Why is the logo of Freemasonry and Iglesia ni Cristo similar?

Both contain a pair of compasses. The use of the compasses by Masonic organizations predates the founding of the Iglesia ni Cristo by about 200 years. Unlike the founders of the Mormon Church, the founder of Iglesia ni Cristo did not appear to have been a Freemason, and since Freemasonry is not a religion and does not have a religious agenda, there would have been no reason to incorporate a Masonic symbol into the church logo.

It is likely just a coincidence.