Financial Reporting Council of Nigeria

Financial Reporting Council of Nigeria To bring utmost confidence to investors, reputation to oversight and ensure quality in accounting, a Protect investors and other stakeholders interest.

2.

Vision:
To be the conscience of regulatory assurance in financial reporting and corporate governance in Nigeria

Mission:
To bring utmost confidence to investors, reputation to oversight and ensure quality in accounting, auditing, actuarial, valuation and corporate governance standards and non-financial reporting issues. The Council’s main objects, as defined in the FRC Act, are to:

1. Give guid

ance on issues relating to financial reporting and corporate governance to professional, institutional and regulatory bodies in Nigeria.

3. Ensure good corporate governance practices in the public and private sectors of the Nigerian economy.

4. Ensure accuracy and reliability of financial reports and corporate disclosures, pursuant to the various laws and regulations currently in existence in Nigeria.

5. Harmonise activities of relevant professional and regulatory bodies as relating to corporate governance and financial reporting.

6. Promote the highest standards among auditors and other professionals engaged in the financial reporting process.

7. Enhance the credibility of financial reporting; and
improve the quality of accountancy and audit services, actuarial, valuation and corporate governance standards.

Through its Nigerian Actuarial Development Programme (NADP), the Financial Reporting Council of Nigeria (FRC) engaged st...
02/06/2026

Through its Nigerian Actuarial Development Programme (NADP), the Financial Reporting Council of Nigeria (FRC) engaged students of CMS Grammar School, Bariga, Lagos, in a sensitisation outreach themed *"Catch Them Young: Building Capacity for Actuarial Excellence in Nigeria."*

Speaking during the session, Mr. Harris Oshojah, FCA, Assistant Director and Head of the Directorate of Actuarial Standards at the FRC, highlighted the urgent need to build actuarial capacity in Nigeria, noting that despite a population of over 200 million people, the country has fewer than 30 certified actuaries. He stated: *“The demand for actuaries is both local and global, and Nigeria needs to develop the required capacity to meet this demand.”*

Delivering a keynote address titled *"Who Are the Actuaries?"*, Professor Ismaila Adeleke, Head of the Department of Insurance and Actuarial Science, University of Lagos, described actuarial science as *“the application of mathematics, statistics, and financial principles to assess and manage risk.”*

Also speaking, Mr. Olasunkanmi Ayinde, Assistant Director and Head of the Directorate of Auditing Practices Standards at the FRC, emphasised the importance of informed career choices and strategic planning, encouraging students to explore opportunities in emerging and high-demand fields such as actuarial science.

By inspiring young minds today, the FRC is helping to build a pipeline of future professionals equipped to strengthen Nigeria’s Financial Reporting ecosystem.

The Financial Reporting Council of Nigeria (FRC) invites stakeholders to a consultative engagement on the Draft Nigerian...
01/06/2026

The Financial Reporting Council of Nigeria (FRC) invites stakeholders to a consultative engagement on the Draft Nigerian Actuarial Practice Regulations (NAPR) 2026.
📍 Tuesday, 30 June 2026 | Lagos Continental Hotel, Victoria Island, Lagos
🕙 10:00 a.m.
Be part of shaping Nigeria’s actuarial regulatory future.

29/05/2026

What is the National Audit Register and why does it matter?

The National Audit Register is the official database of recognized and approved audit firms and assurance service providers. It serves as a trusted reference point for investors, institutions, regulators, and the public — promoting transparency, credibility, and accountability within the auditing profession.

As a globally recognized standard, the register helps strengthen confidence in financial reporting and professional audit practices.

In this video, Olasunkanmi Mufutau Ayinde, Assistant Director, Directorate of Auditing Practices Standards, explains everything you need to know about the National Audit Register from its history, purpose, and why it plays a critical role in building trust across the financial reporting ecosystem.

The Financial Reporting Council of Nigeria wishes you and your loved ones a joyful and peaceful Eid-el-Kabir.May this se...
27/05/2026

The Financial Reporting Council of Nigeria wishes you and your loved ones a joyful and peaceful Eid-el-Kabir.

May this season of sacrifice and reflection bring happiness, abundant blessings, and lasting prosperity to every home.

Eid Mubarak.

Photo News: L–R: Mr. Oladele Joseph Oladejo, Head, Strategic Projects Department, FRC; Mr. Olasunkanmi Ayinde, Assistant...
26/05/2026

Photo News: L–R: Mr. Oladele Joseph Oladejo, Head, Strategic Projects Department, FRC; Mr. Olasunkanmi Ayinde, Assistant Director/Head, Directorate of Auditing Practice Standards, FRC; Professor Ismaila Adeleke, Head of Department, Insurance and Actuarial Science, University of Lagos; Associate Professor (Mrs.) Adeola K. Banjo, Head of Department, Insurance and Actuarial Science, LASUSTECH; Mr. Harris Oshojah, Assistant Director/Head, Directorate of Actuarial Standards, FRC; Mrs. Isiguzo Florence, Directorate of Actuarial Standards, FRC; Principal Mrs Oluwatoyin Agbooola, Vice principal Mrs Olubukola Karunwi and The Student executives of LASUSTECH International Secondary School at the FRC’s Nigerian Actuarial Development Programme (NADP) Advocacy Outreach, themed “Catch Them Young Initiative: Building Capacity for Actuarial Excellence in Nigeria,” held at LASUSTECH International Secondary School, Km 7, Sagamu Road, Ikorodu, Lagos, on Monday, May 25, 2026.

