Jim Obazee is a Nigerian accountant, auditor and financial regulator who was recently appointed by President Bola Tinubu as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities. Obazee is known for his controversial decisions and actions as the former Executive Secretary of the Financial Reporting Council of Nigeria (FRC), where he clashed with prominent figures such as former CBN Governor Lamido Sanusi, former Stanbic IBTC Chairman Atedo Peterside and several religious leaders.
Table of Contents
Age and Birthplace
Obazee was born on March 28, 1965 in Lagos, Nigeria. He is currently 58 years old. He is a native of Edo State in the south-south region of Nigeria.
Education and Early Life
Jim Obazee’s educational journey began at St. John’s Primary School in Aroloya, Lagos, before continuing his studies at Children Home School in Ibadan. He pursued his undergraduate studies in the United States, attending Richard J. Daley College in Chicago, followed by Chicago State University, where he earned a Bachelor of Science degree in Accounting in 1979. He furthered his education by obtaining a Master’s degree in Accounting from the University of Lagos in 1984.
Subsequently, he pursued additional studies at Harvard University in the United States, where he achieved a certification in Strategic Financial Analysis for Business Evaluation. In recognition of his accomplishments, he is a fellow of the Institute of Chartered Accountants of Nigeria and holds memberships in the Nigeria Institute of Management and the American Accounting Association.
Wife and Marriage
Obazee is married to Mrs. Elizabeth Omotayo, a lawyer and human rights activist. They have four children together: two sons and two daughters. Their names are Osayande, Osarumwense, Osayuki, and Osarodion. On his Facebook, he posted on 5th June 2022 that he got married.
Jim Obazee WIKI/BIO
| Full name | Jim Osayande Obazee |
| Date of birth | March 28, 1965 |
| State of Origin | Lagos, Nigeria |
| Age | 58 years |
| State of origin | Edo State |
| Marital status | Married |
| Spouse | Elizabeth Omotayo |
| Children | Four (Osayande, Osarumwense, Osayuki and Osarodion) |
| Parents | Osayande Obazee (father) and Esther Obazee (mother) |
| Siblings | Accountant, auditor, and financial regulator |
| Height | 1.75 meters (5 feet 9 inches) |
| Weight | 80 kilograms (176 pounds) |
| Education | BSc. Accounting (Chicago State University), MSc. Accounting (University of Lagos), Certification in Strategic Financial Analysis for Business Evaluation (Harvard University) |
| Profession | Accountant, auditor and financial regulator |
| Social Links | Instagram- #jimobazee Facebook- @jimobazee Source- @Jim_Obazee Homepage- Mcphagwara.com |
Parents and Siblings
Jim Obazee is the son of Mr. Osayande Obazee and Mrs. Esther Obazee. His father was a businessman and his mother was a teacher. He has three siblings: two brothers and one sister. Their names are Victor, Peter, and Helen. In-depth details about his family has never been revealed by this popular man. Later on, we will update things about his family.
Trending News
President Bola Tinubu has appointed Jim Obazee, the former chief executive officer of the Financial Reporting Council of Nigeria (FRCN), as a special investigator tasked with probing the activities of the Central Bank of Nigeria (CBN) and other related entities. This appointment takes effect immediately, and Mr. Obazee is required to report directly to the president.
Having previously investigated the CBN in 2014, Mr. Jim Obazeenow returns as a special investigator, backed by the full support of President Tinubu, granting him greater authority than his previous role as the FRC boss. The investigation commenced promptly after the issuance of a letter dated 28 July 2023, with expectations of providing a weekly progress report to President Tinubu.
As outlined in the president’s letter, Mr. Obazee is tasked with taking swift measures to strengthen the probity of key Government Business Entities (GBEs) and to prevent any leakages in the CBN and related GBEs. Furthermore, he is mandated to present a comprehensive report on public wealth currently held by corrupt individuals and establishments, regardless of whether they are private or public entities. To fulfill this crucial assignment, he will collaborate with relevant security and anti-corruption agencies.
