760 Views

Everything About FRC Chairman, Jim Obazee Who Forced Pastor Adeboye To Step Down As RCCG Nigeria G/O

Since his appointment in November 2010, Jim Obazee, who was sacked on Monday, 9th of January by President Muhammadu Buhari, has never showed any discomfort with controversy, as his past life has been brought to the fore.
Jim Obazee, fired as executive secretary of the Financial Reporting Council of Nigeria (FRC) on Monday, is a man of controversies. Since his appointment in November 2010, Obazee never showed any discomfort with controversy.
However, the latest controversy he got himself entangled in – enforcement of the code of corporate governance – might have cost him his job.
In 2015, he was re-appointed as the FRC executive secretary for another term of four years, which will have elapsed in 2018.
He has been accused of many things, including sexual harassment and insubordination.
And he had a frosty relationship with Okechukwu Enelamah, minister of industry, trade and investment, who had directed him to suspend the law, but he refused.
ACCUSED OF SEXUAL HARASSMENT BY HIS PA
Obazee was accused of sexual harassment by one Abimbola Yakubu, his personal assistant of three years, in 2013. But he denied the allegation.
In a letter to the board of the FRC, Yakubu alleged that Obazee had repeatedly threatened to sack her if she did not accede to his amorous gestures.
“For the period of years that I worked with him, I have always been closing as late as 10pm and sometimes beyond. I have been very loyal, committed and dedicated to duty. I have never for one day shown any sign of insubordination. Early this year, I noticed the Executive Secretary’s attitude changed towards me,” she wrote.
“I met with him on several occasions, asking him what I have done wrong but he would not say anything rather, he would yell and scream at me saying all manner of unprintable words like: ‘when I am done with you, you will cry’; ‘when I am done with you, you will hang yourself’. So I withdrew and kept to myself. He continued in this attitude towards me, not relating with me and giving my subordinates my job to do (the things I should be doing).
 
“I close very late at night as a civil servant, not because we really have much work to do, but that’s when he finds it most convenient to talk to me about his love for me. He makes sure everyone has closed and we are left alone in the office to make his demands. I am grateful to God for the kind of husband I married who is very understanding.
 
“Besides, there is no sexual move or plea he made that I did not tell my husband, from the very beginning of the advances. So, my husband is very much aware of the goings on but, he trusts me. Even when I told the Executive Secretary that my husband is aware of his moves he tells me it is not trust, that there is no man who will allow his wife go through such since all men are jealous. He then warned me sternly not to ever mention goings on the office with my husband.
“We have had to travel around the country together to places like, Calabar, Uyo, Enugu, Ibadan, Ijebu-Ode, Abuja and Minna. These were occasions he would have had his way had God not helped me, if I had not been determined to stand firm and if my husband was not solidly behind me. All of the time when we ought to retire back to our hotel rooms he would call me to either come to his room if we are in the same hotel or he would call to tell me he was coming to my room. Other times when we stay in different hotels, like when we are in Abuja, he would call me sometimes very late at night to tell me he was on his way to my hotel.”
She added that Obazee later transferred her to a corner office in Kaduna, where she would “suffer”, and that he eventually sacked her. Despite the allegations, Obazee was not probed. He strongly denied them, saying he sacked Yakubu because she had a history of poor performance at work.
RECOMMENDED THE SACK OF SANUSI
The sack of Sanusi Lamido Sanusi, former Central Bank of Nigeria (CBN) governor, in February 2014, is perhaps, one of the most controversial actions of the FRC under Obazee.
Prior to his sack, Sanusi had made weighty allegations against the government of former President Goodluck Jonathan.
He had alleged that billions of dollars accruable to the federation were being diverted by some persons in the management of the Nigeria National Petroleum Corporation (NNPC).
And in the heat of the storm which followed his allegations, Jonathan relying on a recommendation of the FRC, which accused Sanusi of financial recklessness, sacked him.
After his sack, the FRC began to probe Sanusi, but he shunned several invitations of the council. He later sued the council for defamation of character.
SUSPENDED PETERSIDE
In October 2015, the FRC under Obazee suspended Atedo Peterside as the chairman of Stanbic IBTC. The council cited infractions in the 2013-14 financial statements of the bank as the reason for its decision.
It directed the bank to restate and to re-issue its 2013-14 financial statements. It also imposed a fine of N1bn on the bank.
Besides Peterside, Sola David-Borha, group managing director, Stanbic’s chief finance officer and the audit committee chairman were also suspended.
But in December 2016, the FRC lifted the suspension on the management of the bank.
FORCED ADEBOYE TO STEP DOWN AS RCCG GENERAL OVERSEER
Late 2016, the FRC directed not-for-profit organisations — including churches and mosques — to comply with a corporate governance code stipulating a term of 20 years for heads of such entities.
It was by this provision that Enoch Adeboye, who had spent over 20 years as the general overseer of the Redeemed Christian Church of God (RCCG), named Joshua Obayemi to head the Nigeria church although he emphasised that he remained the worldwide overseer of the church.
But two days after Adeboye stepped down, and in the heat of a caustic controversy, Buhari fired Obazee and approved the reconstitution of the board.
In a statement afterwards, Constance Ikokwu, media aide of Enelamah, said the law had also been suspended in order to review it.
 
