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CAMA 2020 Will Regulate, Not Control Churches, Others—Oyedele

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Taiwo Oyedele

By Dipo Olowookere

The Head of Tax and Corporate Advisory Services at PwC Nigeria, Mr Taiwo Oyedele, has said the aim of the controversial Companies and Allied Matters Act, 2020 (CAMA 2020) especially concerning non-profit organisations, including religious bodies, is to regulate their activities and not to control them as it is being pushed.

The CAMA 2020, which was signed into law recently but is yet to be gazetted, has generated controversies from different quarters, especially from church leaders, who claimed that the law was aimed at controlling the affairs of churches.

Many respected Christian leaders have spoken on the matter, including the founder of Living Faith Church also known as Winners Chapel, Bishop David Oyedepo, who said one of the contending issues was the power given to the registrar general of the Corporate Affairs Commission (CAC) or the supervising minister to tamper with the board of trustee of a charity organisation.

Under CAMA 2020, the commission may by order, suspend the trustees of an association or a religious body and appoint an interim manager or managers to coordinate its affairs where it reasonably believes that there has been any misconduct or mismanagement, or where the affairs of the association are being run fraudulently or where it is necessary or desirable for the purpose of public interest.

But Mr Oyedepo stressed that no government can change the composition of his church’s board, while the Christian Association of Nigeria (CAN) has said the law was an attempt to wage a war against the church in the country.

A few days ago, the General Overseer of the Redeemed Christian Church of God (RCCG), Pastor Enoch Adeboye, was at the Presidential Villa in Abuja for a meeting with President Muhammadu Buhari and it was speculated in some quarters that the respected cleric may have gone there because of the controversial law.

After his meeting with Mr Buhari, the RCCG leader declined to address some anxious journalists waiting for him outside.

On Wednesday, September 2, 2020, PwC organised a capability enhancement workshop for journalists and one of the speakers, Mr Taiwo Oyedele, spoke on the new CAMA 2020 law.

He pointed out that the law was not intended to control charity organisations, which religious bodies belong, but mainly to regulate their activities.

He said it was normal for any responsible government to regulate activities of any organisation that collects funds from members of the public, who must be protected.

Mr Oyedele also said the new law was the most important business regulation in Nigeria especially as it has a significant impact on doing business, competitiveness, attracting investments, and economic growth.

However, he stressed the need to gazette the CAMA 2020 with a future commencement date to facilitate ease of transition while emphasising the importance of effective implementation.

He noted the need to harmonise CAMA with other laws such as the Companies Income Tax Act which still requires audited accounts by all companies regardless of size.

In addition, more flexibility is required for foreign companies who wish to operate a business in Nigeria such that a branch registration should be permitted while incorporating a subsidiary will be optional, he posited.

According to the tax expert, it is also necessary to ensure that the new law is kept under constant review with more frequent amendments or re-enactment say every five years.

Also speaking at the event attended by over 100 financial journalists, including from Business Post, the Editor-in-Chief at Stears Business, Mr Tokunbo Afikuyomi Jr, highlighted the impact of the COVID-19 pandemic on news consumption patterns and what this means for the fortunes of journalists and their media houses.

He noted that in times of uncertainty, trustworthy reporting becomes even more important than the speed to break the news, noting that with the shift to digital platforms by consumers, reporters must balance the rush to be the first to publish with providing factual information written from a unique angle that adds value to the readers. He also emphasised the need for clarity of thoughts and clarity of expression for excellent reporting.

On his part, the Partner and Chief Economist at PwC Nigeria, Mr Andrew Nevin, tasked business journalists to add more value to their reporting.

He lamented reproduction of economic data from agencies without providing sufficient context or insights, urging reporters to track key metrics such as the Sustainable Development Goals (SDGs) and other policy pronouncements of governments which they can use to benchmark their analysis of NBS statistics and enrich their general reporting on the economy.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Bill Seeking Creation of Unified Emergency Number Passes Second Reading

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Unified Emergency Number

By Adedapo Adesanya

Nigeria’s crisis-response bill seeking to establish a single, toll-free, three-digit emergency number for nationwide use passed for second reading in the Senate this week.

Sponsored by Mr Abdulaziz Musa Yar’adua, the proposed legislation aims to replace the country’s chaotic patchwork of emergency lines with a unified code—112—that citizens can dial for police, fire, medical, rescue and other life-threatening situations.

Lawmakers said the reform is urgently needed to address delays, miscommunication and avoidable deaths linked to Nigeria’s fragmented response system amid rising insecurity.

Leading debate, Mr Yar’adua said Nigeria has outgrown the “operational disorder” caused by multiple emergency numbers in Lagos, Abuja, Ogun and other states for ambulance services, police intervention, fire incidents, domestic violence, child abuse and other crises.

He said, “This bill seeks to provide for a nationwide toll-free emergency number that will aid the implementation of a national system of reporting emergencies.

“The presence of multiple emergency numbers in Nigeria has been identified as an impediment to getting accelerated emergency response.”

Mr Yar’adua noted that the reform would bring Nigeria in line with global best practices, citing the United States, United Kingdom and India, countries where a single emergency line has improved coordination, enhanced location tracking and strengthened first responders’ efficiency.

