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Adeboye’s Retirement: Buhari Bows to Pressure, Fires Obazee‎ of Financial Reporting Council

Forty eight hours after Pastor Enoch Adeboye retired as the National General Overseer of the Redeemed Christian Church of God (RCCG), President Muhammadu Buhari has fired the Executive Secretary of the Financial Reporting Council of Nigeria (FRC), Jim Obazee.

President Buhari has also ordered the immediate reconstitution of the Financial Reporting Council of Nigeria (FRC).

Adeboye’s controversial retirement was in compliance with the new legal requirements set up by the FRC, guiding all registered churches, mosques, and civil society organisations (CSOs), which stipulates that heads of non-profit organisations now have a maximum period of twenty years to lead their organizations.‎

Adeboye’s forced retirement led to a face-off between Minister of Industry, Trade and Investment, Mr. Okechukwu Enelamah, and Obazee according to reports on Monday.

A source familiar with the development told SIGNAL on Monday that Obazee’s sack may not be unconnected with pressure largely from Christian leaders who see the regulation as an attack on the Church.

“Top Christian leaders across the country have been reacting privately to the FRC’s regulation and the role Obazee played in pushing it through. There has been immense pressure on the President as well looking at the religious connotation of the new regulation and its growing perception as an attempt to Islamise Nigeria under the current administration. The issue was brought before the President and he was displeased with the way it was handled by the FRCN. Reports of insubordination, following Obazee’s face-off with the Minister of Industry, Trade and Investment also did not help matters. Obazee’s sack is also expected to pacify the growing resentment across the country over the regulation”, the source said.

In a statement ‎by the Senior Special Assistant on Media and Publicity, Garba Shehu, the President named Daniel Asapokhai as Obazee’s replacement and ‎appointed Adedotun Sulaiman as Chairman of the board.

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.”

It is not immediately clear at the time of this report if the new appointments would lead to a moderation or complete reversal of the FRC’s regulation. 

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Copyright 2015 SIGNAL. Permission to use portions of this article is granted provided appropriate credits are given to www.signalng.com and other relevant sources.

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