Two days after Pastor Enoch Adeboye reportedly stepped down as the head of the Redeemed Christian Church of God in line with a proposed Corporate Governance Code in Nigeria by the FRCN, President Muhammadu Buhari has approved the immediate removal and the replacement of Jim Obazee, the Executive Secretary of the Reporting Council of Nigeria and the re-constitution of the board.
The Federal Government on Monday suspended the controversial Corporate Governance Code which was issued on October 17, 2016 by the Financial Reporting Council of Nigeria in order to carry out a detailed review of its application. According to his spokesman, Mallam Garba Shehu, the new Council chairman as approved by the President is now Mr Adedotun Sulaiman. The President also approved the appointment of Mr. Daniel Asapokhai as the new Executive Secretary of the Council.
The 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 organisations specified in the FRC Act to nominate members of the board of the council.