NECA and FRCN Enhance Corporate Transparency in Nigeria

The Nigeria Employers' Consultative Association (NECA) and the Financial Reporting Council of Nigeria (FRCN) are deepening their collaboration to enhance corporate transparency and sustainability reporting practices. Mr. Adewale Smatt Oyerinde, the Director-General of NECA, engaged with Dr. Rabiu Olowo, the Chairman of FRCN, in Lagos to discuss strategies aimed at strengthening corporate reporting and sustainability practices.

During the meeting, Dr. Olowo highlighted the council's ongoing capacity-building programs for small and medium enterprises (SMEs) and micro, small, and medium enterprises (MSMEs), reaffirming FRCN's commitment to assist smaller businesses in meeting financial reporting standards. He confirmed that the council will roll out structured readiness programs for the private sector ahead of the implementation of a mandatory sustainability reporting framework.

Additionally, Dr. Olowo commended NECA member companies for their early adoption of voluntary sustainability reporting and acknowledged NECA's establishment of an ESG advisory board, which aligns with the council's initiatives to strengthen responsible business practices in Nigeria.