PASTORS AND SOCIO-ETHICAL ISSUES IN FINANCIAL MANAGEMENT IN

SELECTED CHURCHES OF LAGOS CENTRAL BAPTIST CONFERENCE

2010-2020

SUPERVISOR

DR TOKUNBO BANKOLE

AHMED ADEBAYO DAVID

CGTS/PG/22/1653

OCTOBER, 2023
 Table of Contents

Chapter One: Introduction

1.1 Background to the Study

1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Scope of the Study
1.5 Significance of the Study
1.6 Research Methodology
1.7 Definition of Terms

Chapter Two: Literature Review

2.1 Socio-Ethical Issues

2.2 Concept of Social Ethics

2.3 Financial Ethics

2.4 Financial Management

2.4.1 Components of Financial Management

2.4.2 Challenges to Financial Management

2.4.3 Overcoming Challenges to Financial Management

Chapter Three: Socio-Ethical Issues in Financial Management

3.1 Conflict of Interest

3.2 Insider Trading

3.3 Window Dressing

3.4 Fake Reimbursement

3.5 Executive Compensation

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Chapter Four: Pastors and Socio-Ethical Issues in Financial Management in the
Selected Churches

4.1. xxxxxxxxxxxxx

4.2. xxxxxxxxxxxxx

4.3 xxxxxxxxxxxxxx

4.4. xxxxxxxxxxxxxx

Chapter Five: Summary, Conclusions and Recommendations

5.1 Summary of the Thesis

5.2 Conclusion

5.3. Contribution to Knowledge

5.4 Recommendations

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 CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

The issue of financial management in Nigeria churches and pastors across the spectrum

and the Lagos Central Baptist Conference are not excluded. With regards to this, the

socio-ethical concerns have been an issue of significant discourse in the pages of

newspapers. While many pastors and churches operate with transparency and ethical

financial practices, there have been instances of grave misconduct and controversies.

While the church encourages giving, it is expected that such funds will be managed with

utmost care and in line with biblical injunction and practices. However, many churches

have become a laughing stock because of lack of due diligence in financial management

which made accountability near difficult or impossible. Some Churches now are run as

one-man business enterprise rather than a place of worship. Baptist denomination

believes in congregational system of governance which entrenches accountability and

transparency.

Financial management which has integrity at its fulcrum is a very important tool in

making a pastor and church stand up to scrutiny. Paul the apostle said, “Finally, brothers

and sisters, whatever is true, whatever is noble, whatever is right, whatever is pure,

whatever is lovely, whatever is admirable, if anything is excellent or praiseworthy, think

about such things” (Philippians 4:8, New International Version).

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Integrity is of utmost importance in the life of the pastor and church, unfortunately this is

an area of struggle for many pastors and churches. Integrity is the stage of having the

quality of honesty, moral principles and moral uprightness (Cloud 6). Lack of honesty

especially in financial management has impacted negatively the societal view of the

church, especially her evangelistic efforts.

Financial management good record keeping of income and expenditure is a good tool for

fostering the gospel and promoting the pastor in the eyes of the people. “As for you, if

you walk before me faithfully with integrity of heart and uprightness, as David your

father did, and do all I command and observe my decrees and laws, I will establish your

royal throne over Israel forever, as I promised David your father when I said, ‘You shall

never fail to have a successor on the throne of Israel.”(1 King 9:3-5, NIV). The key to

upliftment is in integrity and not cutting corners as some pastors do. No wonder Adejala

said that “Money wouldn’t make you rich” (Adelaja 6).

Accountability is what makes a man of God to stand out. This is exemplified by what

Samuel did before the children of Israel thus;

Then Samuel said to all Israel, I have carefully listened to everything

you said to me and placed a king over you. Now you can see that the
king is leading you. As for me, I’m old and gray and my sons are here
with you. I have led you from my youth until now. Here I am bring
charges against me before the lord and his anointed. Whose ox or
donkey have I taken? Whom have I wronged or mistreated? From
whom have I accepted a bribe to overlook something? I will return it to
you. You haven’t wronged us, you haven’t mistreated us, and you
haven’t taken anything from anyone, they responded (1 Samuel 12:1-4,
CSB).

