The Financial Reporting Council (FRC) of Nigeria paid a courtesy visit to the Nigerian Governors’ Forum (NGF) on May 29, 2025, to introduce the draft Nigeria Public Sector Governance Code. This strategic engagement is a crucial step in the Council’s nationwide consultation process ahead of the Code’s formal launch later this year.
Led by its Executive Secretary/CEO, Dr. Rabiu Olowo, the Council presented the draft Code, which aims to enhance transparency, accountability, and investor confidence across public sector institutions. In his remarks, Dr. Olowo reiterated the Council’s statutory mandate to enforce financial reporting and corporate governance standards, emphasizing that the draft Code is a landmark initiative specifically designed to address the unique challenges faced by the public sector.
Drawing on the successful implementation of the Nigerian Code of Corporate Governance (NCCG) in 2018, Dr. Olowo explained that the Technical Working Group (TWG) on the NPSGC, established by the Honourable Minister of Industry, Trade and Investment in February 2023, has diligently crafted a governance framework tailored to meet the specific needs of government entities.
Recognizing the NGF’s crucial role as a coalition of Nigeria’s 36 state governors, Dr. Olowo highlighted the Forum’s influence in shaping governance outcomes at the sub-national level. He proposed that the NGF nominate a representative to join the TWG, ensuring active participation and alignment as the Code moves into its final stages of development.
Barr. Danladi I. Kifasi, CFR, OON, mni, former Head of the Civil Service of the Federation and Chairman of the TWG, along with Deputy Chairman Alhaji M. K. Ahmad, OON, provided an overview of the draft Code to the NGF Secretariat. They welcomed constructive feedback and encouraged the Forum to support the adoption of the Code across state-level institutions.
In response, Dr. Abdulateef Shittu, Director-General of the NGF, warmly received the FRC delegation and commended the Council’s proactive leadership. He affirmed that the governance objectives of the FRC align closely with the NGF’s mission to foster policy harmonization and accountability across Nigeria’s states. Dr. Shittu committed to facilitating a formal presentation of the draft Code to the full Forum of Governors and assured the FRC of the NGF’s full support, including prompt feedback on the draft.
The engagement concluded with Dr. Olowo formally presenting a copy of the Draft Nigeria Public Sector Governance Code to Dr. Shittu on behalf of the Council.
The Governance Code is expected to be officially launched in Q4 2025, following comprehensive nationwide stakeholder consultations. This initiative underscores the collaborative effort between the FRC and the NGF to enhance governance standards and accountability within Nigeria’s public sector.
