Nigeria: Group Encourages Financial Accountability in Faith-Based Organisations

18 October 2019

To ensure accountability, transparency and good governance in churches and other faith-based organisations, Christian Financial Accountability Association (CFAA), has called on church leaders to deepen financial accountability, ethical and governance standards among churches in the country.

CFAA is a self-regulatory association of churches and Christian faith-based organisations aimed at fostering accountability and good corporate governance among churches and faith based organisations.

Cognisant of the role of the church in the society, CFAA exits to educate and strengthen the capacity of the church as she takes on her mandate to preach the gospel and transform the nations.

CFAA was officially launched with an inaugural conference recently in Lagos.

The conference featured notable speakers like Chairman of First Bank of Nigeria, Ibukun Awosika; Prinicpal, Alder Consulting, Leke Alder; Senior Pastor, Daystar Christian Centre, Sam Adeyemi; Partner PWC, Taiwo Oyedele and Managing Patner, Ivory Solicitor, Tomi Vincent.

Speaking during the maiden media briefing and conference of CFAA, Pastor Adeyemi said although churches do not owe the government any responsibility in terms of the management of their finances, the formation of the body was a deliberate step to help them improve on their financial management skills.

"We must admit that most church leaders don't have the financial management skills. When we help the churches and other Christian faith-based organisations to structure better, their finances will improve", he noted further.

A financial expert and economist, Mr. Yinka Ogunubi said the objective of CFAA was to ensure that churches ensure accountability, transparency and good governance.

"You cannot say you are championing the cause of Christianity and at same time you are afraid of being accountable because the basis of Christianity itself is accountability to God", Ogunubi added.

Ogunnubi said the organisation run by professionals would focus on education and enlightenment on corporate governance and accountability.

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