With an estimated 90 per cent of Nigerians owning mobile phones, he said the unified number would significantly widen public access to emergency services.

Under the bill, all calls and text messages would be routed to the nearest public safety answering point or control room.

He urged the Senate to fast-track the bill’s passage, stressing the need for close collaboration with the Nigerian Communications Commission (NCC), relevant agencies and telecom operators to ensure nationwide coverage.

Senator Ali Ndume described the reform as “timely and very, very important,” warning that the absence of a reliable reporting channel has worsened Nigeria’s security vulnerabilities.

“One of the challenges we are having during this heightened insecurity is lack of proper or effective communication with the affected agencies,” Ndume said.

“If we do this, we are enhancing and contributing to solving the security challenges and other related criminalities we are facing,” he added.

Also speaking in support, Senator Mohammed Tahir Monguno said a centralised emergency number would remove barriers to citizen reporting and strengthen public involvement in security management.

He said, “Our security community is always calling on the general public to report what they see.

“There is a need for government to create an avenue where the public can report what they see without any hindrance. The bill would give strength and muscular expression to national calls for vigilance.”

The bill was referred to the Senate Committee on Communications for further legislative work and is expected to be returned for final consideration within four weeks.

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Tinubu Swears-in Ex-CDS Christopher Musa as Defence Minister

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By Modupe Gbadeyanka

The former chief of defence staff (CDS), Mr Christopher Musa, has been sworn-in as the new Minister of Defence.

The retired General of the Nigerian Army took the oath of office for his new position on Thursday in Abuja.

The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, confirmed this development in a post shared on X, formerly Twitter, today.

“General Christopher Musa takes oath of office as Nigeria’s new defence minister,” he wrote on the social media platform this afternoon.

Earlier, President Bola Tinubu thanked the Senate for confirming Mr Musa when he was screened for the post on Wednesday.

“Two days ago, I transmitted the name of General Christopher G. Musa, our immediate past Chief of Defence Staff and a fine gentleman, to the Nigerian Senate for confirmation as the Federal Minister of Defence.

“I want to commend the Nigerian Senate for its expedited confirmation of General Musa yesterday. His appointment comes at a critical juncture in our lives as a Nation,” he also posted on his personal page X on Thursday.

The former military officer is taking over from Mr Badaru Abubakar, who resigned on Sunday on health grounds.

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Presidential Directives Helping to Remove Energy Bottlenecks—Verheijen

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Cut Energy Costs

By Adedapo Adesanya

The Special Adviser to President Bola Tinubu on Energy, Mrs Olu Verheijen, says Presidential Directives 41 and 42 have emerged as the most transformative policy tools reshaping Nigeria’s oil and gas investment landscape in more than a decade, by helping eliminate bottlenecks.

Mrs Verheijen made this assertion while speaking at the Practical Nigerian Content Forum 2025, noting that the directives issued by her principal in May 2025, are specifically designed to eliminate rent-seeking, slash project timelines, reduce contracting costs, and restore investor confidence in the Nigerian upstream sector.

“These directives are not just policy documents; they are enforceable commitments to make Nigeria competitive again,” she declared.

She noted that before the directives were issued, Nigeria faced chronic delays in contracting cycles, which discouraged capital inflows and stalled major upstream projects.

“For years, investment stagnated because our processes were too slow and too expensive. Presidential Directives 41 and 42 are removing those bottlenecks once and for all,” she said.

According to her, the directives have already begun to shift investor sentiment, unlocking billions of dollars in new commitments from international oil companies.

“We are seeing unprecedented investment inflows. Shell, Chevron and others are returning with confidence because they can now see credible timelines and competitive project economics,” Verheijen said.

Speaking on the link between streamlined contracting and local content development, she stressed that the directives were crafted to reinforce, not weaken, Nigerian participation.

“Local content is not an obstacle; it is a catalyst. It helps us meet national objectives, contain costs, and deliver projects faster when applied correctly,” she explained.

Mrs Verheijen highlighted that the directives complement the government’s data-driven approach to refining local content requirements while ensuring Nigerian talent and enterprises remain central to new investments.

“Our goal is to empower Nigerian companies with opportunities that are commercially sound and globally competitive,” she said.

She pointed to the current spike in industry activity, over 60 active drilling rigs, as evidence that the directives are driving real operational change.

“We have moved from rhetoric to results. These directives have triggered a new cycle of upstream development,” she said.

The energy expert added that the reforms are critical to achieving Nigeria’s production ambition of 3 million barrels of oil and 10 billion standard cubic feet (bscf) of gas per day by 2030.

“To meet these targets, we need speed, efficiency, and collaboration across the value chain. The directives are the foundation for that,” she noted.

She also linked the directives to Nigeria’s broader regional ambitions, including its leadership role in the African Energy Bank.

“With a $100 million facility now launched, we are ensuring that investment translates into jobs, technology transfer, and long-term value for Nigeria,” she said.

Mrs Verheijen concluded by urging the industry to uphold the spirit and letter of the presidential instructions.

“These directives are a collective responsibility. Government, operators, financiers, and host communities must work together to deliver the Nigeria we envision,” she said. “We remain committed to ensuring Nigeria remains Africa’s premier investment destination,” she said.

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