“The Corporate Governance Code issued by the Financial Reporting Council of Nigerian has been suspended pending a detailed review, extensive consultation with stakeholders and reconstitution of the board of the FRC,” she said.
Obazee has a bachelor of science degree in accounting from the University of Benin; a master of science degree in accounting from the University of Lagos, and a certification in strategic financial analysis for business evaluation from Harvard University, USA.
He is a fellow of the Institute of Chartered Accountants of Nigeria (ICAN), and a member of the Nigeria Institute of Management (NIM) and the American Accounting Association (AAA).

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Warri-based Cleric, Prophet Jeremiah Fufeyin Poses With His Newly Acquired Private Jet (Photos)
Religion
6 views
Religion
6 views

Warri-based Cleric, Prophet Jeremiah Fufeyin Poses With His Newly Acquired Private Jet (Photos)

MT - May 24, 2018

Prophet Jeremiah Fufeyin, the popular Warri-based clergyman acquired a private jet in March this year and is obviously very proud of it. The prophet took to his…

Super Eagles vs Atletico Madrid: Torres Presented With a ‘Priceless’ Gold Sculpted N1000 (Photos)
Best of Nigeria
8 views
Best of Nigeria
8 views

Super Eagles vs Atletico Madrid: Torres Presented With a ‘Priceless’ Gold Sculpted N1000 (Photos)

MT - May 24, 2018

Europa League Champions, Atletico Madrid on Tuesday evening at the Goodswill Akpabio international stadium in Uyo, Akwa Ibom state, defeated the Super Eagles 3-2 to win the…

Protest In US Over Racial Bias Against Nigerian
Buzz & Trends
8 views
Buzz & Trends
8 views

Protest In US Over Racial Bias Against Nigerian

MT - May 24, 2018

Racial bias against Ms Lolade Siyonbola, a Nigerian graduate student at the Yale University, has prompted Nigerian community in the U.S. to stage a protest. The Organisation…

Concentrate On Environmental Health – Dr. Patrick Ovie Fueta
Food and Health
12 views
Food and Health
12 views

Concentrate On Environmental Health – Dr. Patrick Ovie Fueta

PH - May 24, 2018

Nigeria is blessed with natural resources distributed all over different geographical regions however, it is its citizens, Nigerians, that harness the economic potential from these resources thereby…

This Nigerian Singer, Peter Okoye’s Garage Will Leave You In Awe (Photos)
Entertainment
21 views
Entertainment
21 views

This Nigerian Singer, Peter Okoye’s Garage Will Leave You In Awe (Photos)

MT - May 24, 2018

The garage of Nigerian musician, Peter Okoye aka Mr. P has been profiled by autojosh. He was a member of the defunct Psquare group. This ‘up-coming’ solo…

Google Launches First ‘Impart Challenge’ in Nigeria; Here’s How to Apply to Win Part of $2m Grant
Best of Nigeria
16 views
Best of Nigeria
16 views

Google Launches First ‘Impart Challenge’ in Nigeria; Here’s How to Apply to Win Part of $2m Grant

MT - May 24, 2018

Google on Wednesday launched the Google Impact Challenge (GIC) Nigeria 2018 aimed at empowering the citizens to drive community impact. The Google Country Marketing Manager, Affiong Osuchukwu,…

NUC Releases Names Of Nigerian Universities Approved For Post-graduate Programmes [Full list]
Best of Nigeria
16 views
Best of Nigeria
16 views

NUC Releases Names Of Nigerian Universities Approved For Post-graduate Programmes [Full list]

