Thursday, Jan 21st 2021 5:00 AM

Market Digest Nigeria


CAN describes CAMA As ‘Ungodly’, Rejects Law

The Christian Association of Nigeria has described the Companies and Allied Matters Act 2020 signed into law by President Muhammadu Buhari on August 7 as ‘ungodly’, saying it will not be accepted by it.

In a statement on Thursday by Adebayo Oladeji, Special Assistant on Media and Communications to CAN President, Rev Samson Ayokunle, the Christian body said that the Nigerian Government had declared war on the church by trying to implement the new law.

CAN President The statement reads in part, “The leadership of the Christian Association of Nigeria rejects outrightly the Companies and Allied Matters Act, 2020 that was assented to by President Muhammadu Buhari recently,  noting that the law is unacceptable,  ungodly,  reprehensible and an ill-wind that blows no one any good.”

According to section 839 (1) and (2) of the law, the supervising minister is empowered to suspend trustees of an association (in this case, the church) and appoint the interim managers to manage the affairs of the association for some given reasons.Presiding Bishop of the Living Faith Church Worldwide, Dr David Oyedepo, had earlier condemned the law, saying it was against the work and progress of the church.

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