President Muhammadu Buhari has approved the immediate removal and the replacement of the Executive Secretary and the re-constitution of the board of the Financial Reporting Council of Nigeria (FRN).
A statement by his spokesman, Mallam Garba Shehu on Monday in Abuja stated that the new Council chairman as approved by the President is now Mr Adedotun Sulaiman.
The President also approved the appointment of Mr. Daniel Asapokhai as the new Executive Secretary of the Council.
Giving the profile of the new chairman, the statement stated that Mr. Sulaiman was a former Managing Partner/Director of Arthur Anderson and later, Accenture.
He is also a Chartered Accountant and a product of the University of Lagos and Harvard Business School.
Similarly, 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.
The 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.