BEVERLY HILLS, January 9, (THEWILL) – President Muhammadu Buhari has approved the immediate removal of Mr. Jim Obazee as head of the Financial Reporting Council of Nigeria (FRN) and the reconstitution of the board of the agency.
The President appointed a new Chairman and a new Executive Secretary for the council, a statement by Garba Shehu, Senior Special Assistant to the President (Media and Publicity), said Monday.
No reason was given for the development.
THEWILL can however report that Obazee’s sudden removal could be linked to a controversial provision which limited the tenure of heads of non-profit organizations, like religious institutions to 20 years. The General Overseer of the RCCG, Pastor Enoch Adeboye was forced to retire weekend following the law. Several other powerful and influential church heads would be forced out following the law.
“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 (PWC), 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 organizations specified in the FRC Act to nominate members of the board of the council.”