Monday, January 9, 2017

President Buhari fires FRC Executive Secretary, Jim Obazee; possibly due to Pastor Adeboye's resignation

Mr Jim Obazee


President Muhammadu Buhari has ordered the dismissal of the Executive Secretary of the Financial Reporting Council of Nigeria, Mr. Jim Obazee, and ordered the reconstitution of the FRC board.

This may be due to the resignation of Pastor Enoch Adeboye as the General Overseer of RCCG Nigeria based on a law by the council which has sparked a furore among members of the church.

According to a report by The Punch, the Minister of Industry, Trade and Investment, Mr. Okechukwu Enelamah had written the FRCN boss, directing him to suspend the implementation of the controversial regulation.

But it was learnt that Obazee defied the instruction of the minister, insisting that the implementation of the regulation would go ahead. Obazee said the implementation of the regulation could not be suspended because there was no gazette that indicated that it had been amended or suspended.


This decision to fire Obazee was made known through a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.

The statement reads:
“President Muhammadu Buhari has approved the immediate removal and replacement of the Executive Secretary and the reconstitution of the board of the Financial Reporting Council of Nigeria.

He has appointed a Chairman and a new Executive Secretary for the council. The new Council as approved by the President has Mr. Adedotun Sulaiman, MFR, as Chairman.

Mr. Sulaiman was a former Managing Partner/Director of Arthur Anderson and later, Accenture. He is a Chartered Accountant and a product of the University of Lagos and Harvard Business School.

The President has also approved the appointment of Mr. Daniel Asapokhai as the Executive Secretary of the Council. Mr. Asopokhai is a partner and a Financial Reporting Specialist at the PricewaterHouseCoopers, Nigeria.

He is a product of the University of Lagos and the University of Pretoria. President Muhammadu Buhari has also instructed the Minister of Industry, Trade, and Investment to invite the nineteen ministries, departments and agencies of the Federal Government and private sector organisations specified in the FRC Act to nominate members of the board of the council.”

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