I felt it necessary to highlight and react to some statements by @APOSTLESULEMAN in this video.
1. "They say they can just give the church a BOT"
False. S.839(1) of CAMA says "The Commission may by order suspend the trustees and appoint an INTERIM MANAGER (not replace trustees)
1. "They say they can just give the church a BOT"
False. S.839(1) of CAMA says "The Commission may by order suspend the trustees and appoint an INTERIM MANAGER (not replace trustees)
2: "The govt that will change a BOT in this ministry has not been born"
This statement is coming from the mindset of a man who thinks - The Ministry belongs to him. IT DOES NOT. He can't inherit the assets of the church nor directly or indirectly transfer to his wife or children
This statement is coming from the mindset of a man who thinks - The Ministry belongs to him. IT DOES NOT. He can't inherit the assets of the church nor directly or indirectly transfer to his wife or children
In the event where assets are diverted, it means the trustees who are fiduciaries have failed in their responsibility & the CAC has a duty to intervene to protect those assets for humanity. Someone needs to tell the Pastor that the trustees will be changed & heaven will not fall.
3. "What you should talk about is transparency. If you even say that church should submit their financial report, I will be the first"
There is a lot to unpack here.
- There are at least 6 regulations requiring charity organisations to keep and submit financial records.
There is a lot to unpack here.
- There are at least 6 regulations requiring charity organisations to keep and submit financial records.
- CAMA requires NGO's to submit annual report.
If the Pastor is saying that "he will be the first", should we assume from that statement that his org has not been submitting its financial report and hence in violation of several tax regulations?
@firsNigeria shld be interested.
If the Pastor is saying that "he will be the first", should we assume from that statement that his org has not been submitting its financial report and hence in violation of several tax regulations?
@firsNigeria shld be interested.
4. "You don't appoint a Trustee who has not been around at all and has no stake in the company"
There is also a lot to unpack here:
- Incorporated Trustees are for non-business & non-profit making org. You don't appoint trustees for business entities like - Companies.
There is also a lot to unpack here:
- Incorporated Trustees are for non-business & non-profit making org. You don't appoint trustees for business entities like - Companies.
Secondly, trustees are not "shareholders" in a Charity Org. They hold no "Shares". They are not appointed because they've a "Stake", they're appointed to assist the Commission to ensure that assets of the org are used judiciously to carry out the approved constitution of the org.
When a Pastor begins to imagine and describe his Ministry using terms applicable to "for-profit" orgs, then it should make us concerned about his understanding of the law under which his org is registered and how their resources are currently managed.
*Trustees will be suspended