Height, Weight, and Physical Appearance
Obazee is about 1.75 meters (5 feet 9 inches) tall and weighs about 80 kilograms (176 pounds). He has a dark complexion, black hair and brown eyes. He usually wears glasses and dresses formally.
Profession and Career
Obazee started his professional career as an accountant for the American companies Arthur Andersen, Deloitte and GTE Services Corporation. He returned to Nigeria in 1983 and joined Mobil Oil Nigeria as an accountant. He rose to the position of Senior Auditor before leaving the company in 1992.
He entered politics as a Lagos West senatorial candidate in 1992 under the banner of the Social Democratic Party (SDP). He won the election but his tenure was cut short by the dissolution of the Senate by military dictator Sani Abacha in 1993.
Jim Obazee became an activist campaigning for the return of democracy as part of the National Democratic Coalition (NADECO) movement. He also served as a consultant to various public and private organizations on accounting, auditing and financial management issues.
He was appointed as the first Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC) in 2010 by former President Goodluck Jonathan. The FRC is a statutory body responsible for setting accounting, auditing and actuarial standards in Nigeria.
He held this position until January 2017 when he was sacked by former President Muhammadu Buhari over his controversial policies that affected some prominent religious leaders such as Pastor Enoch Adeboye of the Redeemed Christian Church of God (RCCG) and Bishop David Oyedepo of the Living Faith Church Worldwide (Winners Chapel).
He was accused of overstepping his mandate by issuing a code that required religious leaders to retire after 20 years or at age 70, whichever came first. He also suspended some audit firms for alleged professional misconduct.
Jim remained out of public limelight until July 2023 when he was appointed by President Bola Tinubu as the Special Investigator of the Central Bank of Nigeria (CBN) and other related entities.
He was given the mandate to investigate allegations of corruption, mismanagement and leakages in the apex bank and other government business entities. He was also directed to report directly to the president and provide weekly briefings on his progress.
Obazee has since commenced his probe and has invited some former CBN governors such as Sanusi Lamido Sanusi, Godwin Emefiele and Charles Soludo for questioning.
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Achievements and Awards
Obazee has received several awards and recognitions for his contributions to accounting, auditing and financial regulation in Nigeria.
Some of them are:
- The National Productivity Order of Merit Award in 2015 by former President Goodluck Jonathan.
- The Distinguished Alumnus Award by the Chicago State University Alumni Association in 2016.
- The Outstanding Professional Award by the Institute of Chartered Accountants of Nigeria in 2017.
- The Leadership Excellence Award by the African Leadership Magazine in 2018.
- The Integrity Award by the Centre for Anti-Corruption and Open Leadership in 2019.
Net Worth
Obazee’s net worth and earnings from his profession are not publicly disclosed. However, based on his previous positions and current appointment, it can be estimated that he earns a substantial amount of income from his profession.
According to the Revenue Mobilization Allocation and Fiscal Commission (RMAFC), the annual salary of a senator in Nigeria as of 2022 was N12.5 million ($32,000). Assuming he earned the same amount during his tenure as a senator from 1992 to 1993, he would have earned about N25 million ($64,000) in total.
According to the National Salaries, Incomes and Wages Commission (NSIWC), the annual salary of the Executive Secretary of the FRC as of 2022 was N14.6 million ($37,000). Assuming he earned the same amount during his tenure as the FRC boss from 2010 to 2017, he would have earned about N102.2 million ($259,000) in total.
According to the Office of the Secretary to the Government of the Federation (OSGF), the annual salary of a Special Adviser to the President as of 2022 was N16.1 million ($41,000). Assuming he earns the same amount as the Special Investigator of the CBN, he would earn about N48.3 million ($123,000) for a three-year term.
Based on these estimates, Obazee’s total earnings from his profession would amount to about N175.5 million ($446,000). This does not include his earnings from his private consultancy services and other sources of income.