The misdeeds and misconduct of pastors in respect to probity and accountability have

actually made some to have left the ministry, some are under reproach and the church is

under public scrutiny. This is the ground on which this research has become very

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expedient to undertake to bring light to pastors especially in Lagos Central Baptist

Conference which is the scope of the study.

1.2 Statement of the Problem

Financial management has been a wound to the church and many pastors. Many pastors

have ship-wrecked their ministries as a result of financial dealings and the church is

under reproach. The fact that some pastors of the Lagos Central Baptist Conference may

be complicit in their handling issues of finance, is the problem this study seek to react to.

1.3 Objectives of the Study

The objectives of the study include;

i. discuss socio-ethical issues

ii. evaluate financial management

iii. view the components of financial management

iv. identify the challenges in financial management

v. proffer solutions to challenges of financial management

1.4 Scope of the Study

This study will be centered on selected churches of the Lagos Central Baptist Conference.

The Lagos Central Baptist Association is made up of nine (9) Associations, one hundred

and twenty (120) churches and at least one hundred and sixty (160) pastors. The area of

coverage of the conference is well spread out the length and breadth of Lagos State in

about thirty (30) Local Government Areas.

1.5 Significant of the Study

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This study will be useful to many categories of people, church members and leaders,

pastors, politicians, academia and the general populace. Church members and leaders will

be educated into knowing that financial management is a vital tool for church admiration

and church growth. It will give credence to the church leadership and encourage people

to give more for the work of mission.

Financial Management is a gauge to the spiritual stability of a pastor. In fact, any pastor

who is able to get a pass mark in financial management will have a high mark on the

integrity scale. Samuel presented himself for probe and accountability and the result was

wholesome. Thus, financial management on the part of a pastor speaks volume of who he

is and give his message high acceptability.

Politicians especially Christian politicians will learn a lesson from this study as knowing

the fact that corruption is sin and that it is only God that can prosper a person not the

corners he cuts. Members of the academic will have a lot to write on the transparency,

accountability and prudence of church leaders and this will lead to educating the society

on the relevance of financial management.

1.6 Research Methodology

This study will adopt the qualitative, quantitative and historical methods. The qualitative

methods which are meant to be interactive will involves oral interview to a portion of the

study area. 50 respondents will be interviewed. Quantitative which is proxy in nature will

involve administration of questionnaire in this case, 500 copies of the questionnaire will

be administered with the study area in which respondent will include pastors, elders,

members (both male and female). Historical method will be to cover the history of the

study area and also financial management in the area.

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1.7 Definition of Terms

The key terms for clarification include;

a. Churches: Easton’s Bible Dictionary defines the NT church as ecclesia which means an

assembly. It is translated assembly in the ordinary classical sense (Acts 19:32, 39 & 41).

It also denotes the whole body of the redeemed, all whom the Father has given to Christ

(Ephesians 5:23, 25, 27). Additionally, it is also used for few Christians associated

together in observing the ordinances of the gospel (Romans 16:5). In the same vein, all

Christians in a particular city whether they assembled in one place or several places for

religious worship (Acts 8:1, 13:1, Revelations 2:1). The whole body of professing

Christians throughout the world (1 Corinthians 15:9, Matthew 16:18, Galatians 1:13)

b. Pastors: A Pastor in the New Testament is severally called elder, bishop, It

generally emphasizes the dignity of the office and a leadership role. in other

contexts, it is translated "shepherd", as he leads, guides, and oversees the welfare

of a flock of sheep that follow him wherever he leads

c. Lagos Baptist Conference: Lagos Baptist Conference, was principally a part of

the Nigerian Baptist Convention, created for administrative convenience, in order

to effectively coordinate the co-operative programmes and mission works of the

convention

d. Financial Management: This is the practice of handling finances in a way that

allows it to be successful and compliant with regulations. It is a process that is

used to ascertain the prudency and utilization of funds by an organization

e. Socio-Ethical Issues: There are also known as social and ethical issue and are

issues that arise as a result of the interaction of society and ethics.

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