The Presidency has told the leadership of the Christian Association of Nigeria (CAN), that the provisions of Companies and Allied Matters (CAMA) Act (2020) was never targeted at churches.
Commenting on the furore generated over the CAMA act, the Senior Special Assistant to the President on Niger Delta Affair, Senator Ita Enang said there has been deliberate misinformation and falsehood by persons who may not have fully and in-fact personally read and digested the provision of the Act.
“First, the bill as it then was, was not an Executive bill transmitted by President Buhari to the legislature but initiated by a Senator and member of the House in the respective chambers, at the behest of the Corporate Affairs Commission and support of the Ministry of Trade and Investment. It was therefore not an executive bill, but upon passage was transmitted to Mr. President for assent.
“Secondly, upon receipt of same for assent, Mr. President in accordance with extant best practice escalated the measure to appropriate Ministries, Departments and Agencies who made different inputs some of which lead to Mr. President declining assent twice to the bill in the entire tenure or life of the 8th Assembly.
“Thirdly, as the 9th Assembly inaugurated, the bill was again re-introduced by Senators and Honourable members, and all the observations made on the 8th Assembly bill incorporated and addressed, without any amendment or insertion and in whole passed by the two chambers and being without differences was transmitted to Mr. President for assent.
“It is pertinent to state that prior to this ACT, Incorporated Trustees or Law of Trust was regulated by the COMPANIES AND ALLIED MATTER ACT,1990, now repealed by the 2020 CAMA,” he said.
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