FRC CEO Unveils New Initiatives to Strengthen Governance at 54th Annual Accountants’ Conference

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Executive Secretary/CEO, Financial Reporting Council (FRC), Dr. Rabiu Olowo, delivering his goodwill message at the 54th Annual Accountants’ Conference

The 54th Annual Accountants’ Conference concluded with a powerful goodwill message from Dr. Rabiu Olowo, Executive Secretary and CEO of the Financial Reporting Council (FRC), who reaffirmed Nigeria’s growing global stature in financial governance and reporting.

Speaking at the closing ceremony, Dr. Olowo highlighted this year’s theme, “Reimagining Governance,” underscoring Nigeria’s alignment with international standards in reporting, assurance, and governance. “We are building on that well-deserved reputation by introducing even higher standards of conduct for Chartered Accountants,” he noted, emphasizing the country’s proactive role in global financial integrity.

Dr. Olowo detailed several key initiatives the FRC has undertaken over the past year, aimed at reinforcing the integrity and transparency of Nigeria’s financial systems. These initiatives include:

New Codes of Governance: The development of updated Codes of Governance tailored for both the Public Sector and the Not-for-Profit Sector, which are designed to enhance accountability and operational transparency.



National Repository for Financial Statements: A first-of-its-kind initiative, the repository, which is set to launch on January 1, 2025, will centralize financial statements, enabling easier access and improving oversight across all sectors.

Sustainability Standards Adoption: The FRC has adopted the International Sustainability Standards Board’s (ISSB) Sustainability Standards, reflecting Nigeria’s commitment to integrating sustainability and corporate responsibility into financial reporting practices.

These efforts, Dr. Olowo remarked, are essential for ensuring that Nigeria remains a leader in financial governance and continues to attract both local and international investment.

The event concluded with remarks from His Excellency Malam Umar A. Namadi, FCA, Executive Governor of Jigawa State, who officially closed the conference. Governor Namadi applauded the participants and organizers for fostering a productive environment that generated fresh insights into the evolving landscape of governance and financial management.

The 54th Annual Accountants’ Conference, marked by insightful sessions and meaningful connections, provided a platform for industry leaders to exchange ideas and strategies to elevate governance standards. The FRC, as a regulatory body, remains committed to upholding public trust and driving Nigeria’s economic growth through robust governance frameworks and regulatory practices.

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