• Saturday, April 13, 2024
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BusinessDay

Meet Jim Obazee, the man appointed to probe CBN

Jim-Obazee

Jim Obazee is the former Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria.

Jim Osayande Obazee is saddled with the responsibilities of overseeing the setting, monitoring and enforcing financial reporting standards and Corporate Governance practices in both public and private sectors of the Nigerian economy.

Obazee, who was also linked with the implementation of the controversial corporate Governance Code 2016, that made Enoch Adeboye, the general overseer of the Redeemed Christian Church of God (RCCG), to relinquish his position and announce Joseph Obayemi as his successor.

Read also: Tinubu appoints Obaze to probe CBN
The code limits the tenure for heads of religious groups and civil rights organisations to 20 years.

Obazee pushed for the implementation, despite former President Muhammadu Buhari’s objections

The financial standards expert is also responsible for harmonising the activities of relevant professional and regulatory bodies in Nigeria.

In his earlier role, he has been on attachment to Financial Accounting Standards Board (FASB) USA and ASB, Canada. He was the Chairman of the 29th Session of UNCTAD-ISAR and chairman of the committee of the roadmap to the adoption of International Financial Reporting Standards (IFRS) in Nigeria.

Obazee who holds an M.Sc in Accounting, is also a Fellow of the Institute of Chartered Accountants of Nigeria and a member of American Accounting Association.

BusinessDay checks show that Obazee had previously conducted investigations on the Central Bank of Nigeria (CBN).

He also investigated the Bank of Industry (BOI); Zenith Bank of Nigeria Plc; Guaranty Trust Bank Plc and Access Bank Plc.

The financial standards expert served in several Technical Committees, including those on Accounting in the Petroleum Industry, Upstream Activities; Technical Committee on Accounting for Insurance Business; Technical Committee on Accounting for Statement of Cash Flows; Committee on Implementation Guide to Accounting for Leases and Technical Committee on Accounting in the Petroleum Industry – Downstream Activities among others.