The President of the Federal Republic of Nigeria, President Muhammadu Buhari relieved the Executive Secretary of the Financial Reporting Council of Nigeria (FRCN), Mr. Jim Obazee, of his duties yesterday.

He also ordered the reconstitution of the council.

The Senior Special Assistant to the President on Media and Publicity, Garba Shehu made this known in a statement. The sacking came two days after Pastor Enoch Adeboye of the Redeemed Christian Church of God (RCCG) stepped down as the General Overseer (GO) of the church in Nigeria based on a law by the FRCN, guardian.ng reports.

The statement by Shehu 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 new Chairman and a Executive Secretary for the council. The new Council as approved by the President has Mr. Adedotun Sulaiman as Chairman. Sulaiman is 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 statement added: “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.

“Buhari has also instructed the Minister of Industry, Trade, and Investment to invite the 19 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.”

The Minister of Industry, Trade and Investment, Okechukwu Enelamah, it was learnt at the weekend, had written to the erstwhile FRCN boss, directing him to suspend the implementation of the controversial regulation in the wake of the controversies arising from Pastor Adeboye’s announcement of a new leadership for the church in Nigeria.

It was further learnt that though the minister’s letter to the FRCN boss was written on October 17, 2016, the council had insisted on the resignation of heads of other affected groups.

But sources said Obazee had defied the instruction of the minister, insisting that the implementation of the regulation would go ahead. According to him, the implementation of the regulation could not be suspended because there was no gazette that indicated that it had been amended or suspended, guardian.ng reports.