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Center, FRC to Partner in Strengthening Corporate Governance, Transparency in Public Sector

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    In a strategic move to support the fight against public sector corruption, the Center for Fiscal Transparency and Public Integrity (CeFTPI) and the Financial Reporting Council of Nigeria have agreed to work together towards strengthening the nation’s corporate governance and transparency of systems to meet the demands of the 21st century.

     

    As an agency of government, the FRC is saddled with the responsibility of overseeing and ensuring quality in “accounting auditing, actuarial, valuation and corporate governance standards and non-financial reporting issues,” hence the collaboration seeks to promote compliance and enhance public sector transparency and accountability.

     

    Speaking during the courtesy visit, the Center’s Executive Director, Umar Yakubu said that openness and transparency are essential ingredients for good governance, and the fight against corruption; and called on the FRC to support the Center’s advocacy for proactive disclosure of information by public institutions as required by enabling laws.


    Umar said that the Center Transparency and Integrity Index (TII) is a corruption preventive mechanism developed to deepen the nation’s corporate governance and ensure that public institutions comply with principles of transparency and accountability at the federal and subnational levels.

     

    Welcoming and reacting to the purpose of the visit, the Executive Secretary/CEO of the FRC, Dr. Rabiu Olowo commended the Center’s efforts and vision which he noted align with the Council’s objective as a regulatory entity promoting transparency and entrenching of best corporate governance standards across the country.

     

    The ES agreed to collaborate with the Center in promoting transparency and accountability in public; and equally invited the Center to review and support the mainstreaming of the Nigerian Public Sector Governance Code (NPSGC) which was recently developed by the Council.

  • Date Posted :
    2024-05-16 12:16:47
  • Posted By :
    ceftiw
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