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The Vice President said this on Thursday while fielding questions at the 60th virtual conference of the Nigerian Bar Association (NBA).
“My view is that we have a process by which the concerns can be addressed. What the proposals for amendments may be, it should be out into a proposal and presented to the National Assembly,” Osinbajo said.
“We are in a democracy and there are processes for concerns to be addressed.”
He noted that the review of the new law which covers wide-range of things will require a huge legislative process.
Though the new Companies Allied Matters Act 2020, has generated a lot of controversies from Non-Governmental Organisations and religious bodies, Osinbanjo believes that the “solutions seem quite evident.”
“First the reviewed CAMA is a very huge legislation and has over 800 sections and covers a wide range of issues on companies,” he said.
“There is a small portion of that legislation that is for incorporated trustees. That section regulates charities. Churches and Mosques are regarded as charities.”
There were a lot of controversies over section 839 (1) and (2) of the new Companies Allied Matters Act 2020, that grants powers to the Registrar General of the Federation to suspend trustees and appoint interim managers of associations like civil society organizations and churches in the event of some wrongdoing.
The Christians Association of Nigeria (CAN), has kicked against the law, describing it as unacceptable and satanic.
Samson Ayokunle, CAN President in a statement by Adebayo Oladeji, his Special Assistant, Media and Communication, maintained that the Christians’ umbrella body would not accept any disguise by the government to exercise control over the church because of the church’s spiritual roles and responsibilities.
He called on President Muhammadu Buhari to immediately return the law to the National Assembly for a review before it is implemented.
In the same vein, the Socio-Economic Rights and Accountability Project (SERAP), also described the law as the most repressive law in Nigeria’s history, saying it will be used to further suppress citizens’ rights.
The accountability organisation vowed to challenge its illegality in court.