President Muhammadu Buhari has removed from office the Executive Secretary of the Financial Reporting Council of Nigeria, Jim Obaze.
Buhari also dissolved the board of the council, and suspended the National Code of Corporate Governance 2016, which forced the General Overseer of the Redeemed Christian Church of God, Pastor Enoch Adejare Adeboye, to announce an overseer to run the Nigerian chapter of the church.
The suspension of the code, according to the Presidency, is to allow for extensive consultations with the major stakeholders.
President Muhammadu Buhari 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.
Pastor E.A. Adeboye only last week announced that he was quitting as the General Overseer of the Redeemed Christian Church of God in Nigeria as a result of provisions of National Code of Corporate Governance 2016 issued by the council.
Meanwhile, Buhari has appointed Adedotun Samuel to head the council, while Daniel Asapokhai is named as a replacement for the sacked Executive Secretary of the council.
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