Minister of Industry, Trade and Investment, Adeniyi Adebayo has tasked the newly appointed Executive Secretary of the Financial Reporting Council of Nigeria (FRC), Alhaji Shuaibu Adamu Ahmed with the need to develop sound accounting and financial reporting standards in accordance with the Act establishing the council.
Adebayo who inaugurated the new executive secretary on Thursday also emphasized the need for the FRC to achieve its mandate as specified in section 8 of the Act by enforcing accounting standards; advising the Federal Government on accounting and financial reporting standards; and maintaining a register of professionals in the accounting sector related to the process of creation of financial reports.
Besides, he asked the council to review and monitor the professionals in the accounting sector, and the monitoring of corporate governance financial papers.
Adebayo told the new executive secretary to see his appointment as a privileged one based on his past achievements, and ensure that he left landmark achievements by the time he leaves office.
“You are therefore expected to discharge your duties in accordance with the rules and regulations laid down in the Act establishing the council and Extant Rules,” he counseled.
Ahmed who said he was prepared to ensure that FRC lived up to expectation under his leadership, noted that the council being the apex regulatory agency for financial reporting and corporate governance in the country, its actions and inactions may make or mar local and foreign investors confidence in the nation’s economy.
He listed the areas of his priority to include enforcing accounting standards, supervision/collaboration with regulatory supervisory bodies such as SEC, CBN, PENCOM, CAC, NAICOM, enforcement,  operations and funding of the council.
On his part, the outgoing Acting ES/CEO, Dr Anyahara welcomed the new CEO and pledged the support of staff and management towards the realisation of the Council’s mandates

FOR INFORMATIONAL PURPOSES ONLY. The content of this Website is made available by the Nigerian Pilot Newspaper Publisher. This Website seeks to facilitate the dissemination of informative, with engaging, and constructive news about events in Nigerian, Africa, and Globally as they happen. The “Distributor” of this Information are the Nigerian Pilot Newspaper and Nigerian Pilot Tv brands of Dom Communication, LLC.

DISCLAIMER: FAKE NEWS PUBLICATION. This Website NigPilot collects information from several Independent Reporters and may contain unauthenticated and/or copyrighted materials the utilization of which has not generally been explicitly approved or authorized by the copyright proprietor. NigPilot with concern to increase in misleading social media publications, please report any Fake, False, or Misleading News to [email protected] for immediate action.

FAIR USE NOTICE. In accordance with THE LAW, the material on this Website is included for informational and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond “fair use,” you must obtain permission from the copyright owner or Nigerian Pilot WEBMASTER. For Nigerian Pilot Newspaper Advert Rates Click Here!