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“Corporate Governance Code”: 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.


  1. demashi

    January 9, 2017 at 8:30 pm

    Obazee barked and finally barked up against the wrong tree

  2. Xoxo

    January 9, 2017 at 10:18 pm

    I’m just going to drop this here; Exodus 14:14.

  3. naya

    January 10, 2017 at 4:49 am

    God is great, d wisdom he gave pastor Adeboye is still surprising….. they thought they had him, butGod gave him d wisdom to obey d law and still be in charge now he has fought for him while Adeboye held his peace
    No need struggling with man, just leave it all to God, d greatest planner

    • Lola

      January 10, 2017 at 10:03 am

      This our God is too great! He confounds the wise…those with human wisdom. God’s wisdom reigns supreme.

  4. kay

    January 10, 2017 at 5:27 am

    Cry no more general overseers; our God has conquered satan. Now you can be the master and ruler over your churches.

  5. .....just saying

    January 10, 2017 at 8:58 am

    SMH! If only this Fulani man could swing to this level of speed when his herdsmen have been killing people since 19gbogboro and Southern Kaduna killings

    • kay

      January 10, 2017 at 1:58 pm

      The churches form a substantial voting block; going against them is political suicide. Him no wan carry him second term play.

  6. Yoyo

    January 10, 2017 at 9:35 am

    I love Pastor Adeboye as much as the next person however I am of the firm belief that most of these GO’s are amasing too much wealth while doing nothing for their members. Christianity home and abroad has become a get rich quick scheme and Pastors prey on the desperation of their members! The excuse of modern pastors is that this accumulation of wealth is to spread the gospel and if Jesus was here today he will do the same. But I beg to differ, in those days he didnt even have a horse or mule,he lived within his means and catered to the needs of the poor!I dont know how many people these pastors cater for in their congregations but if a pastor is worth millions but has no well known scheme for orphans,widows and the impoverished then something is terribly wrong with this picture. Christianity has ceased to be a charity but has become big business. As though tithing and seed sowing wasnt bad enough the latest is first fruit! One whole months salary!When we all know that Jesus was the ultimate first fruit and made the ultimate first fruit sacrifice.As the new year starts I wonder what new scheme they will think up!
    We should all remember that as Christians no one is perfect,not even our beloved GO’s . Perfection lies only in Christ! God help us all to really learn to know him and love him and understand his word. Not just follow the rules of men!

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