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Jim Obazee
United States
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Jim Obazee is a visionary leader and the current chief executive officer at the Financial Reporting Council of Nigeria.

Jim Obazee is an expert in accounting and the current chief executive officer at the Financial Reporting Council in Nigeria. Over the years, Mr. Obazee has played an integral role in the development and application of accounting standards in his home country. He has also served on a variety of committees that are focused on improving financial reporting in all agencies associated with the Nigerian economy.

A pioneer in the field of accounting

When it comes to accounting, Jim Obazee has always remained on the cutting edge of his field. He is dedicated to staying informed about any recent developments in the financial world.

Using technology to streamline government financial agencies

Jim greatly benefited the Nigerian government when he urged officials to begin using modern technology to complete their accounting work. Before Obazee made this ingenious suggestion, most national financial agencies in Nigeria were still completing a majority of their bookkeeping by hand. By updating his country’s accounting system with the addition of computer programs and other forms of specialized technology, Obazee helped government accountants to complete their work more accurately and efficiently.

The importance of government accounting agencies

Government accounting agencies serve a variety of important functions. First of all, these agencies ensure that the government is spending money wisely. In addition, they also seek to encourage transparency and fair business practices at large corporations and financial institutions. Without enlisting the help of government accounting agencies, it would prove much more difficult for countries to effectively run their other departments.

Jim Obazee is quite possibly one of the most accomplished and influential accounting professionals in the entire country of Nigeria. With extensive professional experience and comprehensive industry knowledge, Mr. Obazee knows his business. For many years, he has served as the head of several important financial departments in his homeland. Throughout his career, he has worked hard to help the Nigerian government to set standards for best practices in accounting. Obazee’s colleagues often describe him as a visionary. They admire both his dedication and his willingness to explore new methods of accounting.

Exceling at his studies

Even when he was merely a boy, Jim Obazee was very dedicated to his studies. As a young man, he clearly understood that if he wanted to make something of himself, he would have to earn good grades and excel academically. After thoroughly applying himself to his subjects in high school, he was accepted to the University of Benin to study accounting. After earning a Bachelor of Science degree, Mr. Obazee felt anxious to begin his new career. Even though he was ready to get to work at the time, he felt that it was best for him to continue his education. After earning a master’s degree in accounting from the University of Lagos, he was already an expert in accounting practices.

Continuing his education yet again at Harvard University

Even though Mr. Obazee had already developed an impeccable grasp of accounting practices after completing more than one college degree in the subject, he decided that it was time to continue his education yet again. This time, he enrolled at the world renowned Harvard University, where he earned a certificate in strategic financial analysis for business evaluation. The time that Mr. Obazee spent at Harvard University would prove incredibly helpful. It was at this institution that he truly cemented his understanding of accounting.

Putting his years of education to good use

Jim Obazee currently works as an executive secretary and a chief executive officer for the Financial Reporting Council of Nigeria. He embarked upon his distinguished career in 1993 when he got a job as the senior manager and the head of the technical department of the Nigerian Accounting Standards Board. In November of 2010, Jim was promoted to the position of chief executive officer of the board.

Jim Obazee uses his writing talents

Over the years, Jim has acquired a wealth of knowledge in his particular field. Luckily, he has chosen to use his writing talents to publish papers on a variety of subjects related to accounting and corporate transparency. Mr. Obazee feels much honored to have had the opportunity to combine his love of the written word with his fascination for accounting in the writing of these works. His papers have appeared in many national and local publications in his home country.

Sharing his knowledge with students

Although Jim is renowned for his leadership skills and his remarkable knowledge of accounting principles, he is also a gifted educator. In fact, from 1990 until 1993, Mr. Obazee held a lecturer in accounting position at the University of Benin. As an instructor, he was very grateful to have the opportunity to impart his knowledge onto curious, young students. In addition, Obazee found that his pupils inspired him to think even more deeply about the fundamentals of accounting.

Modernizing accounting practices for the Nigerian government

Until Jim Obazee arrived on the scene, most government agencies in Nigeria were still completing their accounting work manually. This process wasted inordinate amounts of time and cost the government quite a lot of money. Ever the visionary, Mr. Obazee encouraged the Nigerian government to use modern technology to make the process of accounting much more efficient. Today, Jim's idea has completely revolutionized financial practices in his home country.

Fighting for corporate transparency

One issue that he has fought very hard for throughout his career is corporate transparency. Like many financial minds around the world, he believes that large companies have a responsibility to the general public to make their fiscal practices known. It is Mr. Obazee’s great hope that more corporations will adopt more socially responsible business practices both in his country and the rest of world in the very near future.

In order to stay in touch with many respected professionals in the world of accounting, he belongs to several accounting organizations. At present, he is a professional member of the Nigerian Institute of Management and of the American Accounting Association. Jim Obazee is also a fellow of the Institute of Chartered Accountants of Nigeria. Through the experience of joining these esteemed groups, Jim has fostered valuable professional relationships with many of his colleagues. Remaining a part of these groups also keeps Mr. Obazee in the know about all of the latest issues in global finance.

Taking care of personal finances

One of the best things one can do to take better care of their personal finances is to remain organized. By keeping all receipts, bills, and important financial documents in a safe place, one can easily access them when in need. In addition, this will also prevent identity thieves from stealing personal financial information and using it to falsely open a new line of credit.

The importance of safeguarding personal finances

When discarding bills or any other financial documents, it is very important to use a paper shredder before doing so. This will prevent any unscrupulous individuals from stealing personal information.

When Jim is not working or completing works on the subject of accounting practices and corporate transparency, he loves nothing more than spending time with his wife Elizabeth and his two children, Naioth and Bethlehem. Whenever he has had a hard day at work, his loved ones are always there to show their love and support. Jim Obazee considers himself very lucky to have a family who cares for him so much.

In the near future, Jim Obazee plans to continue fighting for increased corporate transparency in his country. Through his many years of experience in accounting, he has learned that the key to improving the quality of life for all citizens of Nigeria is by ushering in a culture of transparency and financial responsibility.

Spending time with his family

Jim Obazee is incredibly dedicated to his family. Whenever he has the opportunity to spend some quality time with Elizabeth, Bethlehem, and Naioth, he always enjoys their company. No matter what, he is sure to remain involved in the lives of his loved ones.

The future of accounting practices

Although Mr. Obazee is accustomed to dealing with very complicated financial matters, much of the wisdom that he has acquired through the years can prove useful in everyday situations. With this in mind, it is very important that all individuals pay close attention to their personal finances.

Saving receipts and financial statements whenever possible

One of the best things that anyone can do to ensure their own financial integrity is to save their receipts, bills, and account statements. It is always a good idea to keep these items in a safe place. Even if one opts to store a majority of their financial information on their computer, saving receipts will leave behind a paper trail that could prove useful in the event of a fire or a natural disaster.

Protecting your identity

Jim Obazee advocates that one of the best ways to protect your identity from criminals is to use a paper shredder to destroy any unwanted documents that contain personal information.

Education
Core Competencies
  • FASB
  • GAAP
  • FIFO
  • LIFO
  • 1099's
  • Taxes
Greatest Attributes

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Greatest Business Achievements

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Worst Failures in Business

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