Home News Reps to conduct public hearing on FRC’s activities
Reps to conduct public hearing on FRC’s activities
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Reps to conduct public hearing on FRC’s activities

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Image result for Financial Regulatory Council of NigeriaThe House of Representatives is to carry out a detailed public hearing on the activities of the Financial Reporting Council of Nigeria, regarding non-profit organisations

In the last one week, controversy has trailed the enforcement of some of the regulations guiding the operations of non profit organisations such as churches and mosques.

In the wake of the controversy, helmsman of the Financial Regulatory Council of Nigeria, Jim Obazee, was booted out of office

The legislators now believe there is the need to take a second look at the regulations in order to avoid conflicts of interest.

Minority Leader, Leo Ogor is the architect of the initiative.

He wants the Nigerian authorities to make the regulation clear to Nigerians, since it isnt based on any law passed by the National Assembly.

Part of the regulation causing ripples stipulates that no leader should hand over to family members upon the expiration of a twenty year tenure.

Before his unceremonious exit, Obazee disclosed that only 89 out of the 23, 216 registered churches in the country, complied with the FRCN regulation.

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