President Muhammadu Buhari has approved the immediate removal of the Executive Secretary of the Financial Reporting Council of Nigeria (FRN), Mr. Jim Obazee, as well as the reconstitution of its board.
The President consequently appointed Mr Adedotun Sulaiman as the new chairman of the council.
Mr 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.
President Buhari has also approved the appointment of Mr Daniel Asapokhai as the Executive Secretary.
Mr Asopokhai is a partner and a financial reporting specialist at the PricewaterhouseCoopers (PWC), Nigeria.
He is also a product of the University of Lagos and the University of Pretoria.
The President has also instructed the Minister of Industry, Trade and Investment, Mr Okechukwu Enelamah, 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 board of their councils.
The directive was contained in a statement issued on Monday by the President’s spokesman, Mr Garba Shehu.