Pursuant to Section 27 (a-g), Section 73, and other relevant provisions of the Financial Reporting Council of Nigeria (FRC) Act, 2011 (as amended), the FRC has developed the Draft Nigerian Actuarial Practice Regulations, 2025. This marks a significant milestone in establishing a robust regulatory framework for the actuarial profession in Nigeria. The document has now been released as an Exposure Draft (ED) for public review and stakeholder engagement.
🎯 Objectives
The primary objectives of the Nigerian Actuarial Practice Regulations, 2025, are to:
- Establish a regulatory framework for actuarial professionals offering services related to financial reporting in Nigeria.
- Ensure compliance with the provisions of the FRC Act, 2011 (as amended).
- Promote ethical and professional standards in actuarial practice.
- Enhance the quality, reliability, and credibility of actuarial input into financial reporting.
👥 Call for Stakeholder Engagement
As part of the FRC’s statutory development process, we invite the following stakeholders to review the Exposure Draft and provide documented comments and feedback:
- Actuarial Professionals
- Relevant Professional Bodies (RPBs)
- Insurance and Pension Firms
- Regulatory Authorities
- Academic Institutions
- Other Interested Stakeholders
📅 Deadline for Submission
All feedback must be submitted on or before Friday, May 30, 2025, to the Financial Reporting Council of Nigeria via email at: actuaries@frcnigeria.gov.ng
📥 Download the Draft
To access the Exposure Draft of the Nigerian Actuarial Practice Regulations, 2025, please download the document using the link below:
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