MT - May 24, 2018

The National Universities Commission (NUC) has released a full list of approved post-graduate awarding institutions in Nigeria A bulletin from the office of the Executive Secretary dated…

6 Times Former Vice President Atiku Showed Loyalty to Arsenal FC
Inspiring
13 views
Inspiring
13 views

6 Times Former Vice President Atiku Showed Loyalty to Arsenal FC

MT - May 24, 2018

Former Vice President of Nigeria, Abubakar Atiku is loyal to a cause - Arsenal FC. Atiku has been bashed by political gladiators and analysts for being not being loyal…

Buhari Is A Weak Leader, See Reasons – Ben Bruce
Politics
14 views
Politics
14 views

Buhari Is A Weak Leader, See Reasons – Ben Bruce

MT - May 24, 2018

Ben Murray-Bruce, the Senator representing Bayelsa East constituency has described President Muhammadu Buhari as a weak leader. Bruce said the Buhari-led administration failed in completing any major…

Pools, Hot Tubs Can Harbor Dangerous Germs
Food and Health
12 views
Food and Health
12 views

Pools, Hot Tubs Can Harbor Dangerous Germs

PH - May 24, 2018

By Steven Reinberg Pools, hot tubs and water playgrounds may be synonymous with summertime fun, but they also can be breeding grounds for dangerous germs that could…

Drug Abuse And Addiction, All You Should Know
Food and Health
15 views
Food and Health
15 views

Drug Abuse And Addiction, All You Should Know

PH - May 24, 2018

by Joseph Goldberg What Is Drug Addiction? Addiction is a disease that affects your brain and behavior. When you’re addicted to drugs, you can’t resist the urge to…

‘I Will Not Be Slaughtered Easily’ – Wike Fires Back At Nigerian Govt.
Buzz & Trends
9 views
Buzz & Trends
9 views

‘I Will Not Be Slaughtered Easily’ – Wike Fires Back At Nigerian Govt.

MT - May 24, 2018

Rivers State Governor, Nyesom Ezenwo Wike has lamented that people were being slaughtered on daily basis across Nigeria because the Federal Government does not care about the…

FLASHBACK: What Former President Obasanjo Said in 2008 on The ‘$16bn’ Allegation
Politics
11 views
Politics
11 views

FLASHBACK: What Former President Obasanjo Said in 2008 on The ‘$16bn’ Allegation

PH - May 24, 2018

In May 2008, former President Olusegun Obasanjo was summoned by the house committee probing the expenditure on power sector between 1999 and 2007 when he was in…

FEC Approves N5.1bn For Osun-Ekiti Road Project
Best of Nigeria
13 views
Best of Nigeria
13 views

FEC Approves N5.1bn For Osun-Ekiti Road Project

MT - May 24, 2018

The Federal Executive Council presided over by President Muhammadu Buhari on Wednesday approved N5.1billion for the rehabilitation of Ila Orangun – Oke Ila – Ilale Aka road…

NGOs And Tax Evasion In Nigeria
Business
13 views
Business
13 views

NGOs And Tax Evasion In Nigeria

PH - May 24, 2018

By Onike Rahaman The recent pronouncement by the Federal Inland Revenue service (FIRS) that the Non-governmental organisations in Nigeria are required by law to discharge tax obligations…

The Federal Republic Of Nigeria – An Overview
Art, History and Culture
12 views
Art, History and Culture
12 views

The Federal Republic Of Nigeria – An Overview

PH - May 24, 2018

from: wikipedia.com Nigeria, officially the Federal Republic of Nigeria, is a federal constitutional republic comprising thirty-six states and one Federal Capital Territory. The country is located in…

Linda Ikeji Is A Bad Role Model And I Am A Mentor, Says Kemi Olunloyo
Entertainment
14 views
Entertainment
14 views

Linda Ikeji Is A Bad Role Model And I Am A Mentor, Says Kemi Olunloyo

MT - May 24, 2018

News personality Dr Kemi Olunloyo reveals more secret about Linda ikeji’s pregnancy and more secret about her. See screenshots below;

5 Smart Things President Buhari Fails To Do On Social Media
Politics
11 views
Politics
11 views

5 Smart Things President Buhari Fails To Do On Social Media

MT - May 24, 2018

Social media - especially Twitter and Facebook - is now the primary way the Nigerian president and his media aides communicate with the people. This move has…

Loading...