Corporate Affairs Commission has stressed the need for Non-profit Organizations to ensure strict compliance with its regulations as part of measures being taken to fight corruption, money laundering and checkmate illicit activities of terrorists in Nigeria
Deputy Director, Registrar -General's office, CAC,Mr Tolulope Sonaike stated this on Wednesday at the ongoing 2-day workshop being held in Abeokuta on Regulatory compliance for members of community of practice on civic space strengthening in Ogun State, organized by Global Rights In partnership with European union.
Sonaike explained that strict compliance through proper record keeping, particularly annual returns would make them to remain active with CAC on its online registration platform, so as to attract fund from local and international donor organisations to support their respective humanitarian activities in the society
Similarly,a legal expert on companies and allied matters, Prof.Adedeji Adekunle emphasized the need for non- profit organizations to always engage the services of Compliance Officers who will keep them abreast with proper documentation with the regulatory agency and protect them from being used as platform for money laundering to finance terrorism
Chief Superintendent of Economic and Financial Crime Commission ( EFCC), Temitope Erinomo cautioned NPOs against being used as a platform for money laundering or funding for terrorism.
Erinomo, an officer in the Special Control Unit of Money Laundering of EFCC urged them to always verify details about their donors, member and beneficiaries of their activities to detect if such people had been designated as terrorists or members of terrorist group
He warned that a relationship with any of the terrorist groups, would destroy reputation of Non-profit Organizations and public trust in their selfless services in the community
Programme Manager of Global Rights, Edosa Oviawe speaking with newsmen from the sideline of the workshop, explained that the purpose of the workshop was to keep operators of Civil Society Organisations.or Non-profit Organizations abreast with the regulations by regulatory agency and how to ensure compliance with the statutory regulations, in order to regain credibility and trust of the public in thier activities
Oviawe added that the Global Rights had in the last 10years been organizing series of training for CSOs , building the capacity Non-profit Organizations
"We have been going from one state to another state, we have been able to develop community of practice, bringing together CSOs, regulators and other stakeholders ", he stated
The Programme Manager stressed the need for coming together of CSOs to take a common positions on amending some of the aspect of the regulations , so as improve on operational environment
He revealed that the ongoing capacity building programme which started in 2023 had been held in Cross-Rivers , Ebonyi, Oyo, Akwa-Ibom, during which 100 operators of CSOs were trained on how to ensure compliance with regulations saying the number will be increased by over 20 at the end of the two-day training programme in Abeokuta
"We have assisted operators of CSOs to develop Action-Plan on how to ensure compliance with regulations"
Oviawe expressed satisfaction with level of compliance from between 20 and 30 percent to between 70 and 80 percent level of compliance
Global Rights according to him, will soon host South West conference of CSOs , where regulators and stakeholders where critical issues affecting the operation of CSOs with aims of strengthening operations of CSOs in Nigeria
Also speaking former Executive Director of WARDC , Dr.Abiola Akiode Afolabi stressed the importance of ensuring compliance with regulations guiding operations of CSOs, enjoining the participants across Ogun State at the two -day capacity building programme to make good of knowledge gained to improve on the operational environment in the country
The capacity building programme will be concluded on Thursday with training on Non-profit Taxation by resource persons from both Federal Inland Revenue Service (FIRS) and Ogun State Internal Revenue Service (OGIRS)
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