Unic Press UK: President Buhari has removed from office J O Obazee, who is the chief executive officer cum executive secretary of the Financial Reporting Council of Nigeria (FRC). Many believe his sack had links to the sudden exit of Enoch Adeboye as the general overseer of the renowned Redeemed Christian Church of God (RCCG). Adeboye stepped down on Saturday.
The full text on Obazee’s sack as announced on Monday, the 9th January 2017, by the senior special assistant to the Nigerian president on media and publicity, Garba Shehu, reads:
President Muhammadu Buhari has approved the immediate removal and the replacement of the Executive Secretary and the reconstitution of the board of the Financial Reporting Council of Nigeria (FRN). He has appointed a Chairman and a new Executive Secretary for the council.
The new Council as approved by the President has Mr Adedotun Sulaiman, MFR as Chairman.
Mr. Sulaiman was 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 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 (PWC), Nigeria.
He is a product of 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.
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Obazee’s sack, happening barely two days’ after the general overseer of the Redeemed Christian Church of God (RCCG), Enoch Adeboye announced a new general overseer for the RCCG, has raised a lot of conundrums/questions.
Adeboye, who seems to have reacted angrily to his exit as the general overseer had accused the Nigerian government of interfering with the affairs of religious organisations.
A perusal of the “Not-For-Profit Organisations Governance Code 2016” is presented herein:
Section 9 (9.2): Where for any reason, a Founder or Leader of NFPO also occupies any of the three governance positions of Chairmanship of the Board of Trustees, the Governing Board or Council, and the Headship of the Executive Management (or their governance equivalents), the following provisions shall apply before the end of the organization’s financial year in which this Code takes effect.
Section 9 (9.2.1): The Founder or Leader shall cease to occupy these three governance positions simultaneously. This is to ensure the separation of powers and avoid possible concentration of powers in one individual.
Section 9 (9.2.2): The Founder or Leader may however choose – subject to the agreement of the organization’s apex authority as expressed in the Annual General Assembly, Annual Meeting, Annual Stakeholder Engagement, Annual Conference, Annual Synod, Annual Fellowship Assembly or their equivalents – only one of these three governance positions subject to his current tenure. This is to ensure a clear division of responsibilities at the head of the organization between the running of the governing body and the executive responsibility for the management and fulfilment of the organization’s mission.
Enoch Adeboye was born on 2nd March 1942. He is 74-years-old. He became the general overseer of the Redeemed Christian Church of God in 1981. This means that he had spent circa thirty-six years as the leader of RCCG.
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