From left: Dr Iheanyi Anyahara outgoing Acting ES/CEO, Alhaji Shuaibu Adamu Ahmed, the new ES/CEO, FRC, Ambassador Mariam Katagum, Minister of State, FMITI, Otunba Richard Adeniyi Adebayo, Minister FMITI and Dr. Nasir Sani- Gwazo, Permanent Secretary, FMITI
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo has tasked the newly appointed Executive Secretary of the Financial Reporting Council of Nigeria, FRC, Alhaji Shuaibu Ahmed on enforcing standards in accounting and financial reporting.
The Minister who stated this at the inauguration of the new executive secretary explained that reviewing and supervising professionals in the accounting sector and monitoring of corporate governance financial papers would go a long way in achieving its mandate.
Otunba Adebayo told the new executive secretary to see his appointment as a privilege, based on his past achievements, and ensure landmark achievements during his tenure.
“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 counselled.
Alhaji Shuaibu promised to live up to expectations, noting 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.
The FRC new Executive Secretary listed the areas of priority to include enforcing accounting standards and supervision/collaboration with regulatory supervisory bodies such as SEC, CBN, PENCOM, CAC, NAICOM.