FRC wins most effective government agency award

The Financial Reporting Council of Nigeria (FRC) has been honoured with the award of Most Effective Government Agency of the year on formulation and enforcement of accounting, auditing, actuarial and valuation standards in the country for 2016.

This award was bestowed on the Council by the Nigeria Media Nite-Out Award at its 10th Edition Ceremony for merit and excellence awards held in Lagos recently.

In a statement by the Council’s Media/Communications Consultant, Mr. Mack Ogbamosa, the award was bestowed on the FRC in recognition of its consistent strives towards ensuring the entrenchment of good corporate governance in the country.

The award recognises and rewards government agency that has been most effective in performing its statutory functions as well as creating the right environment for businesses to thrive.

Presenting the award to the Chief Executive Officer (CEO) of FRC, Mr. Jim Obazee represented by Alhaji Umaru Sanusi, Head of Administration of the Council, the founder of the award, Mr. Sola Olugbemiro, described the award as a recognition of the Council’s consistent strive to sanitize the country’s financial sector through enforcement of financial regulations.

While responding, Obazee dedicated the award to God and members of staff of the Council whom he said have been great partners in attaining this milestone achievement, saying the award is only “a motivation for the Council to do more in entrenching good corporate governance in the country.”

Established under the Financial Reporting Council Act No6 of 2011, the FRC is charged with regulating accounting, auditing, actuarial and valuation standards as well as issuance and maintenance of codes of corporate governance to ensure transparency and accountability in both