President Buhari has fired the head of the Financial Reporting Council of Nigeria, FRCN, Jim Obazee.
Obazee’s sack comes barely 48 hours after the agency implemented the law that saw the exiting of Pastor Adeboye as the head of RCCG.
Pastor Adeboye resigned as the GO of the RCCG, but retained oversight of the global arm of the church.
The FRCN rule is established by the Financial Reporting Council, Nigeria, Act No 6, 2011.
The agency is under the supervision of the Federal Ministry of Industry, Trade and Investment.
They are responsible for developing and publishing accounting and financial reporting standards.
These standards are to be observed in the preparation of financial statements of public entities in Nigeria.
The FRCN law falls under three sectors: the private, the public and not-for-profit.
The third sector, the not-for-profit sector, is where all religious bodies in the country fall under.
According to the code, a founder or leader should not take on too many responsibilities in the organization.
The founder may not have an indefinite term in the running of the organization, and is expected to not stay in office for more than 20 years.
On the day Mr. Adeboye’s exit was announced by the church, the cleric criticized the meddling of government in church matters.
“The government has been showing increasing interest in church affairs.
“Unfortunately, for us in RCCG, it might not be very helpful,” Adeboye said.
President Buhari announced the sack of the FRC boss in a statement by his spokesperson, Garba Shehu.
Mr. Obazee is to be replaced by Daniel Asapokhai while a new board, headed by Adedotun Sulaiman was also constituted.
No official reason was given for Mr. Obazee’s sack.