembly and propose an amendment.
“As a general position, I do not think it will be right to say that pastors don’t want to be accountable. I believe that several Christian organizations and pastors are willing to be accountable. The problem that they may have is ensuring that processes are not abused in such a way as to compromise the entire organization. And I think that if all that is required is some process of accountability, I think it will be easier for organizations to accept that.
“The concern of the Churches is that it could lead to a situation where practically anybody could be appointed as a trustee to oversee the Church and a Church or a Mosque is a spiritual organization and if you do not share the same faith with the Church or Mosque, you may be the wrong person and if a wrong is appointed, you may create more trouble for the organization.
“What can be done is that, whatever the proposal for amendment may be, whatever the views of the leadership of the church may be, regarding the question of how the trustees, whether they are interim trustees or not, can be put in the form of a proposal that will be taken to the National Assembly for consideration for an amendment to the law, that is the process which is entirely opened and ought to be pursued,” the Vice President added.
CAMA Fears
President Muhammadu Buhari signed the CAMA bill into law in August, repealing and replacing the extant 1990 act, with the aim that the new legislation will be the most significant in three decades, promoting the ease of doing business, while reducing regulatory hurdles in the country.
However, a portion of the legislative piece tagged Incorporated Trustees, states that religious bodies and charity organisations will now be strictly regulated by the Registrar-General of the Corporate Affairs Commission and the supervising minister.
Additional clauses in the act show that the commission can suspend the trustees of an association and appoint an interim manager to run the affairs of the organisation
But Vice President Osinbajo clarified that the section will affect these organisations; “Churches, Mosques, and church organizations are regarded as charities. It is the Incorporated Trustees Section of the Companies and Allied Matters Act that has become controversial. And because churches are charities, the provisions in the incorporated trustees’ section obviously affect the churches.
“What the Churches are concerned about is a provision that says that in the event that some wrong-doing is found to be perpetrated by the trustees of the particular organization or Church, the Registrar-General of the Corporate Affairs Commission (CAC) can go to court and get an order to appoint interim administrators or interim trustees for the Church or whichever charity organization and manage the organization.”
C.A.N Talks Tough
Meanwhile, the leadership of the Christian Association of Nigeria (CAN) kicked against the act and called on President Buhari to suspend the law in the interest of the country.
“While we are not against the government fighting corruption wherever it may be found, yet we completely reject the idea of bringing the Church, which is technically grouped among the NGOs, under control of the government. The Church cannot be controlled by the government because of its spiritual responsibilities and obligations. This is why we are calling on the Federal government to stop the implementation of the obnoxious and ungodly law until the religious institutions are exempted from it.
“How can the government sack the trustee of a church which it contributed no dime to establish? How can a secular and political minister be the final authority on the affairs and management of another institution which is not political? For example, how can a non-Christian head of Government Ministry be the one to determine the running of the church? It is an invitation to the trouble that the government does not have the power to manage. Let the government face the business of providing infrastructure for the people.”
In an exclusive interview with DAILY POST, Prince Adewole Adebayo, the 2023 presidential candidate of the Social Democratic Party (SDP), shares his perspective on Nigeria’s political and economic situation. Reflecting on 2024, Adebayo acknowledged both achievements and challenges, citing issues like rising inflation, fluctuating exchange rates, and security concerns, including the tragic killings of the Emir of Gobir and incidents in Ibadan, Okija, and Abuja. However, he also pointed out that there were no significant community or religious conflicts.
Regarding President Bola Tinubu’s media chat, Adebayo expressed disagreement with the president’s view that the government was doing well. He argued that Tinubu’s administration lacked the necessary governance to truly improve the country, stating that Tinubu was merely in power, not governing. He highlighted the absence of substantial reforms, pointing to FCT and Ministry of Interior ministers as exceptions.
Adebayo also criticized Tinubu’s economic policies, particularly the removal of the petrol subsidy and the floating of the Naira. While acknowledging that Nigeria’s economic problems existed before Tinubu’s tenure, he claimed the president had worsened the situation due to a lack of economic understanding.
On judicial reforms, Adebayo expressed that increasing salaries alone would not resolve corruption in the judiciary. He emphasized that the root cause lay in the broader economic system, suggesting reforms to the legal structure, particularly separating election petitions from regular judicial duties.
Lastly, Adebayo reinforced that Nigerians should not place their hope solely in one government, as the nation has many alternatives for its future beyond Tinubu’s administration.
Wema Bank, Nigeria’s innovative leader in banking and pioneer of Africa’s first fully digital bank, ALAT, has officially announced the 35 exceptional teams advancing to the grand finale pitch of Hackaholics 5.0. The grand finale pitch is set to hold on November 25, 2024, in Lagos, themed “Meta Idea: Catalyzing Africa’s Growth Through Innovation.”
