Nigeria President Muhammadu Buhari on Monday, has sacked the Executive Secretary of the board of the Financial Reporting Council of Nigeria (FRCN), Jim Obazee, that approved the “Corporate Governance Code” in law and , has ordered his replacement immediately.

The President’s resolve to wield the big stick may not be unconnected to Obazee’s decision to enforce the FRCN regulation on churches that led to Pastor Enoch Adeboye appointing a New General Overseer for the Redeemed Christian Church of God, RCCG, on Saturday in the person of Pastor Joseph Obayemi.

In a statement issued by Garba Shehu, Senior Special Assistant to the President on Media and Public, the president ordered the reconstitution of the board and the replacement of Obazee with Mr Adedotun Sulaiman, as Chairman.

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

“Buhari had 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.”

Some Clerics in Lagos have expressed divergent views on the law by the Financial Reporting Council of Nigeria (FRCN) stipulating a maximum period in Office for heads of registered Churches, Mosques and Civil Society Organisations.

The law, the Financial Reporting Council of Nigeria Act, No. 6 of 2011, prescribes a maximum period of 20 years in Office for heads of registered Churches, Mosques and Civil Society Organisations.

How Buhari Sacked FRCN's Official that Approved Retirement Law that Led to Adeboye’s Resignation as RCCG's GO