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FRC Under Dr. Rabiu Olowo: A Year of Transformation and Impact
The appointment of Dr. Rabiu Olowo as the Executive Secretary and Chief Executive of the Financial Reporting Council (FRC) of Nigeria has ushered in a new era of growth and innovation within the Council.
Dr. Olowo’s transformation agenda, known as “DOSE”—which stands for Digitisation, Operational Excellence, Stakeholder Engagement, and Enforcement, aims to establish the FRC as a leader in the global financial reporting landscape while ensuring balanced growth across its operations. One year into this transformative journey, the impact of Dr. Olowo’s leadership is evident across all directorates of the Council.
The FRC’s initiatives have garnered significant attention from both local and international stakeholders, showcasing its commitment to advancing best practices in financial reporting, auditing, and corporate governance in Nigeria.
Here are some of the key achievements of the FRC over the past 12 months, reflecting its dedication to excellence and innovation in the financial sector.
Click here to read the key achievements
FRC’s CEO Emphasizes Nigeria’s Global Governance Reputation at 54th Annual Accountants’ Conference
During the Closing Ceremony of the 54th Annual Accountants’ Conference which held on Thursday, October 10, 2024, at the Abuja Continental Hotel, Abuja, the ES/CEO of the Financial Reporting Council, Dr. Rabiu Olowo, delivered a memorable goodwill message
In his message, Dr. Olowo emphasized the theme of this year’s conference, “Reimagining Governance”, highlighting Nigeria’s respected position globally for its alignment with international standards in reporting, assurance, and governance. He affirmed, “We are building on that well-deserved reputation by introducing even higher standards of conduct for Chartered Accountants.”
Over the past year, the FRC has demonstrated its commitment to fair and proportionate regulation, focusing on improving reporting, audit quality, and governance. Dr. Olowo outlined key initiatives undertaken by the Council, including the development of new Codes of Governance for both the Public Sector and the Not-for-Profit Sector, the establishment of a National Repository for Financial Statements (set to launch on January 1, 2025), and the adoption of the ISSB’s Sustainability Standards.
The event was officially closed by H.E. Malam Umar A. Namadi, FCA, Executive Governor of Jigawa State, marking an extraordinary conference filled with impactful sessions and invaluable connections.
The FRC remains dedicated to serving the public interest and supporting Nigeria’s economic growth through high standards of governance.
ICSAN Confers Honorary Fellowship on FRC Boss
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) has honored Dr. Rabiu Olowo, Executive Secretary/Chief Executive Officer of the Financial Reporting Council of Nigeria (FRC), with an Honorary Fellowship Award. The award was presented by ICSAN President/Chairman of Council, Mrs. Funmi Ekundayo, FCIS, at the ICSAN 2024 Annual Dinner/Awards held yesterday at the MTN Plaza, Ikoyi, Lagos.
According to Mrs. Ekundayo, the award recognizes Dr. Olowo’s exceptional leadership, entrepreneurial, and administrative skills, as well as his commitment to promoting good governance in Nigeria. Dr. Olowo expressed gratitude for the recognition, acknowledging it as a personal challenge to continue serving the council and the nation diligently.