Corporate Affairs Commission (CAC) Board Chairman Demola Seriki has explained that the Companies and Allied Matters Act (CAMA) was enacted in good faith.
He said its implementation will foster international best practices in the country.
Seriki berated critics of the law for skipping its core elements and whipping up sentiments among religious bodies.
The ambassador-designate, who spoke on phone, said if the law is working perfectly in Europe and America, nothing stops it from working in Nigeria.
Seriki described its enactment as a milestone, urging religious bodies to support its implementation in national interest.
The former Minister of State for Defence wondered why Nigerians, who copy many innovations and ideas from the Western world, are resisting a law that is meant to reposition business operations.
Emphasising that CAMA was devoid of sentiments, he said aggrieved religious groups are still at liberty to propose their bills to the National Assembly.
Seriki advised religious bodies to shun opulence and lifestyle that could derail their original vision and focus.
He allayed the fear of clampdown on religious activities, saying there is no basis for religious repression.
Seriki explained that while the provision on the appointment of a board of trustees is sacrosanct, its implementation will reflect sensitivity and balance.
He said: “Muslims cannot be trusted in churches and Christians cannot be trustees in mosques.”