Adeboye: PFN commends FG for suspending Corporate Governance Code

The Pentecostal Fellowship of Nigeria (PFN), on Thursday, commended  the Federal Government for suspending  the enforcement of the  Corporate Governance Code issued by the Financial Reporting Council (FRC) of Nigeria.
The PFN’s commendation is contained in a statement issued  in Benin by its National President , Rev. Felix Omobude.
Omobude lauded the suspension of the implementation of the law pending a detailed review, extensive consultation with stakeholders and reconstitution of the FRCN board.
Omobude said, “The Pentecostal Fellowship of Nigeria (PFN) has consistently expressed its concern at the non-inclusive process that brought about the code and the all-pervasive nature of it.
“This is more so, especially, as it relates to the activities of the non-profit sector whose activities are already regulated by the provisions of the law under which they were registered.
“The PFN has maintained that in view of the inability of the FRCN to achieve the necessary buy-in from concerned stakeholders on the code of governance and address legitimate concerns raised by many, it is wrong for it to have proceeded to enforce its implementation.
“The PFN notes the concern among many with respect to portions of the suspended code interpreted by some to have limited the tenure of pastors and other spiritual leaders.
“We are confident that all the contentious issues will be reviewed under the process ordered by the Federal Government.
“While the PFN respects the right of the appropriate government agency to make laws for the good of all; it states, emphatically, that it will not sleep on its rights especially as it affects the freedom of worship,” Omobude said.
The PFN president, however, appealed for calm, restraint and understanding on the part of all Christians and for continued prayers for the year 2017 to be one of greater peace and prosperity for all Nigerians.