Financial Management Practices as Determinant of Growth of the Redeemed Christian Church of God, Province 12, Ibadan Oyo State, Nigeria

Many pastors who establish churches have limited involvement in financial management because of inadequate financial knowledge, limited interest in accounting procedures, or competing ministerial and administrative responsibilities. Effective financial management, particularly the proper management of church assets, is essential for accountability, transparency, and sustainable organisational growth. This study assessed financial management practices as determinants of growth in the Redeemed Christian Church of God (RCCG), Oyo Province 12, Ibadan, Oyo State. The study employed a survey research design and used self-administered questionnaires to collect data from respondents across ten parishes. Of the 100 questionnaires reportedly administered, 91 were returned. The study was anchored in Agency Theory, which provided a framework for examining accountability and the relationship between church leaders and those who entrust them with financial resources. The findings indicated low compliance with recommended financial management practices, with an average compliance level of 20.18%. This result suggests weaknesses in the financial management practices examined and points to the need for improved financial accountability within the province. The study concluded that inadequate financial management practices may undermine members’ confidence and potentially affect the church’s financial performance and growth. It recommended regular capacity-building workshops and seminars for church treasurers, the preparation and implementation of annual budgets, and the establishment of sound financial management procedures to strengthen transparency, accountability, and sustainable church growth.