Buhari sacks Obazee of FRCN, suspends FRN code

Ebun Francis

Barely two days after his reform lead to  the stepping down of Pastor Enoch Adeboye as the General overseer of The Redeemed Christian Church (RCCG), the Federal Government, Monday announced the removal of Mr. Jim Obazee,as the executive secretary of the Financial Reporting Council of Nigeria and also ordered the reconstitution of the council’s  board.

The removal of Obazee was contained in a statement by Garba Shehu, the senior special assistant to the president on mdia and publicity.
The sacked Financial Reporting Council boss will be replaced by Mr. Daniel Asapokhai, a partner and a Financial Reporting Specialist at the PricewaterHouseCoopers (PWC), Nigeria. He is an alumni of the University of Lagos and the University of Pretoria.
Mr Adedotun Sulaiman, will serve as the board chairman. He  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.
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.
Obazee has been in the eye of the storm since his council was linked with the controversial resignation of Pastor Enoch Adeboye as the General Overseer of the Redeemed Christian Church of God.
Reports indicated that Obazee had run into problem with some ministers in President Buhari’s cabinet who wanted him, as far back as October 2016,  to suspend the implementation of the rule.  The Obazee insisted on its implementation.
Many church leaders and Islamic bodies were said to have opposed the rule.