Fresh facts emerged on Monday why President Muhammadu Buhari sacked the Executive Secretary of the Financial Regulatory Council of Nigeria, Mr. Jim Obazee, in connection with the implementation of the controversial corporate Governance Code 2016.
According to the PUNCH , Obazee was sacked for disobeying a directive of the Minister of Industry, Trade and Investment, Mr. Okechuckwu Enelamah, that the implementation of the regulation should be suspended.
Buhari had, in a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu, on Monday, approved the immediate removal and the replacement of Obazee.
The President also approved the appointment of Mr. Daniel Asapokhai as the Executive Secretary of the council to replace Obazee
Pastor Enoch Adeboye of the Redeemed Christian Church of God had, on Saturday, stepped down as the overseer of the church in Nigeria in accordance with the governance code of the FRC.
Adeboye, who made the announcement during the church’s annual ministers thanksgiving service, at the Redemption Camp in the Mowe area of Ogun State, said the new regulation would affect clergymen, including Bishop David Oyedepo of the Living Faith Church Worldwide International, aka Winners Chapel; Pastor W. F. Kumuyi of the Deeper Christian Life Ministry and Bishop Mike Okonkwo of The Redeemed Evangelical Mission.
The Christian Association of Nigeria had alleged that the new code was targeted at weakening the church.
According to Punch, a source said that the Presidency found it curious that a regulation, which the Council could not implement during former President Goodluck Jonathan’s administration, was being enforced under Buhari.
“Although the regulation dated back to Jonathan’s administration, why did he fail to implement it and ask the religious leaders to resign? Why did the council wait till the present administration before insisting on its implementation?” the source asked.
Punch also reported that some ministers told Buhari on Monday morning that the gale of resignation that would sweep across the Pentecostal churches in the South would affect his government, as one of them said the ministers reminded the President that the regime could be tagged anti-Christian if action was not taken.
Meanwhile, the Federal Government, on Monday, suspended the controversial Corporate Governance Code, which was issued on October 17 by the FRC stating that the code was suspended in order to carry out a detailed review of its application.
The FRC is one of the parastatals under the supervision of the Ministry of Industry, Trade and Investment and it is responsible for setting and promoting compliance with standards for accounting, financial reporting and auditing in Nigeria.