Dr. Rabiu Olowo, Executive Secretary/CEO of the Financial Reporting Council of Nigeria (FRCN), joined key leaders of Nig...
26/05/2026

Dr. Rabiu Olowo, Executive Secretary/CEO of the Financial Reporting Council of Nigeria (FRCN), joined key leaders of Nigeria’s financial sector at the 80th meeting of the Financial Services Regulation Coordinating Committee (FSRCC), held at the Central Bank of Nigeria (CBN) Headquarters in Abuja on Monday, May 25, 2026.

The meeting, which brought together top regulators to strengthen financial system stability, featured participation from Mr. Olayemi Cardoso, Governor of the CBN; Mr. Olusegun Ayo Omosehin, Commissioner for Insurance/CEO of NAICOM; Dr. Thompson Sunday, Managing Director of NDIC; Dr. Emomotimi Agama, Director-General of SEC; Ms. Omolola Oloworaran, Director-General of PenCom; Ms. Amina Ado, representing the Executive Chairman of the Nigeria Revenue Service (NRS); Mr. Justin Nidiya, representing the Registrar-General of CAC; and Dr. Ali Mohammed of the Federal Ministry of Finance.

On Wednesday, 21st May 2026, the Financial Reporting Council of Nigeria (FRC), through the Nigerian Actuarial Developmen...
24/05/2026

On Wednesday, 21st May 2026, the Financial Reporting Council of Nigeria (FRC), through the Nigerian Actuarial Development Programme (NADP), held a sensitisation outreach at Babs Fafunwa Millennium Secondary School, Lagos, themed “Catch Them Young Initiative: Building Capacity for Actuarial Excellence in Nigeria.”

With fewer than 30 certified actuaries serving over 200 million Nigerians, the FRC says the country urgently needs more professionals in the field. Addressing students, Harris Oshojah, Head of the Directorate of Actuarial Standards, noted: "We are here to sensitise students about the need for actuarial science as a course because presently there is an acute shortage of actuaries in Nigeria. A lot of students are not aware that there are enormous opportunities embedded in actuarial science."

Mr. Olasunkanmi Ayinde, Head of the Directorate of Auditing Practice Standards, also noted that actuarial professionals are among the highest-paid experts globally. He urged students not to be discouraged by the rigour of the professional examinations, emphasizing that “nothing worthwhile comes easy. However, with determination and the right support system, success is achievable.”

Stanley Aniagbaoso, Ag. Head of the Directorate of Inspections and Monitoring at the Financial Reporting Council of Nige...
20/05/2026

Stanley Aniagbaoso, Ag. Head of the Directorate of Inspections and Monitoring at the Financial Reporting Council of Nigeria, makes a compelling case for why the FRC's work extends beyond Public Interest Entities. From proportionate standards to certification frameworks, the Council is taking deliberate steps to build a more resilient, trustworthy SME ecosystem overall. When SMEs thrive, Nigeria thrives. In another post, we’ll highlight the specific efforts the Financial Reporting Council is making to aid the development of SMEs in Nigeria.
Read and share your thoughts.

In furtherance of the Council’s mandate to promote integrity, accountability, and exemplary leadership, the Executive Se...
18/05/2026

In furtherance of the Council’s mandate to promote integrity, accountability, and exemplary leadership, the Executive Secretary/CEO of the Financial Reporting Council of Nigeria, Dr. Rabiu Olowo, alongside senior management staff, participated in the National Institute for Policy and Strategic Studies (NIPSS) Integrity and Leadership Executive Course.

The delegation included the Coordinating Director, Directorates of Corporate Governance and Inspections & Monitoring, Mr. Titus Osawe; Director, Directorate of Accounting Standards (Private Sector), Mr. Kabiru Musa Jemaku; and Director, Board Secretary/General Counsel & Head, HR, Mrs. Ezinwanne Ilodibe-Nnoruka.

At the end of the programme, they were inducted as Integrity and Leadership Ambassadors, reinforcing the Council’s commitment to ethical leadership, institutional excellence, and national development.

The Financial Reporting Council of Nigeria was honoured to participate in the ESG & Sustainability Roundtable hosted by ...
04/05/2026

The Financial Reporting Council of Nigeria was honoured to participate in the ESG & Sustainability Roundtable hosted by the Chartered Institute of Directors Nigeria on 23 April 2026, under the theme: “Strengthening ESG Leadership to Advance Sustainable Development, Institutional Resilience, and Responsible Economic Growth.”

The Executive Secretary/Chief Executive Officer was represented by Stanley Aniagbaoso, Ag. Head, Directorate of Inspection and Monitoring, who delivered a goodwill message on behalf of the Council.

The engagement underscored the growing importance of Environmental, Social, and Governance (ESG) considerations as a core element of governance, risk management, and long-term value creation. It also highlighted the increasing demand for credible, consistent, and decision-useful sustainability disclosures, particularly in line with evolving global frameworks such as the IFRS Sustainability Disclosure Standards.

Importantly, it was emphasised that while standards and frameworks are critical, they are not sufficient on their own. Achieving meaningful impact will require strong leadership, institutional commitment, and sustained collaboration across stakeholders.

The Council reaffirmed its commitment to promoting high-quality financial and sustainability reporting, strengthening corporate governance, and fostering transparency and accountability in the public interest.

Address

4th And 5th Floors, Alexander House Plot 8, Otunba Jobi Fele Way (By Japaul House) Alausa Central Business District Ikeja
Lagos
100212

Opening Hours

Monday 08:00 - 16:00
Tuesday 08:00 - 16:00
Wednesday 08:00 - 16:00
Thursday 08:00 - 16:00
Friday 08:00 - 16:00

Telephone

+2349088999819

Website

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