President Buhari sacks Obazee, orders reconstitution of FRC board

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

The decision comes two days after Pastor Enoch Adeboye of the Redeemed Christian Church of God stepped down as the General Overseer of RCCG Nigeria based on a law by the council, sparking outrage among members of the church.

The statement read, “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.”