Tuesday, January 10, 2017

President Buhari Appoints New Chairman & Executive Secretary Of Financial Reporting Council Of Nigeria

President Muhammadu Buhari has approved the immediate removal and replacement of Jim Obazee, the Executive Secretary of the Financial Reporting Council of Nigeria (FRCN).

A statement issued by the President’s Senior Special Assistant on Media and Publicity, Garba Shehu, on Monday in Abuja, said the president also approved the reconstitution of the agency’s board.

The statement also said that President Buhari approved a Chairman and a new Executive Secretary for the council.

According to the statement, the new Council as approved by the President has Adedotun Sulaiman, as Chairman and Daniel Asapokhai as the new Executive Secretary.

Sulaiman was a former Managing Partner/Director of Arthur Anderson and, later, Accenture.
He is a Chartered Accountant and a graduate of the University of Lagos and Harvard Business School, while Asopokhai was a partner and a Financial Reporting Specialist at the PricewaterHouseCoopers (PWC), Nigeria.

He graduated from 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,’’ the statement said.

Recall that the FRCN revised the “Corporate Governance Code” in October 2016 to say that Religious Leaders and Heads of NGOs are only allowed a maximum of 20 years in office before they hand-over to another individual. The said code, also directed that any leader above 70 years of age should also hand-over to another individual.

This code forced Pastor E.A Adeboye to appoint an Overseer of the Redeemed Christian Church of God (RCCG), Nigeria – Pastor J.O Obayemi – while he (Adeboye) remains the General Overseer, Worldwide.