Iheanyi Anyahara: Celebrating Career of Public Service, Legacy of Integrity

Donatus Eleko

In a landscape often marked by fleeting trends and shifting priorities, the enduring commitment of a dedicated public servant stands as a beacon of unwavering dedication.

That is why after decades of tireless service to the nation, Dr. Iheanyi Anyahara will on Monday, March 24, 2025, be retiring from the Financial Reporting Council of Nigeria (FRCN), leaving behind a legacy defined by integrity, diligence, and an unyielding commitment to the betterment of the country.

More than just marking the end of a career, this moment offers a chance to reflect on the profound impact an individual can have on the fabric of civil service.

Throughout his career, his commitment to ethical conduct and transparent governance remained constant. In a time where public trust is paramount, his consistency throughout his service to the nation was invaluable.

Anyahara’s career is deeply intertwined with the evolution of financial reporting standards in Nigeria. His work at the Financial Reporting Council of Nigeria (FRC), including his brief tenure as Acting Executive Secretary/CEO, demonstrated his leadership in navigating the complexities of financial regulation.

His involvement in the adoption of International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSAS) highlighted his dedication to aligning Nigerian practices with global best practices. 

It is very important to note his work as the Chair of the Adoption Readiness Working Group (ARWG) for sustainability reporting in Nigeria. This was a very important and forward thinking position, that showed he is thinking about the future of financial reporting.

Anyahara’s expertise extends beyond national borders, as evidenced by his roles as a technical advisor to members of the International Public Sector Accounting Standards Board (IPSASB). This international recognition underscored his standing as a respected authority in his field.

Throughout his career, Anyahara maintained a reputation for integrity and professionalism. These qualities were instrumental in fostering trust and confidence in Nigeria’s financial reporting system.

His long standing dedication to his work, and the high level positions that he has held, are a testament to his high level of integrity.

No doubt, Anyahara’s retirement leaves a void that will be challenging to fill. However, his contributions have laid a solid foundation for the continued advancement of financial reporting standards in Nigeria.

He is a renowned expert in financial reporting, accounting standards, sustainability reporting and regulatory practices, with over 30 years of extensive experience in the field. He is currently the Coordinating Director and Head of the Directorates of Accounting Standards and Sustainability Reporting at the FRC.

Anyahara’s career is marked by his instrumental role in enhancing corporate reporting practices and contributing to Nigeria’s adoption of international standards such as the International Financial Reporting Standards (IFRS) accounting and sustainability standards, as well as the International Public Sector Standards (IPSAS).

From March 2020 to May 2021, Anyahara served as the Acting Executive Secretary and CEO of the FRC, where he provided strategic leadership and guidance to the organisation.

 Under his leadership, he advanced the integration of corporate governance, anti-money laundering practices, audit regulation and sustainability reporting into Nigeria’s regulatory framework.

 A pivotal aspect of Anyahara’s work was his dedication to promoting sustainability reporting in Nigeria. He has chaired the Adoption Readiness Working Group for Sustainability Reporting, leading initiatives aimed at aligning Nigeria’s corporate and public sector reporting with global best practices. In his current capacity, Anyahara oversees the development of sustainability reporting frameworks, contributing to the establishment of standards that ensure transparency and accountability in corporate and public disclosures, in line with the International Sustainability Standards Board (ISSB) guidelines.

 Anyahara is a key advocate for the adoption of Environmental, Social, and Governance (ESG) metrics in corporate reporting, ensuring that Nigerian entities incorporate sustainability factors in their reporting. His contributions in this area include his membership in the Inter-Ministerial Committee on the National Chart of Accounts for Nigeria and the IPSAS GAP Analysis Committee.

His influence extends internationally, with his appointment in January 2024 as the Technical Advisor to Yacouba Traoré at the International Public Sector Accounting Standards Board, along with his involvement with the International Assurance and Auditing Standards Board and the International Ethics Standards Board for Accountants (IESBA) Stakeholders Advisory Council.

Academically, Anyahara holds a first-class honors degree and an M.Sc. in Accounting from the University of Nigeria, Nsukka, an MBA from the University of Port Harcourt, and a PhD in Accounting from Babcock University, Ogun State.

He has also pursued executive education at prestigious institutions such as Harvard Business School and the London School of Economics. His academic rigor is matched by his membership in several professional bodies, including the Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Management of Nigeria, Association of National Accountants of Nigeria (ANAN) and the Association of Forensic Accounting Researchers.

 Anyahara is a highly sought-after speaker on topics such as financial reporting regulation, the adoption of IFRS and IPSAS, corporate governance, anti-money laundering, and sustainability reporting. His thought leadership and influence have solidified his standing as a leading authority in both financial and sustainability reporting, contributing to the integration of global best practices into Nigeria’s corporate and public sectors.

“The impending negative effect of climate change requires everyone to act, and it is therefore not a business decision or a nice to have. It is a compliance issue, which every company is expected to comply by default through cultural behaviour.

“Sustainability is thus at the centrepiece of human existence and as such key issues in sustainability reporting for insurance and other financial institutions include climate change and environmental risk management; social responsibility and community development; governance and ethics; human rights and labour practices; customer privacy and data protection; and financial inclusion and economic development,” Anyahara, said at a recent forum on the implementation of ISSB’s IFRS S1 & S2 for insurance companies and Other Financial Institutions in Nigeria, where he represented the Executive Secretary/Chief Executive, FRC, Dr. Rabiu Olowo.

Beyond the formal duties of their role, Anyahara throughout the service to the nation demonstrated a deep understanding of the human element of public service. His approach, characterised by empathy and a genuine desire to serve fostered strong relationships with community members and stakeholders.

As we look to the future, Anyahara’s career serves as a powerful example for aspiring public servants. His dedication to ethical conduct, his ability to navigate complex challenges, and unwavering commitment to the public good are qualities that will continue to inspire for years to come.

While retirement marks the end of a chapter, it also opens the door to new opportunities and we look forward to seeing Anyahara continue to contribute to nation-building and to the community in their post-retirement endeavors.