Pastor Adeboye during the church's Ministers thanksgiving, announced his retirement as the General Overseer of the church only in Nigeria following a new law that disallows leaders of a non-profit organization, churches inclusive, to remain in office for more than 20 years.
Although the law was enacted in 2011, it had not been implemented by any administration. Obazee is said to have had a clash with the Minister of Industry, Trade and Investment, Okechukwu Enelemah, after he went ahead with the enforcement of the law despite the minister's position that the law should not be enforced.
The sack of the council boss is contained in a statement signed by Shehu Garba.
President Muhammadu Buhari has approved the immediate removal and the replacement of the Executive Secretary and the reconstitution of the board of the Financial Reporting Council of Nigeria (FRN). He has appointed a Chairman and a new Executive Secretary for the council.
