August 8, 2022

The Executive Secretary/CEO, Financial Reporting Council (FRC) of Nigeria, Ambassador Shuaibu Adamu Ahmed addressing distinguished members of the Senate Committee on Trade & Investment during the Committee’s oversight visit to the Council recently.

L-R: Chairman, Senate Committee on Trade & Investment, Senator Francis Adenigba Fadahunsi and the Executive Secretary/CEO, Financial Reporting Council (FRC) of Nigeria, Ambassador Shuaibu Adamu Ahmed during the oversight visit by the Committee to the Council in Lagos recently

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February 5, 2019

FILING REQUIREMENTS AND FINANCIAL OBLIGATIONS OF ENTITIES AND PROFESSIONALS UNDER THE FRC ACT

As part of the efforts to promote sound financial reporting and corporate governance in Nigeria, the Financial Reporting Council of Nigeria wishes to reiterate and draw the attention of all stakeholders, especially preparers and auditors of financial statements of Public Interest Entities (PIEs) in Nigeria, to the filing requirements and financial obligations of entities and professionals under the Financial Reporting Council of Nigeria Act No. 6, 2011 (hereinafter referred to as “the FRC Act”). In particular, Sections 8 (1) (d), 8 (1) (n), 33 (1a, b & c), 41 (2), 58 (3) and 77; as well as the Circular from the Secretary to Government of the Federation (SGF), Ref. No. SGF/OP/I/S.3/IX/547:

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August 19, 2018

L-R: Chairman, Senate Committee on Trade & Investment, Senator Francis Adenigba Fadahunsi; Executive Secretary/CEO, Financial Reporting Council (FRC) of Nigeria, Ambassador Shuaibu Adamu Ahmed; Member, Senate Committee on Trade & Investment, Senator Tolu Adebiyi; and Director, Directorate of Accounting Standards (Public Sector), FRC, Dr. Iheanyi Anyahara during the Committee’s oversight visit to the FRC head office in Lagos recently.

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August 1, 2018

The Executive Secretary/CEO, Financial Reporting Council (FRC) of Nigeria, Ambassador Shuaibu Adamu Ahmed addressing distinguished members of the Senate Committee on Trade & Investment during the Committee’s oversight visit to the Council recently.

L-R: Chairman, Senate Committee on Trade & Investment, Senator Francis Adenigba Fadahunsi and the Executive Secretary/CEO, Financial Reporting Council (FRC) of Nigeria, Ambassador Shuaibu Adamu Ahmed during the oversight visit by the Committee to the Council in Lagos recently

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May 26, 2023

FRC CEO RECEIVES DRAFT NOT-FOR-PROFIT GOVERNANCE CODE

The Technical Working Group (TWG) for the development of the Not-For-Profit Governance Code for the country, which was earlier inaugurated by the Honourable Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, CON on Thursday, February 9, 2023, has presented its draft Code to the Council.

Led by the Chairman of the TWG, Dr. Joe Abah, the Group presented the draft Code to the Executive Secretary/CEO of the Council, Amb. Shuaibu Adamu Ahmed on Friday, May 19, 2023.

Dr. Abah while presenting the draft Code, gave a description of how the Group approached the work, effectively utilizing Committees and technology to drive its processes. He stated that the TWG worked professionally and diligently to produce a constructive and robust Not-For-Profit Governance Code for the country. He lauded the diversity and quality of members of the group and thanked them for their support for a successful outcome.

In his response, FRC’s Executive Secretary, Amb. Ahmed, who received the draft Code with delight, expressed satisfaction with the quality of work and sense of national importance attached to the work by the TWG. He thanked the Chairman and the entire members of the TWG for their passion, selfless service, and timely delivery of the draft Code. He noted that the TWG on Not-For-Profit Code produced the Code with the least cost.

The FRC Boss further added that as customary, the code shall be exposed to the public for comments and reactions from operators, users, and stakeholders of the code, after which it shall be officially released.

With the strategic role of the Not-For-Profit sector in nation building, the Not-For-Profit Governance Code shall ensure higher standards of accountability, governance, transparency and sustainability of Not-For-Profit entities in the country.

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May 10, 2023

FRC Nigeria’s Rules

FRC Nigeria’s Rules 

Download File here 

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April 11, 2023

Some Members of Nigeria’s Adoption Readiness Working Group (ARWG) for Sustainability Reporting …

L-R: Mr. Olakunle Luqman Akintunde, FRC; Mr. Uwadie Oduware, Deloitte; Dr. Iheanyi Anyahara, FRC; Dr. Ndidi Nnoli-Edozien, Board Member, ISSB; Dr. Innocent Okwuosa, Chair, Nigeria Integrated Reporting Committee; Mr. Stanley Aniagbaoso, FRC and Mr. AbdulRasaq Abubakar, FRC, after a session in Lagos on Saturday, April 1, 2023

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March 20, 2023

FRC ORGANISES FREE SEMINAR ON AUDIT REGULATIONS 2020 & OTHER ANCILLARY PUBLICATIONS

The FRC is organising a one-day Free Seminar on Audit Regulation 2020 & Other Ancillary Publications to keep auditors and other assurance services providers fully abreast of the Audit Regulation 2020 and other ancillary publications such as Operational Guidelines for Inspection and Monitoring of Auditors, Transparency Reporting by Auditors, etc.

These documents are vital and prerequisite to the effective implementation of Audit Regulation 2020.

Participation is both online and physical. Details are as follows:

Date:   Tuesday, March 28, 2023

Venue: Radisson Blu Hotel, 38-40, Isaac John St, Ikeja GRA, Lagos.

Time:   10.00am – 3.30pm

Please click on the link below for further details on the programme. https://bit.ly/3FlCbxd

Registration link: https://bit.ly/3Lpfc84 

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