FRC Nigeria wins UN ISAR honour in Geneva

Nigeria’s Financial Reporting Council has earned International Standards on Accounting and Reporting honors from the United Nations Conference on Trade and Development Intergovernmental Working Group of Experts on Accounting and Reporting, becoming the sole African nation recognized by the international organization. The distinction acknowledges Dr. Rabiu Olowo’s leadership in advancing sustainability reporting frameworks and corporate transparency through the council’s groundbreaking reforms.

The award was conferred during ceremonies at Palais des Nations in Geneva, Switzerland, during the 42nd session of the expert working group. Recognition stemmed from the development of a globally aligned sustainability reporting system, multi-stakeholder engagement through the Adoption Readiness Working Group, and successful national reforms positioning sustainability disclosure as central to corporate governance.

President Bola Ahmed Tinubu’s endorsement of the National Roadmap for Adoption of IFRS Sustainability Disclosure Standards reinforced commitments made at COP 27 while demonstrating political support for integrating climate-related reporting into economic frameworks. Under Olowo’s direction, the council trained over 2,000 professionals and strengthened partnerships with development organizations including the German Agency for International Cooperation to build local capacity for sustainable finance initiatives.