After a series of competitive pre-pitch events at eight physical locations and one virtual pitch center, 35 outstanding teams have emerged as top contestants. These teams represent diverse and impactful ideas, ranging from tech solutions in agriculture, finance, and education to innovations in healthcare, sustainability, and artificial intelligence.
The top contestants include: Northino, Our Haven, Celia, Nadir, Nimsy Agro, Hebron Chain, Paystrait, DevMe, Preview, Coconoto, EduGaze, Dokia, Gbale Prime, Health 4 Moni, Digiland, Abinci, Unifi, CyclexAfrica, Airify, Kwab, Gnergy, University X, AI Teacha, Code Red, APISentry, Fegor, TrashCoin, Paywise, Pandascrow, Lexia AI, Bunce, Bloom Beauty, MyItura, Accede, Scratop Nigeria Limited.
The grand finale pitch will see these top contestants pitch innovative Digi-Tech solutions to a panel of esteemed investors, industry leaders, and mentors competing for ₦75 million worth of prizes. The prize structure includes a whopping ₦30 million worth of prizes for the grand prize winner, ₦20 million worth of prizes for the first runner up, ₦15 million worth of prizes for the 2nd runner up, and ₦10 million worth of prizes for the top women-led team.
Moruf Oseni, MD/CEO of Wema Bank, expressed his excitement about the competition’s impact:
“Hackaholics is a testament to Wema Bank’s commitment to fostering innovation and youth empowerment.”
These 35 top contestants represent the future of Africa’s tech-driven transformation, and we are proud to provide them with a platform to bring their ideas to life. The Meta Idea theme challenges them to think beyond immediate solutions and focus on innovations that capitalize on Africa’s growth potential. We look forward to celebrating their ingenuity at the grand finale.”
This year’s Hackaholics competition received thousands of applications from across Nigeria, highlighting the creativity and determination of young tech enthusiasts. The competition has inspired groundbreaking solutions aimed at addressing Africa’s challenges and driving digital transformation. It underscores the role of technology and entrepreneurship in Africa’s socio-economic progress and remains a key platform for discovering and nurturing young talents, offering winners mentorship, networks, and resources to scale globally.
To attend the Hackaholics 5.0 grand finale and witness the next generation of innovators in action, register at https://hackaholics.wemabank.com/grandfinale.
Featured
Jigawa State’s Transformation: Governor Namadi’s Drive for Foreign Investment in Agriculture and Education
In recent times, the focus on governance versus politics has become increasingly important, particularly in Jigawa State under the leadership of Governor Mallam Umar Namadi. His efforts to attract foreign direct investment (FDI), especially in agriculture and education, are noteworthy as these sectors are vital for alleviating poverty and driving prosperity.
Jigawa has emerged as a prime destination for FDI in Nigeria, with Governor Namadi prioritizing this strategy as a cornerstone of his administration’s development plan. Recently, he led a delegation to the Africa Food Systems Summit 2024, an event that highlighted agricultural innovation and food security across the continent. The summit’s theme, “Innovate, Accelerate, and Scale: Delivering Food Systems Transformation in a Digital and Climate Era,” allowed Governor Namadi to showcase the state’s agricultural potential and investment opportunities.
Governor Namadi’s administration has initiated several ambitious agricultural projects, including the Rice Millionaire Project, the Wheat Project, and the Special Agro-Processing Zones (SAPZs). These initiatives are designed to boost productivity and position Jigawa as a significant player in Nigeria’s agricultural landscape, particularly in an era where sustainable practices are essential for resilience and long-term success.
One of Jigawa’s key advantages is its reputation for peace and stability, especially when compared to neighboring states facing challenges such as banditry and insurgency. This environment fosters growth and attracts both local and international investors.
Furthermore, Governor Namadi’s commitment to agricultural transformation extends beyond Nigeria. He recently led a delegation on a study tour to Ethiopia, a nation recognized for its achievements in wheat production. The visit aimed to learn from Ethiopia’s successful practices while showcasing Jigawa as a vital contributor to Nigeria’s agricultural sector.
In addition to agriculture, Governor Namadi’s focus on global partnerships was evident during his recent trip to Saudi Arabia, which is expected to bring over $50 million in investments to Jigawa. This visit is part of his broader 12-point agenda aimed at fostering international cooperation and sustainable development.
In conclusion, Governor Namadi’s proactive approach is reshaping Jigawa State into a hub for foreign direct investment. With strategic initiatives in agriculture, a commitment to stability, and global partnerships, Jigawa is setting a new benchmark for economic development in Nigeria. Continued investment in youth in agriculture is essential, and the recent disbursement of $250,000 under the World Bank’s Agro-Climatic Resilience in Semi-Arid Landscapes (ACReSAL) program is a promising start. Engaging experienced professionals will further bolster the government’s developmental goals.
Khalipha writes from Jigawa State.
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