* I remain the worldwide general overseer of RCCG Says Pastor Adeboye

The effects of the new codes of corporate governance issued by the Financial Reporting Council (FRC) are beginning to manifest as Pastor Enoch Adeboye has allegedly stepped down as the General Overseer of the Redeemed Christian Church of God (RCCG).

Enoch Adejare Adeboye, a pastor and general overseer of the Redeemed Christian Church of God (RCCG), only relinquished his position as head of the Nigeria church but will remain RCCG’s worldwide overseer, the church has clarified.

According to a statement signed by Leke Adeboye, the clergyman’s last son and personal assistant, the announcement of a new Nigeria overseer was made in compliance with the new legal requirements set up by the Financial Regulations Council for all registered churches, mosques, and CSOs, which stipulate that heads of non-profit organisations like churches now have a maximum period of 20 years to lead their organisations while in retirement.

Such heads are also not permitted to hand over to their families.

Leke Adeboye reiterated that Funsho Odesola, a pastor, will now serve as the new church secretary, Joseph Adeyokunu, another pastor, is the new church treasurer.‎

He advised all members of RCCG to “understand this new structure and go about their service to God and humanity in holiness and soul winning”.

“We appeal to members to educate people around them and not spread inaccurate information, as Pastor E.A Adeboye remains the General Overseer of RCCG Worldwide.”

FRC issued two of the codes on Monday 17 October after conclusion of works on it by the Steering Committee on Corporate Governance Codes that drafted it. The committee comprises of representatives of regulatory bodies in the country and others drafted to it.

The two codes, the private sector codes and the Not for Profit organisations were released after long a delay by litigations that stall its issuance and implementation.
The third, the public sector codes await the approval of the Federal Executive Council (FEC) for it to come into effect.

The private sector codes have generated mixed reactions from business circles especially those among those in the senior cadres of organisation.
They have been troubled by the provisions of sections 5, 6, 8, 14 and 19 of the new codes, which they argued will make some of them jobless.

Section 5 deals with board structure and composition while section 6 talks about the officers on the board.
Section 8 is about board committees, Section 14 dwells on tenure and re-election of directors of companies and section 19 talks about joint external auditors.

For the codes Non-Profit organisation, religious bodies and others in that category are now to prepare accounts for their businesses and submit to government agencies.

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