FG inaugurates 23-member board of FRC

The Federal Government has inaugurated the 23-member board of the Financial Reporting Council of Nigeria (FRC). Inaugurating the board in Abuja, yesterday, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said it would help restore full board oversight to the council and thereby enable the organisation to carry out its mandates more effectively. […]

The Federal Government has inaugurated the 23-member board of the Financial Reporting Council of Nigeria (FRC).

Inaugurating the board in Abuja, yesterday, the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, said it would help restore full board oversight to the council and thereby enable the organisation to carry out its mandates more effectively.

There are three statutory committees of the board and the number of meetings of board of parastatals is restricted to a maximum of four times a year.

Recall that January, President Muhammadu Buhari appointed Mr Adedotun Sulaiman and Mr Daniel Asapokhai as Chairman and Executive Secretary/CEO of the council respectively. 

Both are expected to work with the reconstituted board to chart a new direction for FRC towards effective and efficient delivery of the council’s mandates

“Today’s event is significant, given the critical role of the FRC in ensuring that economic agents in Nigeria produce and publish high quality financial information that underpin the efficient working of our capital markets and indeed the overall economy,” the minister said.