President Bola Ahmed Tinubu has appointed renowned chartered accountant and financial management consultant Kunle Elebute as Chairman of the Governing Board of the Financial Reporting Council of Nigeria, FRCN.
The appointment, announced in a statement issued on Thursday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, is aimed at strengthening corporate governance, promoting transparency and accountability, and boosting investor confidence in Nigeria’s financial reporting system.
According to the statement, Elebute brings more than four decades of professional experience spanning Nigeria, West Africa, and the global financial sector.
He previously served as Senior Partner and Chief Executive Officer of KPMG Nigeria, Chairman of KPMG West Africa, and Chairman of KPMG Africa. He also held positions on KPMG’s regional and global boards, including membership of its Global Board Audit Committee.
The Presidency described the new FRCN board chairman as a highly respected professional with extensive experience in audit, financial advisory services, risk consulting, corporate governance, and strategic transformation.
The statement noted that throughout his career, Elebute has provided advisory services to major institutions across the financial services, infrastructure, healthcare, consumer goods, energy, and public sectors.
He was also said to have contributed to national policy and regulatory development through his participation in several public sector committees, including initiatives focused on banking consolidation and corporate governance reforms.
The Presidency said the appointment underscores the Federal Government’s resolve to strengthen regulatory institutions and improve confidence in the country’s financial system.
“The appointment reinforces the Federal Government’s commitment to strengthening corporate governance, enhancing investor confidence, and deepening transparency and accountability within Nigeria’s financial reporting ecosystem.”
The Financial Reporting Council of Nigeria is responsible for setting and enforcing standards relating to financial reporting, auditing, actuarial practice, valuation, and corporate governance in the country.
According to the statement, the agency plays a vital role in safeguarding market integrity, protecting investors, and sustaining confidence in the Nigerian economy.
The Presidency further noted that Elebute’s appointment comes at a critical period as the Council pursues major institutional priorities, including engagements under the UK-Nigeria Enhanced Trade and Investment Partnership and efforts to align Nigeria’s corporate reporting framework with global best practices.
“Mr Elebute’s appointment comes at a pivotal time as the FRCN advances key institutional priorities, including ongoing engagements under the UK-Nigeria Enhanced Trade and Investment Partnership and broader efforts to align Nigeria’s corporate reporting framework with international best practices,” the statement said.
The federal government expressed confidence that his leadership and governance expertise would further strengthen the Council’s mandate and contribute to the objectives of the Renewed Hope Agenda.
“The Federal Government is confident that his wealth of experience, leadership, and governance expertise will further strengthen the Council’s mandate and support the Renewed Hope Agenda’s objective of building a more transparent, competitive, and investment-friendly economy,” the statement noted.
