FG Suspends Law That Led To Pastor Adeboye's Stepping Down As RCCG's G.O

Federal Government on has suspended the controversial Corporate Governance Code that led to the stepping down of Pastor Enoch Adeboye as the overseer of the Redeemed Christian Church of God in Nigeria.

The code which was said to be enacted by the former Financial Reporting Council of Nigeria was suspended on Monday in a statement by the Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah.

The Minister of  Strategic Communication Adviser, Constance Ikokwu, said the code was suspended in order to carry out a detailed review of its application.

The statement reads in part, “The Corporate Governance Code issued by the Financial Reporting Council of Nigeria has been suspended, pending a detailed review, extensive consultation with stakeholders and reconstitution of the board of the FRC, Government remains committed to restoring and enhancing market confidence and improving the Ease of Doing Business in Nigeria. Government is committed to strengthening FRC and enhancing its capacity to fulfill its core mandate.”