FG tasks Financial Reporting Council on accounting standards
On
Kindly Share This Story:
The Federal Government has urged the new Executive Secretary of the Financial Reporting Council of Nigeria (FRCN), Alhaji Adamu Ahmed, to enhance accounting standards in accordance with its Act.
Otunba Adeniyi Adebayo, Minister of Industry, Trade, and Investment, while inaugurating the executive secretary on Thursday in Abuja, urged the FRCN to achieve its mandate as specified in section eight of its Act by enforcing standards.
The minister, in a statement by his Special Assistant on Media, Mr Ifedayo Sayo also charged the council to advise the Federal Government on accounting and financial reporting standards.
The Minister of Industry, Trade and Investment, Otunba Niyi Adebayo
By
Fri May 07 2021
The 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, on the need to develop sound accounting and financial reporting standards in accordance with the Act establishing the council.
The minister, who inaugurated the new executive secretary on Thursday, also emphasised the need for the FRC to achieve its mandate.
He 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 when he leaves office.
Punch Newspapers
Sections
Amarachi Orjiude and Dayo Adenubi
Published 7 May 2021
Amarachi Orjiude and Dayo Adenubi
Published 7 May 2021
The Minister of Industry, Trade and Investment, Adeniyi Adebayo, has charged the newly-appointed Executive Secretary of the Financial Reporting Council of Nigeria, Alhaji Shuaibu Ahmed, to provide good and focused leadership in order to achieve the council’s mandate.
Adebayo gave the charge in Abuja on Thursday while inaugurating Ahmed.
He said, “As the Chief Executive Officer, you have enormous responsibilities.
“You are expected to provide good and focused leadership to achieve the mandate of the council, which is specified in Section 8 of the Act.”
James Emejo in Abuja
The newly appointed Executive Secretary/Chief Executive, Financial Reporting Council of Nigeria (FRCN), Alhaji Shuaibu Ahmed, yesterday said, he is committed to the enforcement of accounting standards, supervision and collaboration with regulatory supervisory bodies including the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN) and the National Pension Commission (PenCom).
He also listed the Corporate Affairs Commission (CAC) and National Insurance Commission (NAICOM) as other priority institutions to be assessed during his regime.
He spoke during his inauguration by the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, in Abuja.
The minister, had earlier tasked the FRCN boss on the need to develop a sound accounting and financial reporting standards in accordance with the Act establishing the council.
By James Emejo
The newly appointed Executive Secretary/Chief Executive, Financial Reporting Council of Nigeria (FRCN), Alhaji Shuaibu Ahmed, Thursday said he is committed to the enforcement of accounting standards, supervision and collaboration with regulatory supervisory bodies including the Securities and Exchange Commission (SEC), Central Bank of Nigeria (CBN) and the National Pension Commission (PenCom).
He also listed the Corporate Affairs Commission (CAC) and National Insurance Commission (NAICOM) as other priority institutions to be assessed during his regime.
He spoke during his inauguration by the Minister of Industry, Trade and Investment, Mr. Niyi Adebayo, in Abuja.
The minister had earlier tasked the FRCN boss on the need to develop a sound accounting and financial reporting standards in accordance with the Act establishing the council.