Nigeria has once again affirmed its leadership in advancing global financial and sustainability reporting standards as the Executive Secretary/CEO of the Financial Reporting Council of Nigeria (FRC), Dr. Rabiu Olowo, on Wednesday, 12 November 2025, formally concluded his tenure as Chair of the 41st Session of the United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) at the United Nations Palais des Nations in Geneva, Switzerland.
The ceremony which is marked by the conduct of the elections and formal handover of the ISAR Chairmanship, constitutes the conclusion of a record milestone of remarkable achievements.
Dr. Olowo’s emergence and successful tenure as Chair of UNCTAD-ISAR stand as a historic milestone of leadership at that level of global corporate reporting discourse. His exemplary performance not only elevated Nigeria’s visibility within the United Nations system but also demonstrated the country’s capacity for thought leadership in financial and sustainability reporting. By delivering excellent results and upholding the highest standards of professionalism, younger professionals can aspire to and excel in similar international roles, reinforcing the message that competence, integrity, and dedication can position Nigeria prominently on the global stage.
In his address, Dr. Olowo described the past year as one of the most productive and strategically impactful in ISAR’s recent history, noting progress in global coordination, technical standard-setting, and capacity support to developing economies. He stated that the outcomes achieved during the period have set a new benchmark for future Chairs of ISAR.
During his tenure, ISAR advanced work across financial reporting, sustainability disclosures, ethics and assurance frameworks, digital reporting innovations, and MSME reporting development. He highlighted strengthened cooperation with international standard-setters such as ISSB, EFRAG, and IESBA, as well as improvements in the adoption of UNCTAD’s sustainability reporting taxonomy.
Dr. Olowo also cited Nigeria’s completion of a national corporate reporting assessment using the UNCTAD Accounting Development Tool (ADT), alongside the training of 59 professional accountants to support MSME reporting nationwide, a model now being referenced for adaptation in other developing jurisdictions.
He recalled representing ISAR at the UN ECOSOC Coordination Segment in New York, where ISAR contributed input to UN policy discussions on financing sustainable development, thereby strengthening ISAR’s visibility across the UN system.
He expressed confidence that the 42nd Session will consolidate progress and expand work into emerging areas including biodiversity, human capital, and digital transformation.
No Comment! Be the first one.