Olowo Pledges to Transform FRC

At the 51st AGM of the Manufacturers Association of Nigeria (MAN), the newly appointed Chief Executive of the Financial Reporting Council (FRC), Dr. Rabiu Olowo, pledged to transform the agency into a high-performing regulator, acting in the public interest.

“My commitment is to transform the financial reporting council into a new, robust, independent, regulator of corporate governance and accounting and auditing standards in Nigeria, in the interest of the people.”

Olowo who represented the President, Bola Tinubu, and the Minister of Industry, Trade and Investment, Dr. Doris Anite-Uzoka seemed poised to undertake the new assignment, noting that the FRC, under his watch, will hold accountable those responsible for delivering high standards of corporate governance, financial reporting, and auditing to deliver sustainable economic growth for Nigeria.

While emphasizing his desire to transform the FRC into a high-performing regulator, the former commissioner of finance in Lagos, commended the work done by his predecessor, Shuaibu Adamu, noting that his sound leadership was evident in the team’s esprit de corps.

He further underscored the importance of working with relevant teams and stakeholders for the agency to have a greater impact on the economy.

“I see a huge opportunity for us to deliver social impact. The work, the mandate, the span and the scope of what FRC is vast; we need to be even more equipped, more resourced, and more empowered in every way to even do greater things.”