FRC wins UNCTAD-ISAR ‘Leadership in Sustainability Reporting’ award
The Financial Reporting Council of Nigeria (FRC) has received the prestigious International Standards on Accounting and Reporting (ISAR) Honours from the United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Working Group of Experts on Accounting and Reporting. Interestingly, Nigeria was the only African country that was honored by the global body. The feat was […]
The Financial Reporting Council of Nigeria (FRC) has received the prestigious International Standards on Accounting and Reporting (ISAR) Honours from the United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Working Group of Experts on Accounting and Reporting.
Interestingly, Nigeria was the only African country that was honored by the global body.
The feat was in recognition of Dr. Rabiu Olowo-led Council’s exceptional leadership, groundbreaking reforms, and transformative contributions to advancing sustainability reporting and corporate transparency in Nigeria.
The award was presented to the Council during the ISAR Honours Celebration, which took place as part of the 42nd Session of the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), held at the Palais des Nations, Geneva, Switzerland.
Nigeria was awarded based on the FRC’s leadership in developing a credible and globally aligned sustainability reporting framework, its multi-stakeholder engagement through the Adoption Readiness Working Group (ARWG), and its successful implementation of national reforms that positioned sustainability disclosure as a central pillar of Nigeria’s corporate governance and financial reporting system.
In addition, the award, according to a statement, was a reflection of the impact of FRC in the sustainability reporting landscape not only in Nigeria but globally with the Adoption Readiness Roadmap being a template for other countries.
Speaking after receiving the award, Olowo said: “This honour reaffirms Nigeria’s leadership in advancing sustainability and transparency. It reflects our collective commitment to building a trusted, globally competitive reporting environment that promotes accountability, responsible investment, and sustainable growth.”
The recognition at ISAR 42, which is still ongoing in Geneva, underscores Nigeria’s growing influence in shaping global sustainability reporting standards and highlights the FRC’s pivotal role in promoting transparency, responsible business conduct, and sustainable development across Africa.
Olowo, the Executive Secretary/CEO of the FRC, had on Wednesday, 12 November 2025, formally concluded his tenure as Chair of the 41st Session of the United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) at the United Nations Palais des Nations in Geneva, Switzerland.
Olowo was in November 2024, elected as the Chair of the 41st session of the UNCTAD-ISAR.
The prestigious appointment was a testament to Dr. Olowo’s exceptional leadership and expertise in corporate reporting, which he had used in transforming and repositioning the FRC.