FRC, ICSAN Deepen Collaboration to Strengthen Corporate Governance in Nigeria

The Financial Reporting Council of Nigeria (FRC) has reaffirmed its commitment to promoting sound corporate governance and strengthening regulatory oversight through enhanced collaboration with professional bodies across the country.

The Executive Secretary and Chief Executive Officer of the FRC, Dr. Rabiu Olowo, made this known on Tuesday, January 20, 2026, while receiving a delegation from the Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN), led by its President and Chairman of Governing Council, Mrs. Uto Ukpanah, FCIS, during a courtesy visit in Lagos.

Welcoming the delegation, Dr. Olowo described the FRC as a critical pillar of regulatory assurance in Nigeria and stressed the importance of strategic partnerships in addressing emerging governance challenges in both the public and private sectors.

He noted the strong alignment between the mandates of the Council and the institute, expressing support for ICSAN’s proposals aimed at deepening collaboration and promoting higher standards of governance.

According to him, closer engagement with relevant professional bodies remains essential to strengthening institutional frameworks and ensuring sustainable corporate practices.

Dr. Olowo pledged the Council’s support for the institute’s programmes and activities and reaffirmed the FRC’s commitment to maintaining structured and productive engagements with professional organisations whose objectives align with the Council’s mandate.

The FRC boss also welcomed the proposed legislation seeking to reposition the Institute of Chartered Secretaries and Administrators of Nigeria as the Chartered Governance Institute, describing the initiative as a timely step towards expanding the scope and relevance of governance professionals in Nigeria.

He underscored the need to deepen governance practices in the private sector and identified the proposed ICSAN Chairman/CEO Forum as a strategic platform that could promote effective leadership, accountability and stronger boardroom culture among corporate organisations.

“Strong institutions are built on sound governance frameworks and sustained collaboration among stakeholders. Partnerships with professional bodies such as ICSAN are essential to advancing transparency, accountability and ethical leadership across sectors,” he stated.

Speaking earlier, the President and Chairman of Governing Council of ICSAN, Mrs. Uto Ukpanah, expressed appreciation to the FRC for its continued engagement and support, noting that the visit coincided with the institute’s 60th anniversary celebrations.

She described the relationship between ICSAN and the FRC as longstanding and mutually beneficial, adding that the institute remains committed to promoting governance excellence and professional standards in Nigeria.

Mrs. Ukpanah disclosed that efforts were underway to reposition the institute through a bill currently before the National Assembly, which seeks to transform ICSAN into the Chartered Governance Institute in line with global trends and evolving professional responsibilities.

She also expressed the institute’s desire for deeper collaboration with the Financial Reporting Council in advancing improved governance standards and strengthening accountability frameworks across the country.

The meeting underscored the shared commitment of both institutions to fostering a culture of transparency, ethical leadership and corporate governance, considered critical to building resilient institutions and enhancing investor confidence in Nigeria’s economy.